FAQs

As an accountant you are not permitted to operate as a traditional incorporated business, but as a CPA qualified accountant regulated by the CPA, you are able to operate as an Incorporated Professional. Franchisees may start as a Sole Proprietor before becoming an Incorporated Professional or start as an Incorporated Professional from the outset, whichever is the most tax efficient route.

No there are no conflicts. While by default, as all franchisees trade as TaxAssist Accountants, you will be an associate of other franchisees within the TaxAssist Accountants network because all franchisees will be members of CPA and are classified as Incorporated Professionals.

However, all TaxAssist Accountants franchisees will operate as independently owned and operated businesses, notwithstanding the above “association” with other franchisees in the network, which “association” is defined by the CPA and does not constitute any legal relationship between franchisees.

If, as a CPA, you are looking at franchises, this along with the trading status and activity of the Franchisor, is something that you will need to consider.

Notwithstanding any of the information contained above, it is recommended, however, that you satisfy yourself about the requirements of the various Canadian accounting bodies e.g. CPA Ontario.

Master Franchisees’ roles are that of a training, support and communications business being responsible for recruiting and training a network of franchisees and providing ongoing business development. All technical support will be outsourced to a third party and not provided in-house.

We have a proven business model, namely the provision of professional accounting and tax services to small businesses while operating from branded storefront premises, and franchisees are required to follow this model.

Franchisees are free to:

- Set their own fees

- Network and advertise within their territory

- Engage directly with clients

- Recruit their own staff

- Operate from an office for up to two years before committing to store front premises

- Leave the franchise and take their clients with them

- Sell their business

The level of control is deliberately low as ultimately it is your business though the level of support we provide is much higher as we know what it takes to run your own business.

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.

The Master Franchisee has no direct client relationships.

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.

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.

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 network, after you have attended a Discovery Day and we would encourage you to speak to as many existing franchisees as you possibly can as part of your research.

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 two years 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 Accountants Franchise term to form one pool and full Management Service Fees will be payable on the total pool of fees.

The initial term of the Franchise Agreement is ten 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 for 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.

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.

Formed in the UK in 1995, TaxAssist Accountants is a leading franchised accounting organization in the UK, Ireland and Australia. TaxAssist Accountants 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 440 store fronts and offices, and growing. The retail location brand is supplemented by the many branded cars, national advertising, internet 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.

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. 

You will be allocated an exclusive marketing territory defined by postal code boundaries. No other TaxAssist Accountant 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.

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

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.

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 Canadian tax season (January to April) we have strategies to ensure that cashflow is even throughout the year.

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 Day.

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.

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 regions.

Along with a recognized Canadian accounting designation, one of the other 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.