Q&A with TaxAssist Accountants

Simon Hunt has been an accountant for more than 20 years. He joined TaxAssist Accountants in November 2016 and operates his practice from King’s Lynn in Norfolk and Wisbech in Cambridgeshire.

What did you do before franchising? What prompted your decision to make the change?

I’ve worked in accounts and finance my whole career, always within industry and mostly large corporations. I left the corporate world around five years ago to set up as a financial contractor.

Contracting is like owning a job rather than a business. There is no way of scaling the business up as the business is effectively me (my knowledge, experience). So when I didn’t work, the business didn’t work. There was no asset base in the business and I wouldn’t be able to sell it in years to come.

I wanted, therefore, a business that would build an asset for me and for my family’s future. I wanted the business to ultimately run whether I’m working in it or not. For this to happen I needed a business system. So, my choice was to either create my own business system or buy into an existing one.

What research did you do and how did you come across TaxAssist Accountants?

I researched the company online, spoke to a lot of existing franchisees and kept in contact with the support centre in Norwich, who were only too happy to answer any questions that I had. Although I looked at other franchises both in and out of accountancy, ultimately I chose TaxAssist Accountants because I was impressed with how welcoming, upfront and transparent the staff at the support centre were. Once I’d completed my due diligence I decided that TaxAssist was the franchise for me.

How long was the sign-up process?

I went to my discovery day in April and then took my time in making the decision before I started my training in October.

What did the training and sign-up process involve?

I had six weeks of initial training in Norwich, which was very good, with lots to learn, both in terms of technical and taxation, including plenty of practice management, marketing and business development. Regarding the support throughout my first year of the business, in all honesty, I couldn’t have asked for more. Literally anything you need help with or that you may be concerned about, there is someone available to help.

How has your life changed since you launched your franchise?

I do a lot less travelling and commuting, which is great, and although I spend a lot of time working on my business, I feel I have more time with my family.

What is a typical day for you as a franchisee?

I get in to work around 8am, which is an hour before the shop opens. I read my emails, update my to-do list and look at my client work schedule. I try to structure my week so that I’m doing client work for two days, client appointments for two days and then a day spent working on my business, rather than in it. It doesn’t always work out that way, as you do have to be flexible.

How has your life changed since starting your franchise?

I feel much more optimistic about the future and I get a real buzz from building my business. There are times that are challenging and difficult, but the great thing is that I have the support centre to help me. They’ve been there and done it already with more than 200 other franchisees.

What would you say to anyone thinking of making a similar life-changing decision?

Take your time in making your decision and do your research and due diligence. You need to make sure your family is behind you 100 per cent as you must be prepared to work hard (harder than you’ve probably worked before). You must be prepared to follow the system, after all that’s what you’re buying into. Providing you have done all of the above and you feel it’s right for you, then do it.