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TaxAssist Accountants is the UK’s largest network of accountants specialising in servicing the needs of small businesses and self-employed individuals.
Our business model, support and business development strategies help franchisees to build sizeable, scalable and profitable practices which are also valuable and saleable assets.
The franchise was founded in 1995 and now has over 247 franchises operating in the UK. Many prime territories are still available and we also have established franchises for sale with immediate income streams, as well as the opportunity to convert existing practices to TaxAssist.
An innovative business model
We have developed an innovative business model that allows our franchisees to focus on a lucrative market of potential clients.
The proven business model of TaxAssist Accountants is straightforward – take on hundreds of individual taxpayer and small business clients, with relatively uncomplicated accounting, tax and advisory work, while being based in visible, accessible and welcoming shopfront premises.
By servicing the needs of small businesses, subcontractors and the self-employed, as a franchisee you can focus on a group of clients who have traditionally been under-serviced.
Our Market
We pride ourselves on leading the way to ensure our accounting practices are the first choice for small business services.
The loss of the traditional bank manager and other advisory organisations has left a gap that TaxAssist franchisees are filing, as people seek a trusted personal advisor for their business and personal financial affairs.
With a network of more than 400 highly visible, welcoming, high street shops and offices across the UK, our accountants are ideally placed to take advantage of the opportunities that changes in the accounting industry is bringing.
Tax and accountancy services are always in demand, and with our fresh and innovative approach, TaxAssist Accountants really stands out from the crowd.
Multiple income streams
Alongside our core tax and accountancy services, franchisees have access to multiple additional service lines (TaxAssist Financial Services, TaxAssist Tax Consulting, TaxAssist Payroll Services). These can be introduced to clients and then referred on to dedicated teams of specialists at the TaxAssist support office to undertake the service delivery – helping to create multiple revenue streams for franchisees’ businesses.
Extending the TaxAssist portfolio offers enormous potential for growth and creates huge value to franchisees in attracting and retaining clients. With more services in the pipeline, this enhances the brand and puts us several steps ahead of the competition.
The background of a typical TaxAssist franchisee
Franchisees have worked both in practice and industry, banking, financial services, corporate and consulting, and some have been former successful business owners too. Having a financial background is essential – the focus is on advising and supporting clients while your tech and team do the number crunching.
Ability to purchase shares in the franchise
TaxAssist franchisees now own almost 60% of The TaxAssist Group Ltd. New franchisees own their own local business as part of the TaxAssist network, and if they choose, have the opportunity to become a shareholder in the franchisor.
Initial Training Course
The TaxAssist Training Academy holds three initial training courses per year. The course educates franchisees on how to run a business, so they are equipped with all the necessary skills to be the principal of their own accountancy practice from their first day of trading. The course lasts for seven weeks, with three of these based at our Support Centre in Norwich, three are run virtually, and one week’s home study.
43 days of initial training are provided covering:
By the end of the initial training provided, franchisees will know how to run and grow their own successful business, having learned the following skills:
Tax, accountancy and software training is delivered by our team of qualified accountants, tax advisors and software trainers in conjunction with specialist training partners. Through this partnership we can ensure that all materials are up-to-date, directly relevant for our network and are of the highest quality.
Our marketing trainers provide a Business Acceleration Programme across eight days. We work with franchisees during the course to decide on the right business development activity for their territory, then monitor their success.
Mentoring
Mentoring is provided by:
Highly successful former TaxAssist franchisee and non-executive director, Mark Fordham became Franchise Development Manager in 2022, with a specific remit to support new franchisees. Mark’s role is to share his expertise and experiences along with TaxAssist best practice, to help with growth and operations in a franchisee’s vitally important first year in business. Mark sold his franchise in 2012, achieving the network’s first landmark £1m resale. He brings with him a wealth of TaxAssist knowledge and experience which will hugely benefit new franchisees.
Ongoing training
On an ongoing basis, franchisees benefit from bi-annual tax update days, bi-annual Regional Meetings, and a full range of additional one and two-day courses specific to tax, accountancy and business development. These are provided by the in-house Training Academy team and specialist training partners.
The Training Academy’s courses are complemented with a comprehensive range of CPD and practice development seminars and webinars, as well as e-learning delivered by market-leading partners at discounted prices.
Our support to our franchisees also covers their exit, for which we can offer:
TaxAssist franchisees manage their team to deliver a suite of accounting, tax, financial and advisory services to local small business owners, contractors, freelancers, from welcoming highly-visible shopfronts. Your role will primarily consist of:
You’ll spend your time growing your business attracting new clients and leading your team of loyal staff. We’ll guide you every step of the way to maximise both your income and asset value, all you need to do is follow the proven model – just like hundreds of people have before you.
We understand that if you are coming from an accountancy background much of this may be new to you and we have tailored the training and support to give you the skills you will need to run and grow a successful business. Likewise, if you are not a qualified accountant we will train you to understand the services that you will be providing and have accredited routes available for you to gain relevant qualifications.
The goal is to work on the business rather than in it. That way, you’re growing an asset, as well as your income. We’ll guide you every step of the way to maximise both your income and asset value.
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