OUR BUSINESS
Some Key Factors

• For Franchise Applicants
• For Customers Seeking a Tax or Accounting Service

• Accounting practices trading as 'Success Tax Professionals' are franchise practices belonging to the Success Tax Professionals network of accountants.

• Success Tax Professionals practices provide the full range of services for Individuals, Businesses and Self Managed Superannuation Funds. Services are professional practice services.

• The Franchisor is STP Tax Agents Pty Ltd, trading as, Success Tax Professionals.

• Success Tax Professionals are Registered Tax Agents and hold registration with the Tax Practitioners Board.

• With regard to accountants, the Franchisor is responsible for determining applicant suitability, assessment of qualifications and overall compatibility for membership to the franchise. Following 'suitability assessment' and purchase of the franchise members are eligible for franchise benefits related to support, marketing, training and business development. The Franchisor therefore has a vested interest in:
  
  
  • The development of its franchisees (i.e. accountants and their practices).
  • Quality, standards and performance in relation to client services.
  • Customer satisfaction and results.

• Accountants in the group are able to provide their clients with value added services based on their ability to access technical resources, professional training and various franchise tools and product information. The dynamics of the franchise allow for the Franchisor to focus on support systems and to make these accessible to group members for the benefit of their practices and client services.

• The Franchisor does not provide accounting or taxation services to clients as its core business is in the development of systems, tools, procedures, support, quality monitoring, professional training and various franchise expansion activities. Customers are able to choose a Success Tax Professionals practice for services from our web-site and can be assured that they are choosing an organisation of size with quality systems.

  Practice Locations Link

• The professional development training provided by the Franchisor to its members is in addition to any other formal qualifications - meaning that formal qualifications do not exempt an accountant from participation in the Success Tax Professionals 'Professional Development Programme'. Accountants can therefore be assured that they are receiving on-going development to keep up with change and the customer purchasing a tax service can equally be assured. 
  

The Importance of Learning Programmes:

Not all accountants in the tax industry continue to keep up to date with advancements, policy changes, and new products.

Reasons for this might include lack of interest or time. A primary reason however is often the cost involved in attending professional workshops and information seminars, and also the significant cost of purchasing resource material.

Training and information comes at a price and many accountants or the companies they work for are not prepared to incorporate this into the work environment as an 'essential' requirement. Nor do some accountants feel a need to commit sufficient time to training the staff in their practices. 

Success Tax Professionals practices are different. As Success Tax Professionals has a central body responsible for areas such as training, support and information, our accountants and practices have access to extensive material and professional development. Our accountants also deal with all client matters and build equity in their own practices. This is a satisfying arrangement for our accountants and also their customers.

Low Cost Entry Level and Accessibility

STP represents a combination of sound franchising principles and original business concepts.  The final product is a franchising model that is affordable and of interest to a wide potential franchisee base.  Many franchises are expensive, making them beyond the reach of people who otherwise hold appropriate qualifications and business aptitude. This is not the case with Success Tax Professionals. Accessibility to the model allows for a wider market.

Career Path

Some of our most successful franchisees at the time of joining were not registered tax agents and some were continuing the process of completing their formal course of study or bridging units. Others had accounting qualifications but had not previously worked in public practice, for example, company accountants. Other applicants had used their qualifications and abilities to work as seasonal/casual tax preparers or in public practice for an employer (i.e. on wages). Some recruits were even working well beneath their abilities and qualifications as bookkeepers. Since joining, various members have achieved Registered Tax Agent status in their own right and others are well on their way, or even with applications currently before the Tax Practitioners Board. It is a requirement of the franchise that members achieve Registered Tax Agent status and be prepared to fulfill the necessary criteria within a reasonable period of time.

Tax Agent status does not however magically facilitate a successful business. Our franchise therefore is multi-faceted in providing business development support. Viable businesses do not simply occur because someone is a tax agent and has an office. Viable businesses occur when smart procedures are in place, work tools are used productively, practitioners are skilled, customer service is given high attention, and business expansion opportunities are undertaken.

Prior to tax agent status being achieved, one hundred percent of all non-registered tax agent work is reviewed, checked and delegated on by a registered tax agent. The customer therefore receives the benefit of two accountants having evaluated their circumstances, paperwork and claims. Once the work has passed internal quality assurance processes to the satisfaction of the registered tax agent they then take lodgement or other finalisation action. Importantly, it is the franchisee who establishes full rapport and a business relationship with their clients.

Obstacles in the General Tax Industry

In the general taxation industry. when accountants work for an employer or practice owner who is a registered tax agent (i.e. they work as an employee on wages in a firm) a number of circumstances might occur that could restrict their career path:

1. The employer structures their practice so that their employee accountants do not see the clients. They do not get the opportunity to build rapport with the clients or have the opportunity to learn important communication and interviewing skills. The employee accountant remains back office, removed from public contact, while the employer becomes 'the face' of the practice and interviews the clients, but then passes the work and interview papers to back office staff who prepare the taxation returns and accounts for the client.
   
   The employee accountant therefore performs data entry and learns very limited business skills - if any. The client has no knowledge that the practice owner who interviewed them did not also prepare the taxation return, because the practice owner signs the taxation return as the registered tax agent and their name therefore appears on all relevant paperwork and documents produced for the client.
   
   This is a common occurrence whereby the practice owner may seek to protect their client base and business by limiting their employees direct contact with clients and also the development of their skills. This means the employee poses 'no threat' as a competitor.
   
   
2. The employer refuses to provide the employee accountant with the required reference to support their application for registered tax agent status, even though the employee meets the qualification and experience requirements.
   
   
3. The employer invests very minimal time and funds into regular training of their staff. This could be due to the training cost involved, as good training is frequently expensive in terms of dollars and also involves time away from processing work in the office environment. It can however also be to limit the employee's skills to only the level deemed necessary to get the work done and without fear of future competition from the employee.
   
   
4. The tax agent incorrectly approves work prepared by employee accountants in the firm without checking the accuracy first. This results in lack of important developmental feedback to employee accountants and also fails to provide an ethical service to clients in relation to the accuracy of the data.

Circumstances such as those listed above can leave a person with ambition and desire to run their own accounting practice in difficulty or can dramatically slow down the time it takes to realise this goal.

By comparison

Success Tax Professionals takes a modern approach to developing accountants and assisting them to achieve functional business status and viability. 

STP establishes a career path that allows our accountants to build equity in their own business at the same time as working towards their tax agent status. 

Registered Tax Agents continue with STP under the franchise contract and continue to receive all the same benefits and support as well as specific assistance tailored for tax agent level. Non Registered and Registered Tax Agents operate under separate fee structures which acknowledges their level of achievement and differing needs.

We do not set up obstacles as some employers may do so as described above. Quite the opposite. We help accountants to build equity and business dynamics:

1. All of our accountants and practices build rapport with their clients.
   
   
2. All of our accountants have full communication with their clients and deal with client matters themselves, or via their trained staff.
   
   
3. Our accountants comply with franchise requirements but also have the option to add their own creativity to allow for a modern non-sterile servicing environment for their clients.
   
   
4. Our Professional Development Programme targets change, advancements and up-grading of knowledge. We build knowledge. We do not restrict knowledge. Better knowledge, better accountants.
   
   
5. We are not in competition with our franchisees. We have the same goals and vision. Our business is affected by the results of our franchisees.
   
   
6. Tax Agent status is not restricted by us. We provide all required references when experience and qualifications meet the criteria. Registered Tax Agent status is welcomed as an achievement in Success Tax Professionals. We advertise opportunities for franchisees to expand their business and this assists in achieving the required experience levels.
   

Our franchise is not suitable for applicants who are purely seeking registered tax agent status, but who do not want to remain within the franchise network following this. The terms and conditions within the franchise contract contain specific conditions to protect our investment and business.

More Details are in our Information Package

Further details about applicant suitability, benefits and the franchise structure are available in our Information Package which can be requested from our Franchising Office.

As the Franchisor we are not interested in easy sales. It is important to note that we have a seriously high level of investment and interaction with our members on an on-going basis after they join. We therefore need to establish compatibility between the purchaser and ourselves - this includes a comparable vision regarding targets and goals, understanding of the franchise contract terms, conditions and time lines, willingness to attend on-going professional development provided by the Franchisor and understanding of the virtual team environment and STP culture.

Every franchise arrangement that we enter into is effectively a 'partnership'.

STP is uniquely positioned in the accounting and tax services industry due to its different approach and perspective but has firm anchorage in solid franchising concepts.

Request an Information Package Link