TaxAssist Accountants has recently launched new franchises in Australia, based near Perth, and has identified Canada and the US as its next destinations for expansion.
The accountancy franchise, founded in Norwich 23 years ago, supports small business with everything from gaining funding to help with bookkeeping.
Karl Sandall, group chief executive director, said: “Our aim is to be the Starbucks or the McDonald’s of the accounting world; the accountants on the high street.”
The company currently runs 210 franchises out of its offices in Broadland Business Park, which it has recently doubled in size from 5,000 square foot to nearly 10,000.
“We’ve identified about 4,000 potential franchisees in the US, and growing to about 450 or so franchisees in the UK, perhaps 100 in Canada and a similar amount in Australia. We could have another eight or nine in Ireland,” he said.
Mr Sandall believes that the group’s £50m turnover could “sky rocket” if the expansion goes to plan.
He added that the company was determined to keep its global operations running out of Norwich: “We outlined our plans for global expansion in 2014, and knocking through the head office to create a bigger floor is part of making good on that pledge. We have the potential to one day take over the whole building – though the other tenants may not want to move.”
TaxAssist’s Norwich team of 50 will be expanded with more IT support roles, social media and marketing staff, and tax and pay roll experts.
Across the board, TaxAssist and its franchisees employ nearly 200 people, of which around 50 are in Australia, all of whom are trained on TaxAssist’s systems.
Mr Sandall added: “If you’re a small business, like a plumber, and you want to add a new partner, or retire, where do you go for the nitty gritty advice, where you’ll be put in contact and given practical support on what to do?
“There isn’t enough support out there at the moment, so that’s what our franchise provides.”
Source: EDP 24