Bookkeeping, tax and accounting are crucial to business. Anecdotally, there has been an increase in the demands of small businesses for expert assistance over recent years. It started with the challenges of navigating Jobkeeper and other assistance programs during Covid. Now the focus is on handling the monetary effects of higher costs of living, rising interest rates, supply chain difficulties and staff shortages.

So for anyone with the relevant skills it is a great time to be thinking about setting up as a franchisee.

Not only will franchisees be serving their local community and small business owners they will be leveraging the brand name and reputation of the franchise, with full support from an experienced team.

Tax and accounting business options for would-be entrepreneurs

Shoebox Books and Tax 

This franchise offers two models: a bookkeeping or tax franchise. Services include payroll management, accounts, tax, software and training for its business clients. 

Shoebox has more than 50 franchisees who service 10,000 clients. Turnover is increasing by 21 per cent within the franchise network each year.

The brand’s focus is on creating trust with clients. So relationship-building and a fun, personal approach is key.

Smarter Advisory & Accounting

This is a collegiate network of financial professionals, a one-stop shop offering cloud-based bookkeeping, accounting, tax compliance and management accounting. Members are able to provide clients with access to finance and insurance options.  

Typically members start with a home-based business then move to an office if required, so it’s a low-level investment.

Accounting experience is essential : association membership is preferred, or an accounting degree plus industry experience.

TaxAssist Accountants

TaxAssist Accountants has 284 franchisees across Australia, the UK, Ireland, the US and Canada. Franchisees provide services for more than 84,000 clients from 448 locations.

Of course qualified accountants are ideal candidates as franchisees, but individuals with business or financial experience can also invest in a business.

The benefits of a TaxAssist Accountants franchise include an exclusive franchise territory, 43 days of initial training, lead generation services, business development, ongoing support and technical advice  This is all backed up by investment in research and development, and an award-winning, shop-front concept.

Taxation Guru

Franchisees must hold a tax agent licence and bring experience practising tax with relevant qualifications. A background in accounting, sales and business development can be useful.

The business offers an affordable model, one week’s training, ongoing support, marketing support and access to an existing client base.

Tax Store

The Tax Store business model provides franchisees with multiple revenue streams. Franchisees provide clients with tax assistance, of course, but can also deliver CFO services, business structuring, bookkeeping and help with self-managed super funds.

Specialists in the franchisor team can assist franchisees build a financial planning, broker and insurance business too.

Typically, franchisees come from a variety of financial backgrounds: business, industry accountant, tax advisor, project manager with a business or accounting degree, bank manager, chartered accountant or financial controller.

The Tax Factor

This is a Sydney-based business, with more than 3,000 clients, looking to expand through New South Wales. 

Franchisees need at least three years industry experience as well as IPA, CPA or CA membership, and tax agent registration.