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High street accountancy franchise beats UK giants on growth

Mould-breaking accountancy network TaxAssist Accountants has beaten the UK’s top ten firms on growth in the latest national league tables.

TaxAssist Accountants, which provides tax and accountancy services to small businesses, recorded 12.4% growth in the Accountancy Age Top 50 listings, beating the ‘Big 4’ international groups and achieving the fifth highest growth across the whole Top 50. The network was placed 26th in the table on UK fee income, which rose to £24.5 million.

“This is testimony to the hard work of our 195 franchisees across the UK and the continued success of our business model,” said Karl Sandall, CEO of TaxAssist Accountants. “We’re bucking the trend by offering a welcoming, straight-talking approach, with accountants in shop-front offices right on the high street. It’s obviously working well with our 45,000 small business customers across the country, who value the convenience as well as the service.

“And our growth is continuing, with the latest fee bank at over £30 million, which is great news for the network and why we’re now planning to export the business model to Canada, the US, New Zealand and Australia.”

A key part of TaxAssist Accountants business model, shop-front offices are designed to offer convenient, accessible services that become a visible part of local business communities.

James Mattam, business development manager at TaxAssist Accountants, said: “Where the franchise model adds value, is the strength of a corporate brand, the high visibility of the TaxAssist Accountants shop-front premises and an extremely experienced network and central support centre.

“2013 has been a very positive year so far.  By offering an easily accessible straight-talking accountancy service, our network has experienced exceptional growth in the face of a challenging economic climate.”  

TaxAssist Accountants’ Top 50 growth success follows its first million pound franchise resale last year – achieving a multiple of 1.25 against an accountancy industry average of 0.8 to 1.0.

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