1. Build your own accountancy practice with TaxAssist in your local area
Most people choose to join the network as a new start-up. This gives you the time to become accustomed to self-employment and build your team and practice up gradually. This represents a faster route to building your own practice, and generating a significant and valuable business asset.
We currently have 20 territories covered in Ireland and there still more than 10 available.
How much does a TaxAssist Accountants franchise cost?
Our franchise fee for a new start is €19,950 + VAT.
2. Buy an established TaxAssist Accountants practice for sale
Purchasing an existing TaxAssist Accountants franchise represents an excellent foundation upon which a new franchisee can further develop an established business with an income stream from day one.
The benefits of purchasing a TaxAssist Accountants practice resale include:
- An immediate income stream
- Potential for growth
- A well-known brand
- Experienced staff
How much does it cost?
Our franchise fee for a franchise resale is €9,975 + VAT, as well as the price for the overall business (typically from €150k-€500k), which is payable to the franchisee.
When buying an existing practice for sale, the price and terms will be negotiated with the franchisee selling, but typically a percentage of the total price agreed is payable on completion with deferred consideration payable at agreed intervals thereafter.
3. Convert your existing practice over to TaxAssist Accountants
If you are already an accounting or tax professional with your own practice, or client base, we can help you grow your existing business, as you benefit from the TaxAssist brand and systems.
We are seeing more practices coming to us who are considering their future plans. A combination of Covid, digitalisation, technology changes, automation, compliance requirements, and client expectations is making life increasingly difficult for accounting and tax practices.
Converting your practice to TaxAssist Accountants will not only enable you to stay on top of all these changes, but we’ll give you the technology, systems, marketing and business development support to diversify your services, develop a team and build a saleable asset.
How much does it cost?
Your overall business start-up costs will depend on your current situation and is subject to the territory location being available. Our franchise fee is the same for a resale at €9,975 + VAT.
Subject to a minimum fee base of €50,000 being involved, we will allow the fees introduced or acquired to be kept in a separate pool and for one year there will be no Management Service Fee payable on these fees. After twelve 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.
Bank funding
To enable you to join TaxAssist, we have built an excellent long-term relationship with the Bank of Ireland. We work closely with our designated relationship manager and his team to ensure they are properly briefed when they meet with you.
We're pleased to say that every franchisee requiring funding whose business plan has been signed off by ourselves has received the funding that they required, with franchisees borrowing 60 to 70% of their funding requirements.
Facilities include:
- Highly competitive rates
- Fixed and variable rate loans
- Committed overdrafts
- Business charge cards
The total investment figure will be dependent on your location, working capital and the level of personal drawings required. We will work closely with you throughout the business planning stage to create a plan that is realistic and establishes the right level of investment for you.
