Case Study - Cheryl Hopkins

TaxAssistCheryl Hopkins FCCA from Nuneaton, Warwickshire joined the TaxAssist Accountants franchise in July 2009, after the birth of her first child made her realise she needed to escape the corporate rat race and work for herself. 

After just 6 years, she has built up a practice with 300 clients from her shop front premises, has a team of 6 staff and has given birth to her second child. She shares her inspiring story here, about the new independent life taking on a franchise with TaxAssist has given her:

“Before I became a TaxAssist Accountants franchisee I was a senior accountant in a manufacturing company in Leicester which made pies.  I was involved in the weekly accounts and costing products, so I’d never previously had dealings with personal tax returns.

Returning to work after maternity leave, I realised it was very difficult juggling home and work life with the pressures of working overtime and monthly deadlines, and I just thought no, I need to work for myself to have more flexibility and freedom. 

Why did I choose the franchise route rather than setting up on my own? I lacked practice experience and had no knowledge of sales or marketing myself or a business.  I wanted the support that I would get from a network of accountants, a working model and best practice guidance.  I thought the franchise would give me a good grounding to start the business off and it has.  

TaxAssist was by far the best franchise that I looked into.  When I attended a discovery day, the team at the Support Centre were genuine and open which gave me confidence that they would provide the promised level of support. It was a very relaxed day and had a real family feel to it, as they really cared about you making the right decision for you.  It was not pushy and there were no sales techniques to force you into the franchise route.

As part of my research I spoke with several franchisees and all were consistent in their messages -that the model worked, the Support Centre does what it says on the tin – basically it’s down to you and the results will depend on your effort, approach and investment.  The support that I have received has also played a significant part in the growth of my business. Having this support means I have more time to spend on servicing my clients and working on my business.

I opened my shop in February 2010. My initial business plan consisted of me working from a serviced office for approx 2 years prior to moving into the shop front location. I wanted to get a hold of the business from quieter surroundings prior to launching into employing staff and having business walk-ins. All this changed after being in the business for 6 months.

Through my regular contact with the teams at Norwich, I quickly realised that 50% of my potential clients did not even know that I was there, as there was no clear visibility. This made me realise that it was time to start the search for the “right” shop. It didn’t take me long and within a space of 3 months I had moved into one.

TaxAssist Accountants gave a good base to my business with the comprehensive training package which continued over the first 6 months of the Franchise. Even coming from an accounting background there is so much to learn. Selling and marketing was not anything I had ever had to do before so took me out of my comfort zone, but it is all covered in the initial 6 weeks’ training and gives you that confidence to go out there and achieve.

I still feel that I learn something new every week and to have the knowledge base and experience from the Support Centre and also the Network as a whole is great. A big benefit of joining TaxAssist Accountants.

Now 6 years into my Franchise, I have a stable business.  Walk-ins still occur daily in the shop, mainly self-employed tax return clients, but over time these clients’ businesses grow and with that so does the requirement of our work, therefore the potential of increased fees. I am also finding that referrals happen more and more, as clients are recommending our services to business associates, friends and family.  I love the variety of clients that I get to meet and work with.  I have benefited so much from the input and support which the Norwich based team have given me and I definitely could not have done this without them.

Will I be staying with TaxAssist? – absolutely yes! TaxAssist are a huge resource for client retention as they assist us with technical updates for both us and clients, business partners to whom we can refer clients to and most importantly make the brand known with the growth of the network and internet presence. 

I now work closer to home, I open the shop 9-5, I very rarely have to work overtime, I don’t work weekends and it’s just so much easier to juggle home and work life.  I’m having so much more time now with my family.  Taking on this franchise has just worked for me.

In the future I’m hoping to open another shop, buy another franchise territory, build up my staff, whom I could potentially sell the business to and then retire! But that won’t be for a long time yet!”

  • TaxAssist Accountants

    Contact details

    Membership
    Member - Full
    Sector
    Accounts/Financial Advisors
    Contact:
    Daren Tillson
    Email:
    daren.tillson@taxassist.co.uk
    Website:
    TaxAssist Accountants  
    Tel:
    0800 0188297
    Location:
    Norwich
    Desc

    Business description

    TaxAssist Accountants is a white collar franchise providing professional tax and accountancy services to small businesses. You do not need to be a qualified accountant to join us as you will employ accountants leaving you free to concentrate on business development. Our comprehensive training, technical and marketing support is all designed to make you successful! In 2010 TaxAssist Accountants won Gold at the bfa HSBC Franchisor of the Year. We have also been recognised as a Top 50 Accountancy network. You will need high levels of business acumen and the drive and determination to develop a business where there is the potential for generating high turnover.

    x
 
 
  • Alan Mackie
    Sandler Training - Franchisee case study

    “When I made up my mind to leave IBM I struggled a little to think of business ideas that I felt were strong and sustainable. Sandler changed that. I could relate to what they had to say straight away.”

    Read the full case study
 
 
The bfa website is sponsored by

HSBCNatWestLloyds BankThe Royal Bank of Scotland

 

You have 0 franchise information requests ready to send.

Personalise and submit requests