The shareholders are The TaxAssist Direct Group Ltd (85%), Hal and Jamie Gross (7.5%) and Mike and Penny Melling (7.5%).
In the US, TaxAssist Accountants is known as ‘TaxAssist Advisors’. We changed our brand name in the US as part of a plan to move the focus of the service offering away from a purely compliance function, to the many services that come under the advisory umbrella.
Franchising in the USA
The ‘Franchise Business Economic Outlook 2020’ report prepared by FRANdata for the International Franchise Association revealed:
- The number of franchised businesses in the US is expected to grow by 1.5% to a total of 785,316 establishments.
- The franchise industry is expected to add 232,000 jobs in 2020, growing total employees to 8.67 million.
- Franchise businesses' economic output is expected to grow faster than the economy as a whole.
- Overall GDP contribution by the franchise industry is expected to grow by 4.6% to $494.96 billion.
- The report also highlights that the business services sector is the third largest sector in the US with 2020 projected output of $109.5 billion.
The Area Representative opportunity
We are looking to award our Area Representative rights either to an individual who has been working at senior management level and is looking to use their business acumen to build a saleable business, or to an accounting firm looking to expand and open other locations without the expense and the management of all aspects of the offices.
Unlike the Master Franchise model, the Area Representative and us, the franchisor, share responsibility for recruiting, training, supporting and administering a network of franchisees. The responsibility will be split for the core support services. Your role will be to facilitate franchisee recruitment, train, and provide ongoing support to franchisees who open and operate single unit franchises within their Development Area. In return, you will receive a percentage of the franchise fee for each new unit sold, as well as a percentage of the ongoing Management Service Fees.
We will provide the established business model together with all the systems and tactics that have made us so successful in the UK, Republic of Ireland and Australia – you will bring with you financial and business or tax and accounting experience and plenty of energy, personality and vision – together this is a recipe for success.
The franchise opportunity
We believe there is a significant opportunity for TaxAssist in the USA. As the TaxAssist business model is to provide professional tax, accounting and advisory services to small businesses, we are not reliant on seasonality to drive income. In addition to the small business market, franchisees will benefit from the significant personal tax return market.
The coronavirus pandemic has resulted in applications for new US businesses rising at the fastest rate since 2007, according to the US Census Bureau, seizing on the pent-up demand and new opportunities after the pandemic shut down and reshaped the economy.
- New Jersey
The remaining states will be available when we enter the second phase of our expansion strategy.
Book yourself a free Discovery Session, which is a 45-minute online presentation held at a time and day that is convenient for you. It’s a chance for us to bring our great opportunity to life, to talk through the model and the leading support that we provide and give you the chance to ask your initial questions. We can host these by Zoom or over the phone.
If you are interested in a TaxAssist franchise in the USA, then please download our prospectus via the button below, call our recruitment team on +1 201-492-5677, email [email protected], or click here to book onto a Discovery Session.