Are you an accountant or a commercially experienced individual looking to build a profitable and saleable business?
If so, then why not consider running your own accountancy practice with innovative and award winning TaxAssist Accountants.
Accountancy fee banks are genuinely in demand and are a real asset for your future whether you have a plan of 5 years, 10 years or much longer.
With 18 branches and over 5,800 satisfied customers, TaxAssist Accountants is Ireland’s largest network of accountants specialising in servicing the needs of small businesses and self-employed individuals, and the leading tax and accountancy franchise in Ireland. It offers brand credibility from day one, mixed with professional initial and ongoing training and support for you and your staff.
How big is the market?
According to figures published by the Department of Business, Enterprise and Innovation in 2017, there are 250,143 Small Medium & Enterprises active in Ireland, 232,015 of these are classified as ‘micro’ businesses i.e. having less than 10 employees.
We operate in a very large, buoyant market that has traditionally been over charged and under serviced.
A recognised brand
One of the major reasons our franchisees chose to join TaxAssist is because of our brand and marketing expertise. From our support centre in Dublin, we employ staff who are running nationwide marketing campaigns across several mediums including but not limited to; PR, sponsorship, national radio advertising and most importantly a large and focused digital marketing campaign.
This advertising ensures that small businesses will see the brand and recognise our name in the marketplace. It also gets the phone ringing daily with direct enquiries from clients who need an Accountant. These enquiries are qualified by us and then sent on to you to meet with; this supply of leads is a major advantage in the market.
As well as this national marketing, franchisees also benefit from having everything they need to run their own local marketing campaigns, your own website, a social media presence, PR coverage, advert templates, initial and ongoing training, shopfront searches and a comprehensive online presence. These and other initiatives will generate leads (business opportunities).
‘Minister Frances Fitzgerald and Don O’Connell (owner of TaxAssist Lucan) at the official launch of our Lucan location’
Your role is fundamentally to develop the practice. In order to work on the business rather than in it, you must be able to build a team of staff to assist with work production, as your time will be spent as principal of the business, networking, managing staff and meeting with clients.
When you are ready to sell your practice, we can help you realise the value of your asset and you have the knowledge that we have on many occasions sold practices in excess of the industry norms.
TaxAssist works with you both in creating an initial business plan and supporting you to achieve it.
Business development will depend on your own ambition, but franchisees should aim to build up turnover and profits consistently, aiming after 5 years, for a turnover of €300,000 plus. We expect a third of your turnover to cover staff costs, another third to cover the other costs associated with running your business and the final third being your profit.
After 5 years some franchisees are happy to maintain this level, comfortable with the income generated from the business, whilst other franchisees continue to drive their business forward, by continuing to be proactive with networking and marketing strategies, pushing past the €500,000 turnover level.
This level of success can be achieved and even exceeded.
Training & Support
The majority of our franchisees came to us with strong professional backgrounds, but they may have been out of practice a long time or they may have trained in a different industry.
Our Dublin based Support Centre offers a complete range of training in technical, marketing and business development support. Our initial training course is delivered by qualified in-house experts, working alongside selected third party specialist training partners.
The initial training course covers:
Accounts production and taxation for sole traders and partnerships
Practice management and social media
Sales, marketing and recruitment
Further training is provided at months 2,3 and 6, as well as ongoing regional courses and CPD for you and your staff. The Support Centre offers a complete range of professional, experienced and qualified personnel to fully support your business endeavours. Full training, support, and guidance are given to operate your business under the TaxAssist Accountants brand name.
The franchise fee to join TaxAssist Accountants is €39,450 plus VAT. Your overall initial capital requirements will be between €100,000 - €120,000. These figures will be dependent on location and level of personal drawings required.
We still have territories available across Ireland including Dublin so if you would like to find out more, please contact us by completing the form below to book onto a discovery day. Once you have attended a discovery day we will provide you with a full list of our franchisees for you to speak with as part of your research.