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Frequently Asked Questions about joining TaxAssist Advisors

  • Can I talk to some of your existing franchisees?

    We would need your background information, resume, and Application Form to assess your suitability before giving names and contact details out. We will give you access to the whole global network, after you have attended a Discovery Session and we would encourage you to speak to as many existing franchisees as you possibly can as part of your research.

  • Who has the client relationship?

    All client relationships sit with the franchisee.

    The franchisee:

    - Meets with the prospective client

    - Quotes and sets their own fee for the agreed services

    - Manages all aspects of the client relationship

    - Ultimately owns the clients thus building an asset for their future.

  • Do I need to be a qualified accountant to join TaxAssist?

    Our franchise opportunity is open to individuals that are a Certified Public Accountant (CPA), as well as individuals with a strong financial services or banking background, as well as those that already own an accounting practice they wish to develop as part of a global brand.

  • What exclusive rights do you get?

    You will be allocated an exclusive marketing territory defined by ZIP code boundaries. No other TaxAssist Advisor can market directly in your area or vice versa. When you and other franchisees carry out local advertising in publications covering more than one franchise area then the normal procedure is to share costs and divide out responses according to the geographical areas covered by you. However, should you receive a genuine recommendation from a potential client outside your exclusive marketing territory then you can act for that person.

  • What if I already have clients before becoming a TaxAssist Advisor?

    We have recruited accountants who already have a block of clients of their own, acquired during the period before they joined us. We have been asked to consider whether some relief can be given against charging our normal rates of Management Service Fees. Our policy for this scenario is subject to certain minimums, we may allow the fees introduced or acquired to be kept in a separate pool and for one year only we will not charge Management Service Fees on these fees. After 12 months, these fees will be amalgamated with other fees acquired during the TaxAssist Advisor Franchise term to form one pool and full Management Service Fees will be payable on the total pool of fees.

  • For how long is the franchise granted and is there a fee payable on renewal?

    The initial term of the Franchise Agreement is five years. Assuming you have operated the franchise as set out in the Franchise Agreement including meeting your minimum targets, the agreement is renewable by you every five years for an administration fee. In most cases we anticipate franchisees will renew the agreement to continue the franchise every five years until they dispose of it at some future date. We also now offer at our discretion a 10-year plus Franchise Agreement.

  • Does this contract permit me to sell my business?

    Yes, the client base is a considerable asset built up and owned by you. There are various deferred fees to consider which are laid out in our Franchise Agreement, which you would factor into your selling price.

  • What if it is too expensive to move into a retail location in my area? Is it absolutely necessary for me to make this move?

    You will have up until the end of the second year to move into a retail location. We have franchisees who have managed to find good retail premises when at first glance there appeared to be nothing remotely suitable. It is location, location, location translated as visibility, accessibility and affordability. This will help you to achieve the growth that we both seek.

  • I am a qualified accountant. Do I still need to go on all of the training and pay the full franchise fee?

    We understand that you would naturally wish to avoid any unnecessary duplication and expenditure, but because we have correctly identified a niche in the market, our training is specifically tailored to address that niche and nothing else. Past experience has shown that even fully qualified accountants will benefit from full participation in our training course.

  • How do you justify your franchise fees and why should I join TaxAssist Advisors rather than one of the other accounting franchises?

    Formed in the UK in 1995, TaxAssist is the leading franchised accounting organization in the UK and Ireland. TaxAssist has many years’ experience in operating a substantial global network of branded offices that is well recognized and respected in their domestic market.

    Internationally, we have a highly visible presence with more than 454 store fronts and offices, and growing. The retail location brand is supplemented by the many branded cars, national advertising, online presence and marketing collateral. We constantly look to be at the forefront in terms of brand awareness, technical training and support for business growth. Our training courses, practice management software, as well as a raft of additional relevant business services our franchisees can offer their clients at significantly discounted prices means in our opinion, that we are market leaders whose offering far outweighs the competition as had been proven in the UK, Ireland and Australia.

    Unlike some of our competitors, we have no other business interests or our own accounting practice to support. The five UK Executive Directors have a breadth of business experience which they bring to the franchise. Sarah Robertson is a Chartered Marketer who previously operated her own Marketing and PR company; James Mattam has spent his entire full time career with TaxAssist Accountants and has vast exerience in IT, marketing, business development and training; Daren Moore has over 26 years' experience in the accountancy practice sector, having worked his way up from accounts trainee to a member of the Management Board of Price Bailey LLP where he had an outstanding track record of achievement and Mike melling has had a 35-year career as a senior financial services executive in the UK, USA and Asia for American Express, GE Capital and Marsh & McLennan including board-level roles for subsidiary companies.

  • May I have a copy of your Franchise Agreement?

    This will be made available as part of the Franchise Disclosure Document which will be supplied to qualified people after attending a Discovery Session.

  • What fees do I charge?

    We give you guidance on the level of fees that you should charge your clients, but the final decision on the exact amount is up to you.

  • Is the business seasonal?

    Client accounts are made up to financial year-end dates that can be at any time of the year. Although typically busier during the traditional US tax season (January to April) we have strategies to ensure that cashflow is even throughout the year.

  • Is there an extra cost if I wish to bring my partner on the initial training course?

    Yes, there will be an additional cost, because the franchise fee applies to only one person. We make our training course costs as reasonable as we can for partners/staff, etc., because it is beneficial for both franchisee and franchisor to have a well-trained network. Please ask for further details on costs on or after your Discovery Session.

  • Do you train me? Who pays for my training?

    Full and professional initial and ongoing training is provided to all franchisees. Accounting and tax training is provided by in-house staff or specialist training partners. The initial training course which lasts for six weeks is included in the franchise package fee.

    We also provide further update days, operations manuals, support website which offers our franchisees access to technical releases, frequently asked questions, online tutorials, advice and the ability to update your own website.

  • How much working capital will I need?

    In addition to your own living expenses you will need to allow for a marketing budget, office expenses, any staff and sundry costs, which may vary across states.

  • What sort of person does TaxAssist Advisors look for?

    One of the main attributes we look for is the determination to develop a successful business. General business acumen and people skills are essential as the franchisee will be responsible for developing relationships with existing and prospective clients, as well as looking after staff needs.

Read about our initial training...

All financial information in this prospectus or website, with the exception of any financial information in the international section, is intended only for prospective franchisees in the USA. This information is based on actual historic information provided to us by our operating franchisees in the United Kingdom, Ireland and Australia, and not elsewhere. Accordingly, if you are considering operating a TaxAssist franchise in any other country, do not review or rely on this information. It relates to the USA only, and the differences between the USA and your country in respect of how long the system has been operating, the reputation and goodwill of the brand, the economic environment, competitors, industry associations and other factors make this information inapplicable to you. If we have elected to provide financial information for your country, it will be expressly set out in the international section.

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