Q - WHO ARE TaxShops BEST SUITED FOR?

A - TaxShops are ideal for newly qualified accountants wishing to enter into practice on their own. They are also the perfect vehicle for accountants currently working for large firms or in industry, who want to start their own accountancy practice.

 

Q - WHAT ARE THE BENEFITS OF OPENING A TaxShop?

A - The main problem accountants have in starting a practice is the time it takes for their practice to build. Opening a TaxShop gets you up and running immediately, armed with the UK Taxshops practice-building techniques and being able to trade under the recognised UK TaxShops banner.

 

Q - WHY CHOOSE A TaxShop RATHER THAN A FRANCHISE?

A - Accountancy franchises in the UK have had a rather chequered history - some successful, others dismal failures. The cost of many franchises is disproportionate to the reported returns. Additionally, most franchises charge an ongoing percentage of income fees. UK Taxshops do not.

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OPENING A TaxShop

Opening a TaxShop presents an effective way to start-up in practice armed with the benefits of someone else's hard-gained experience - at a reasonable cost. Our costs compare favourably with the initial outlay normally needed to open a practice from scratch. Our experience is priceless.

 

There are various different ways of starting a practice. Fairly often, an initial step taken by many accountants who are in paid employment is to work from home and take-on a few clients as and when they become available. This works, but it usually takes a considerable period of time for a client-block to build into the size that would enable the practitioner to give-up his or her paid employment. When that step is finally taken, the accountant may decide to continue working from home - at least for a while. There are pros and cons to working from home. The good side is that overheads are kept to a minimum. The bad side is that one is never away from one's work - or from one's clients.

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Some take the plunge and rent an office. It needs furnishing, and equipping with office furniture and equipment. Often, the site of the office is badly chosen, and little or no passing trade occurs. Advertising is needed, which can prove costly and far from cost-effective. The months pass, business is slow, and capital decreases. The practitioner begins to wish they had not taken the step. When what few new clients there are do step across the threshold, there is a tendency to undercharge just to get the business. The reason for the practitioner's plight is simple - what is missing is one essential element - experience.

 

It is true that personal experience can only be gained. However, other people's experience can be acquired - at a cost. It is worth paying for because it has been hard-earned. So it is with the experience we have acquired over the past 40 years. It has led to a great deal of expertise which initially we utilised ourselves, but which now we also market to others. In the past twenty years we have set-up and operated more than 25 TaxShops, either for ourselves or on behalf of others.

 

The TaxShops operation is not a franchise organisation - beset with all the problems and shortcomings inherent in franchises. Instead, it is a business opportunity for accountants to start and quickly build-up a viable practice based on our more than 40 years of experience, for a very reasonable cost. If you would like to explore the TaxShops concept further, or if you'd just like a chat about any aspects about which you are unclear, email us at​​​

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mail@uktaxshops.com ​​​​​​​​​