What did you do before being a franchisee?
I joined an IT company as an admin assistant straight from high school and they started me on a bookkeeping course, which led to my AAT qualification and then ACCA.
I heard about an opportunity at my local TaxAssist Accountants, who were looking for a Practice Manager. It seemed like this could be a good fit for me, and the franchisee Alasdair explained the advantages of being part of a franchise, including ongoing training opportunities, the technical helpdesk and being part of a large network to learn from.
What made you consider franchising?
In 2015 Alasdair began looking for a Partner with a view to buying him out. I said I was interested, and so we started the ball rolling on a management buyout. The business borrowed the money to fund the buyout, using the strength of the TaxAssist franchise model and our successful trading history to support the lending application.
For me, being part of a franchise network is the best of both worlds. We are a small business, so can relate and empathise with our customers, I get to make my own decisions about the business and yet we are part of this massive network made up of the very supportive franchisor, directors and staff, as well as all of the other franchisees. I love getting ideas and sharing best practices with the other franchisees and being able to help others with any advice I can share.
What does the future hold?
I am now finalising my business plan and cashflow forecast for the next five years to go to the bank with a new borrowing proposal for the purchase of the rest of Alasdair’s shares. I have the support of the franchisor behind me to help me with this process, which is invaluable.
My next goals will be to get the business to £1m turnover and to open a 5th shop location.