TaxAssist Accountants Franchise

Meet Phil Marriott from TaxAssist Accountants in Loughborough

27th December 2013

Phil Marriott talks to us about his TaxAssist Accountants business in Loughborough.

Phil Marriott talks to us about his TaxAssist Accountants business in Loughborough.

TaxAssist Accountants - Phil MarriottI 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. As the TaxAssist network has grown, the directors and Support Centre have never lost that 'personal touch'. This makes being a franchisee more enjoyable and the franchisor relationship is not remote in any way.

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.

In December 2007 I acquired the freehold of a former bank. It is at least three times the size of the previous shop front, and provides substantial scope for further growth. The quality and average fee size of new business enquiries has improved. The fact I was confident enough to buy, and that my bank were so keen to support me, is continuing testament to the strength of the business model.

As the business has grown and the profitability improved I have increasingly been considering the longer term. One of the directors of TaxAssist Accountants provided me with considerable help to put together a plan to bring in an equity partner. In November 2011 Carl Whitehead (then an existing member of staff) became a director of the business. Since that date a phased transfer of the equity has been agreed and Carl became a party to the existing franchise agreement in 2012. This has taken away any uncertainty that could have prevailed and given the business a clear structure over the medium term.

With two equity partners 'at the helm' the business is enjoying renewed enthusiasm. This is evidenced by our decision to push ahead with a second territory in neighbouring Nottinghamshire / Derbyshire. Our second shop front opened in late May 2013 and a number of new clients have already been signed. It will provide excellent opportunity for further growth and provide greater flexibility when my own exit needs to be considered. Not many small businesses enjoy such confidence during a downturn!

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.

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TaxAssist Accountants Franchise Case Studies

Claire Woodman runs her TaxAssist Accountants business in Bristol
20th October 2016
Claire Woodman operates her business from a shop in Kingswood, Bristol with her four members of staff.

New TaxAssist Accountants shop opens in Wallington in Surrey
23rd September 2016
Anne-Marie Morais decided it was time to work for herself so she opened TaxAssist Accountants in Wallington.

Renee Mackay runs her TaxAssist Accountants business in Edinburgh
4th April 2016
Renee Mackay had run her own business for nearly ten years before buying into TaxAssist Accountants.

TaxAssist Accountants welcomed Lloyd Evans in 2012
4th April 2016
Lloyd Evans runs his TaxAssist Accountants business in Kingswinsford, Halesowen and Wolverhampton, West Midlands.

Franck Sidon runs his TaxAssist Accountants business in Chiswick, London
4th August 2015
Franck Sidon talks about his TaxAssist Accountants business in Chiswick, London.

In October 2012 Mike Melling purchased Mark Fordham’s TaxAssist Accountants business
22nd January 2015
Mike Melling bought the TaxAssist Accountants business in Harpenden and St Albans and has expanded the territory to include Radlett and...

Cheryl Hopkins runs her TaxAssist Accountants business in Nuneaton
16th January 2015
Cheryl Hopkins joined TaxAssist Accountants in July 2009 and opened her shop in February 2010.

Martin Thomas runs the TaxAssist Accountants shop in Victoria
13th November 2014
After a career spanning 25 years looking after finance in the marketing services industry, Martin Thomas decided it was time to fulfil a...

TaxAssist Accountants Franchise

Further Information

Franchise Information

BFA Membership Status
Award Winner
UK Years Established
20 years
Current UK Coverage
Franchisee Support Staff
Personal Investment Req.
£15,000 approx
Total Startup Cost
£36,950 approx
Shop-based business location Shop-based business location
Business to business services Business to business services
Franchisee employs and manages staff Franchisee employs and manages staff

Why Choose Us?

TaxAssist Accountants franchisees receive an exclusive marketing territory

What Our Franchisees Say

The support is superb. I have encountered both business and health problems while being a franchisee, but TaxAssist has always helped me overcome these problems

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