She comments: “I’ve had a great reaction, both from would-be franchisees looking to invest in this business model, which has proven to be successful in the U.K. and Ireland, and also from the Canadian small business community, who see us as filling a huge gap in tax and accounting services for SME business owners.
“The storefront concept – TaxAssist Accountants franchisees operate in highly visible, friendly, convenient and accessible retail premises – is something which is proving extremely popular, as well as the fact that we only serve small businesses, which means we can specialise in their particular needs.
“Canada has a burgeoning entrepreneurial community, from traditional tradesmen and women, building sub-contractors and design consultants, to independent retailers, food retailers and manufacturers, arts and crafts suppliers and a whole host of other self-employed individuals.
“There are seasonal Canadian tax preparation companies who look after personal tax returns, but no other accounting and tax preparation business specialises solely in the small business market and provides year-round accounting, tax preparation and advisory services through professionally appointed storefront locations.”
Rina, who previously held senior executive positions with Manulife Bank of Canada, Equifax Canada and other financial services companies, before running her own consulting company, is holding Discovery Days for people who want to find out more about becoming a TaxAssist Accountants franchisee.
“Not all TaxAssist Accountants franchisees are accountants, but they will all have certified professional accountants on their staff,” said Rina. “We’re speaking to people who want to run their own business, within the supportive environment of a tried and tested network model.
“It may be as the next step in a career in financial services or business management and will appeal to people who want the benefits of a good income as well as an asset they can sell in the future.”
TaxAssist Direct Limited was launched in the UK in the mid-1990s. It has built a 200-franchisee network across England, Scotland and Wales, with fee income of more than CA$48 million. TaxAssist Direct International Limited signed its first Master Licence in the Republic of Ireland five years ago and now has a 23-franchisee network in Ireland, with fee income of almost CA$4 million. TaxAssist Direct Limited’s largest franchisee to date grew his business to CA$ 1.4 million revenue per year and sold the business two years ago for CA$ 1.8 million.
Canada has a burgeoning franchise sector, worth some CA$ 100 billion. TaxAssist Direct International Limited plans to grow its business across the country with Master Franchisees for Ontario, Quebec, British Columbia and Alberta. Future international expansion is planned for the U.S., New Zealand and Australia.