114 Retail report DP 29/10/07 19:45 Page 1
Industry Report
The benefits of a premises
based business
Moving into leased or even bought
premises can take a chunk out of
T
axAssist Accountants are a network of over 160
franchisees, with over 60 in shop front premises
who provide accountancy, tax and other related
your capital investment at the
services to small businesses. Franchisees have the
option of starting up in either an office or a shop front,
launch of your business, but can
but all franchisees need to be in a shop front by the end
also bring multiple benefits to your
of their third year of trading.
What do we mean by shop front? When we created the first ‘shop front’ in
business, reflects TaxAssist Norwich our main intentions were to create a modern, welcoming, branded
Accountants Founder Karl Sandall
office with the aim of departing from the look and characteristics of traditional
accountancy practices.
We have found that having a shop front premises brings a number of key
benefits to franchisees:
• Visibility
• Credibility
• Confidence
• Walk in business
• Brand reinforcement
We work closely with our franchisees, helping them to identify premises, often
by driving around the franchisee’s territory with them, as both location and
premises have to be approved by the Support Centre. We also provide help and
advice with regards to staff employment, IT and business planning and a
dedicated member of staff is always on hand to assist with the move to a shop
and to help with the shop front launch party, signage and PR.
Most of our franchisees lease their shop fronts, but of course if the right
opportunity presents itself, as it has done in a few cases, franchisees have
bought their shop. Often there will be a flat over the shop that can be rented
out and in some cases this covers the mortgage payments on the shop itself.
So, do the figures back up the move from office to shop front? Yes they do.
Analysis of the Management Information of franchisees prior and post moving
into a shop front has shown clear differences in the growth rates. The figures
show a marked increase in the number of clients after opening a shop front.
In the first 12 months, client acquisition almost doubles per month and
increases on average by 65 per cent in subsequent years. In the first 12 months,
average fee bank per month increases to almost double and on average 75 per
cent and 92 per cent in subsequent years. The overall results clearly show the
positive impact of a shop front opening for franchisees in gaining new clients
and for charging higher fees.
FURTHER INFORMATION:
Read more about TaxAssist Accountants on page 50
Read more industry reports on The Franchise Magazine online at:
www.thefranchisemagazine.net
114 ©2007 The Franchise Magazine
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