With almost 73% of the population fully vaccinated in Canada, things are slowly getting back to “normal”. We are getting back to in-person events, restaurants, and social gatherings. If your boss still hasn’t called you back to work, it might happen sooner than you think.
However, surveys have shown that more than 50% of the population do not want to go back to the office. We have become quite comfortable with the work from home setting. No long commute to work, flexible work locations, being able to spend time with family and no more office drama and politics. Work from home has given us a way to earn our living while enjoying a certain amount of freedom and flexibility.
Are you ready to give up this luxury and go back to working from the office? Are you ready to go back to the stress of a corporate setting? If you are a tax preparer, you know how busy you will get with tax season coming up.
Before you decide, we have a suggestion for you. What if there was an option to earn your living on your own terms without the stress of commuting to work and your boss giving you deadlines but having the support of an experience team?
We’re talking about entrepreneurship. Being your own boss through franchising. If you’re a CPA or anyone with a financial background, this is your calling to start your own practice.
What are your options?
There are different ways you can earn your living while getting into business for yourself. You can start a new business from scratch, buy into a small business or buy a new franchise. At TaxAssist Accountants, we talk to people with diverse financial backgrounds every day. Some decide to start their own accounting practice from scratch and some decide to start a TaxAssist Accountants franchise because they think that it is a safer and more secure way to get into entrepreneurship.
The option you chose to go ahead with all depends on your goals and resources at your disposal but only franchising gives you a roadmap and a proven business model to replicate the success.
How do I start?
The right way to start exploring the right franchise for you is of course research. However, we have made a step-by step list to make the process easier for you:
Self-Evaluation
Before you consider buying a franchise, it’s important to examine what you want from a business. This step would help you understand your own motivations behind committing to the franchise. How much do you want to invest? What returns do you want from this investment? What is your priority? These are some of the questions you should be asking yourself.
Once you know what you intend to get from your business, it’s also equally important for you to analyze who you are and what are you good at particularly. If you are someone with a finance background, opening an Accounting and Tax franchise might be right choice for you.
The final thing to do in this step is to analyze the resources at your disposal, mainly money and time.
Due Diligence
Before buying a franchise, make sure you know all about it. One important factor that you should look at is the support provided by the franchisor at every step. Also make sure you talk to their existing franchisees and ask as many questions as you have. The franchisees are always a credible source of information.
Study the Franchise Disclosure Document
A franchise disclosure document is a written resource designed to provide franchisees with the vital information they need in order to make an informed decision about investing in a franchise opportunity. It is a goldmine of information. Make sure you study it carefully yourself and consult your lawyer as well to make sure of all the legal aspects mentioned in the document are covered off and you’re comfortable with them.
Meet the Franchisor
Before deciding if a particular franchise is right for you or not, make sure you meet with the franchisor and/or franchisor representatives. At this stage, you can get your final questions answered. This step is a critical check- and- balance to make sure you’re completely confident and comfortable in the company you’re about to enter into a relationship with.
Our aim is to make you aware of the options available to you if you don’t want to return to the office work scenario.If you feel you'd like to work for yourself, and the TaxAssist Accountants model attracts you, please contact us at 1-888-200-5469 or [email protected]
