Become a Franchisee

Creating a viable business requires a lot more than just supervision and technical support. Being focused on becoming a tax agent is one thing - but you do not want to be a poor, struggling tax agent. You want a dynamic business otherwise you may as well work for someone else on wages.

With our franchise:

• Community: We create a holistic environment that also focuses on information dissemination, practice management, business development, marketing and internal networking. You become part of a community. Share experiences and learn from others. Some of our franchisees have even worked together or purchased fees together to get ahead.
• Support, advice and growth: We regularly send emails with updates, advice, tips, recommendations and professional development suggestions. You will also have the opportunity to join our forum and network with other members for support and advice including tax agents in the network and experienced practice owners (other franchisees) who, like you, are on their journey to obtaining their licence and building a growing practice.
• Acquisitions: The opportunity to look at buying fees and practice acquisitions to expand.
• Boutique: Small group structure for non-tax agents under supervision - not a large impersonal system.
• Seminars: Participate in our seminars in Perth and the east coast.
• Socialise: Attend our dinners and events. We work towards a cohesive culture and connect our franchisees.
• Compliance to consultancy - scope of work: We also back our focus on the opportunity to expand into consultancy services as we are the founders of TaxFitness - a unique software platform that empowers accountants with the ability to produce advanced reports targeting tax planning, business advisory and business benchmarking for clients. Consultancy services are areas to advance into. Do not be confused by all the advertising that industry accountants use to say they provide these services - we know for a fact that only a niche market of accountants actually do. The rest just advertise that they do but the client never experiences the service at all. Up-skill into this area and you have a very dynamic, fee-generating business and you will have very few industry competitors.

Understanding consultancy services and out sister business TaxFitness:

• Success Tax Professionals is our franchise for tax and accounting and has been operating since 2003. You purchase the franchise with a grant fee and then pay franchise fees (this information is covered in our information package).
• TaxFitness is our advanced software platform which we started in 2016 as we saw a gap in the industry centred around simplifying workflows and automating processes for tax planning and consultancy services for business clients. TaxFitness requires a subscription. It is available to the entire public practice industry.
• Look forward: Compliance services like tax returns, BAS, etc you mostly look backward in time - you get the data and you do what you can. Consultancy services you look forward - you achieve outcomes for the client by mapping against strategies and benchmarks and creating a journey for savings, asset protection and wealth. You have so much opportunity to work with because you are not dealing with the past but the future. Life changing choices can be made. Doors are open. (Whereas with compliance you are working in a closed room trying to move existing furniture around and give the client the best configuration you can).

Consultancy services are typically more complex areas to work in, often resulting in accountants avoiding them and thereby disadvantaging their clients and themselves (as these are valuable fee-generating services). Why do many accountants avoid these services - lack of knowledge, limited skills, not confident, too afraid to have the conversation with the client as they fear rejection, unable to discuss benefits with the client, too absorbed in being a technican with lower paid work in the compliance sector. Then the client often leaves and finds a more capable accountant.

With TaxFitness we have made it our mission to make these services more accessible to accountants through software that imports client data, uses AI to assist (not replace ability) in strategy selection, recommendations and findings. Our resources centre assists accountants in learning how to deliver these services, sell the benefits to clients and implement the strategies while charging the correct fees.

Just imagine being able to complete end of year financials and tax returns for a business client AND be able to take their services to a whole new level by wowing them with the signficiant tax savings and improvements that consultancy services can generate.

Begin your journey with compliance services such as BAS, tax returns, tax advice, accounting, end of year financials, etc, but keep in mind the potential to expand into more dynamic services as your knowledge increases.

It is important to understand that consultancy services are not basic adhoc advice tacked on the end of a compliance service or thrown in as unstructured free information. Consultancy services are highly structured, targeted and specific using real imported client data, selection of strategies from a database, report generation that maps the outcome of the strategies/savings/implementation costs and benefits AND the data and outcomes are able to be explained to the client by the practitioner. Fees for these services match the value they provide and being able to charge these fees is important. These are premium services of high value.

What if I cannot provide consultancy services:

If this is not for you then you should focus on being the absolute best compliance accountant that you possibly can be. This means:

• Focusing on professional development.
• Obtaining positive customer reviews.
• Networking with business groups and communit groups to establish a strong and growing profile.
• Advertising with key messages and any points of difference about your practice's services. Say what you stand for. Not the boring and typical slogans such as 'tailored' or 'personalised' service. Everyone says those things.
• Be reliable - answer email and calls professionally and quickly.
• Get the work done on time.
• Work out a referral system for higher-tier work that you cannot complete. Avoiding it completely is not the answer.