July 11, 2019
Andrew Twynam has recently sold his practice to experienced accountant Amit Joshi.
When he joined TaxAssist Accountants in 2012, Andrew Twynam had a plan. Work for five years, build his practice up, then sell, to enable him to pay off his mortgage – which he has just achieved after the successful transfer of ownership to Amit Joshi FCCA.
Andrew and Amit had both endured years of commuting and the frustrations of the corporate world before discovering TaxAssist to their mutual benefit.
Andrew had been a finance director for a big city firm but was looking for a better quality of life. “It’s a familiar story. I had four-year-old twin boys and was leaving home before they were up and getting home when they were in bed. I was really only seeing them at weekends, which put a lot of strain on the family,” explained Andrew.
“I was in a taxi on my way to a charity function in London and I passed a TaxAssist Accountants shop. It looked incredible and, already aware that TaxAssist Accountants is a franchise, I started some research the next day. I was looking for business opportunities and although at the beginning I was very sceptical, I spoke to lots of franchisees who confirmed what I’d been told, and this seemed like the right opportunity for me.”
Amit, who has attained vast experience in accounting over the last 19 years, was keen to leave the corporate and city life behind too, so started looking for opportunities where he could work for himself and build his own asset.
‘‘Ready for a change from my usual commute into central London and having seen the shops on the high street, I started to do my research into TaxAssist and attended a Discovery Day,” said Amit. “It was during my research that the Support Centre informed me that a practice was for sale close to where I live. This seemed a good fit for me, so I was introduced to Andrew and started my due diligence. I liked what I saw and decided this was just what I was looking for. Andrew and I seemed very likeminded, the business was successful, with good working practices in place, all of which made my decision to purchase his business an easy one!
“I attended the February 2019 Initial Training Course and have now spent a few months in the business. While it has been hard work, I have no doubt it has been the right decision for me. I am looking forward to working with the great team I have and to developing the business further.’’
For Andrew, an exit strategy had been a key consideration even before joining TaxAssist. “I don’t think I would ever have joined the franchise if there wasn’t a fairly clear exit route,” explained Andrew. “For me it was never the plan to be a TaxAssist franchisee until I retired. That’s what really attracted me to the model, it had a beginning, a middle and an end. The Support Centre gives you a path to follow and supports you every step of the way in helping you to build up your practice and when the time is right, to sell.”