Recruitment Case Studies

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An Introduction to TaxAssist Accountants:Case Studies from our Network

The Accounting and Tax Service for Small Business

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Case Study: Mark Fordham and Mike MellingRadlett, St Albans and Harpenden, UK

Landmark Sale for TaxAssist Accountants

Against a backdrop of high street failures, the TaxAssist Accountants network has bucked the trend, reaching a landmark £1m resale, the first in the network, achieving a multiple of 1.25% against an accountancy industry average of 0.8% to 1.0%. Here we find out more about the franchisees involved.

Mark Fordham joined TaxAssist Accountants in October 2003. His background was in banking, internal audit and lecturing at degree level. Realising that his whole career had been with big corporations, he decided that he wanted to work for himself and be in charge of his own destiny and build up his own business close to where he lived in St Albans….

“The reasons why I chose to consider franchising are the lower risks, and support in areas I had little or no experience of, such as sales and marketing. As part of my due diligence I visited the franchise exhibition at Wembley, looked at websites and magazines, spoke to franchisees and attended discovery days. I also attended a BFA workshop. The reasons I chose TaxAssist Accountants were the positive feedback I received from the franchisees and the success to date of the franchise, the set up of the Support Centre and the trust I had in them running the franchise. Added to this, I felt that accountancy and tax was an area I could succeed in.

The training and support I received have been fantastic. I attended an initial training course in Norwich which covered accounts, taxation, software, sales and marketing. Training and Support have continued

whilst I’ve been out in the field, in the form of technical and marketing help lines, on site visits from technical personnel and Directors, update training days, and of course the support and advice of other franchisees.

I opened my shop in 2009 which led to an immediate boost in new business due to increased client walk ins. I made sure I continued to be active with networking and marketing and ensured that everyone knew where the shop was. The shop also gave the business a professional appearance with even more credibility.

Did I face challenges along the way? Of course. I worked harder than I ever had and I was slow to take on staff and was perhaps guilty at times of working in the business, not on the business as I should have done.

If someone asked me what advice I would give to someone buying a franchise, I would say to do your research thoroughly. Think about what you will need from the franchisor and consider if they will provide this. Talk to existing franchisees and get a feel for how they are doing.

Since joining TaxAssist Accountants my business has gone from strength to strength. It has been hard work and great fun to take the business from a blank sheet of paper to over 850 clients and 13 members of staff in a short space of time. The support from TaxAssist Accountants has been first class. Everything they said they would do has been done and more. I estimate that my business is at least 2 years ahead of where it would have been had I started on my own as a result of joining the franchise.”

We openly encourage all franchisees to consider their exit strategies, and we even provide training days so

Mike Melling’s Radlett branch pictured below


that plans can be put in place early on in the franchise term. In early 2012 Mark Fordham approached the Franchise Recruitment Manager, David Paulson advising that he would like to start the search for a purchaser, and within six months David had found the ideal candidate.

In October 2012 Mike Melling purchased Mark Fordham’s franchise. After a 30 year career in financial services and more recently operational consulting, Mike bought the Harpenden and St Albans franchise and has expanded the territory to include Radlett and Shenley. Having worked around the world in senior positions for companies like American Express, GE Capital and Marsh & McLennan, Mike was interested in developing a family business that his wife Penny and twin children Katherine and James could become involved in as well as the opportunity to build an asset for the longer term.

“The more I found out about the growth and success of the TaxAssist Accountants model and the more I talked to people at the Norwich Support Centre and around the network, I became convinced that this was the business I wanted to buy into and continue to grow,” said Mike.

Mike is thoroughly enjoying the client and business development, with Katherine and James already helping out with extended office opening hours including Thursday nights and Saturdays mornings during the peak season.

Karl Sandall, Chief Executive of TaxAssist Accountants said, “Clearly we are thrilled to have achieved this landmark sale; it is a testament to the strength of our business model that we are achieving these kind of resale figures and still achieving double digit growth year on year.”

Mike Melling’s St Albans branch pictured below

Mike Melling, pictured above centre with Karl Sandall (left), Mark Fordham and David Paulson (right), currently operates from two shop fronts covering Radlett and Harpenden and an office in St Albans.


“I joined TaxAssist Accountants in December 2002 having purchased an existing fee bank from a franchisee who was returning to a former employer.

My experiences gained in banking, insurance and finance, coupled with the knowledge gained in setting up and running a group of limited companies with some fellow directors, gave me some preparation for running an accountancy / business advisory practice…but I wanted the comfort of a “hand held” approach and some solid back-up support.

The obvious integrity, willingness and openness of all the team at TaxAssist Accountants struck me right from the outset, such that the decision was much easier to make – a clear sign that things were right then, and which has continued to prove to be right time and again since.

Looking back, the first year was an exceptionally demanding one and much of the cash flow was reinvested to develop the potential of my practice. I had originally planned to move into shop front style premises some time after three years. After just two years the ideal shop front became available and I needed to make the commercial decision and investment much sooner, eventually moving in March 2005.

Despite my reservations over the cost and disruption the overriding outcome was excellent. My net fee income, client growth, profitability and cash flow all benefited dramatically, improving month on month. New business enquiries were and continue to be plentiful with word of mouth being the best source and referrals from local professional sources (banks and solicitors) second.

There is little other marketing I have undertaken, and the brand building activity of the Support Centre sends welcome leads my way. I now have six members of staff.

In December 2007 I acquired the freehold of a former bank in my neighbouring home town. It opened as my main office in March 2008. The quality and average fee size of new business enquiries has improved. The fact I have been confident enough to buy, and that my bank have been so keen to support me, is continuing testament to the strength of the business model.

I have always increased fees annually but recently became aware that a number of clients had fallen out of

step with the target fee range. Despite the economic outlook I therefore embarked on a client fee review programme. My average fee increase for clients retained on direct debit ended up in excess of 10%, excluding the impact of the VAT hike. Only

one client refused to accept the increase. I believe this proves the power of the brand and underlines the continuing success of our franchisor in securing awards.

The TaxAssist brand is excellent and allows me to portray a “big” practice feel but with a “smaller” practice price structure – a real winner with the clients! Ongoing training is excellent and I have to say that TaxAssist Accountants seem to have their support structure with franchisees just right – there when you need them but leaving you to run and develop your business when you don’t!

I have no doubts I made the right decision and can confidently recommend TaxAssist Accountants.”

Case Study: Phil MarriottLoughborough, UK

“The obvious integrity, willingness and openness of all the team at TaxAssist struck me right from the outset...”

Phil Marriott (left) and the Shepshed (Loughborough) shop


“I am a qualified Chartered Management Accountant and prior to joining TaxAssist Accountants worked as a Group Financial Controller for a large motor dealership group based in Colchester. Prior to that I had many years experience within the small company sector including several years as a director of the family motor dealership business. I also spent a year working in the Stock Exchange following qualification.

I joined TaxAssist Accountants in November 2002 opening my first shop in October 2005. I opened my second in 2007, based purely on the success of my first shop. I opened my third shop in 2010 and I am now planning to open my fourth shop in the autumn. I’ve found that the shop front produces pretty much all the volume of new business that we can handle, putting the business in its best position yet.

In response to the increase of business I now employ five full-time accountants and an administrator between the three shop fronts. I was initially wary of taking on people unless absolutely necessary but I found that it’s clearly the way to go if you want to grow your business. The last thing I want is to have to turn business away so to cope with demand and to maintain good client service the team is absolutely essential. With three shop fronts, it’s important to put some thought into how to manage both at the same time. I have now appointed a manager to run the Bishop’s Stortford shop front and I am based in Colchester. The third and fourth shop fronts will run on a leaner basis as satellites of the two main business, with one person dealing with clients’ accounts day to day, letting me come in two days a week. I expect the new shop front to grow steadily and when the time’s right I expect I’ll take on a couple more employees in relation to the amount of business. The rate of development with TaxAssist Accountants is very fast –

there’s a great deal of potential there for franchisees.As my business has grown, I’ve continued to make use of the training and support on offer from the Norwich based Support Centre. TaxAssist Accountants have provided me with an incredibly comprehensive training package that included a five-week course that focused on all aspects of running a business. The training taught me new approaches to accounting while reinforcing what I already knew. It gave me the confidence that I would be able to bring success to the business - refocusing my existing skills to ensure I had a full understanding of the TaxAssist Accountants model.

I was initially attracted to TaxAssist Accountants because of the significant support – the whole package is incredibly solid and I found it very reassuring. In fact, since I launched the business in 2002, in many ways the support has kept on getting better. TaxAssist Accountants are dedicated to their franchisees and their advice and guidance is very clear, to the point and incredibly helpful. Net growth in fee bank continues at a steady pace.”

Case Study: David DixonBishop’s Stortford, Brentwood, Epping & Ipswich

The Ipswich shop, shop launch with the Mayor of Ipswich, Ipswich at night


Case Study: Lloyd EvansKingswinford & Halesowen, UK

Lloyd Evans (left) and Kingswinford Storefront (centre)

What made you decide to join TaxAssist?

“I qualified as a Chartered Accountant with Ernst and Young in 1990 working primarily within their small business team. As well as gaining valuable experience in practice post-qualification I subsequently spent more than 20 years in industry working in a number of SMEs across a variety of industry sectors. One of these sectors was Franchising with ChipsAway where I joined as Finance Director in 2006. I became Chief Executive in 2007 leading them through the acquisition of IPR, from the American originator, and the subsequent sale to a PLC. I was involved in a later buyout which saw the business (along with other Franchise brands) being bought into private hands.

In 2012 I moved on following a wish to build a business of my own where I had the majority stake. I was looking for something where I could use my skills and experience gained over many years. I knew the benefits of being involved with a quality franchise so I turned to that sector for my inspiration. I looked at a variety of businesses within franchising but none of them gave me that spark, until I looked at TaxAssist! I felt I could use my experience gained from working within a professional Accountancy practice, and I very much enjoyed the buzz associated with helping small businesses. Additionally, I felt I could provide added value to my clients through my experience of being involved with, and running, SMEs.

In addition, I knew of the high reputation of the management team, the strength of the brand and business model. This was supported by many awards, gained from both within and outside the franchise industry. I carried out a high level of initial research before committing to an Open Day. After meeting the

team on that day I was convinced this was the right opportunity for me – that’s where the excitement and hard work really started!”

How is the training and support?“The initial 6 week training course was intense and helped prepare me for a life back in the Accountancy Practice world. I also met other likeminded people who I got to know and develop a friendship which still continues. The initial course was as much about getting to know, and build relationships with, the support team in Norwich as it was about the technical and practical aspects of owning and operating a TaxAssist franchise.

Ongoing technical training courses are available across a variety of topics, which help to ensure technical knowledge is enhanced. This is supported by a technical helpdesk.

Marketing support has been excellent with practical guidance being available at the end of a telephone. They were particularly helpful when we were setting up the shop – first class! Since then we have picked their brains a number of times for marketing ideas and guidance.

Karl, Phil and Sarah have been particularly helpful - extremely supportive and genuine people with high levels of integrity!”

What have been the highlights of being a TaxAssist Franchisee?“Working for myself with the challenges, flexibility and excitement that brings. Being part of a team which includes our shop team, fellow franchisees and the support team in Norwich.”


Next StepsFor a confidential chat regarding the TaxAssist Accountants GTA franchise or to request a copy of our Information Package for Canada please call the recruitment team on (905) 267 8542 or Book An Appointment for a 10-minute chat by copying and pasting this link into your web browser:https://www.timetrade.com/book/TD1VM

Alternatively please go to www.taxassistfranchise.ca where you can download our Information Package for Canada and where you can also find additional information about the TaxAssist Accountants franchise model.

If after our conversation we feel the opportunity is right for you we would invite you to attend one of our free Franchise Discovery Days to fully discuss all aspects of our franchise and how we support our franchisees.

The Discovery Day covers:● Network overview● The franchise package● Training● Technical support and software● Bank funding● Business development● Business Planning● Research● One-to-one meetings

The days are relaxed and designed to give you all the information you need to decide if TaxAssist Accountants is the right opportunity for you.

We look forward to hearing from you!

How are things going? Have you learned from any mistakes?“After training I moved into serviced offices, when it quickly became apparent that I needed some administration support. Sarah joined me in February 2012 initially on a part-time basis (2 days per week) to provide that support. Sarah is now full time and progressing very well through her Bookkeeping exams, which I am part funding. We moved into a shop in September 2013 and have not looked back since, another part-time employee will be joining us shortly.

Financial and personal targets are being met, however Rome wasn't built in a day, patient growth is far better and will provide a stronger business going forward!

There is much hard work ahead for anyone staring in business and just because you join a franchise that does not mean it is any easier, however you do not have to re-invent the wheel, and you are part of a team”

What would your advice be to anyone looking to join TaxAssist?“If you have a desire to work for yourself and have an interest in small business then look no further. Ensure you carry out research about your target area and visit/speak with existing franchisees to pick their brains. During this process you should find out whether this is the business for you. Just because TaxAssist is a good business doesn’t make it the right business for everyone.”

What are your development and growth plans for the future?“We aim to have a multi-shop franchise but the timing and location of each shop must be right. We are building an asset for the future and with my daughter showing an interest in Accountancy, who knows she may be involved at some point – time will tell.”


The Accounting and Tax Service for Small Business

T: (905) 267 8542 I E: [email protected] I www.taxassistfranchise.ca

This document provides franchisee case study information about TaxAssist in the United Kingdom, and not Canada. No representation, warranty, condition or guarantee is made with respect to the success of the franchise program in any Canadian jurisdiction, which will be dependent upon a number of factors including the business ability and skills of the prospective franchisee.

The prospective franchisee is encouraged to conduct an independent investigation of the franchise opportunity described herein.

Please note that this is an information document only. A Franchise Disclosure Document will be provided in accordance with applicable law to prospective franchisees by a TaxAssist Master Franchisee.

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