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A prominent UK-based accounting network has confirmed plans to move into the Australian market, with the first franchise set to open its doors in February.
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UK tax network announces Australian expansion
12 January 2016
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Speaking to AccountantsDaily, David Paulson, senior manager of international development for TaxAssist Accountants, said the first TaxAssist Australian franchise will launch in February in Liverpool, NSW.
The UK-based network has appointed Terry Murphy CPA as master franchisee for the NSW and Queensland regions, with five of his own existing firms to be rebranded as TaxAssist Accountants.
Mr Paulson noted that future franchisees in Australia will be expected to operate from retail-style premises within three years of joining to expand visibility and exposure to small business clients, who are to be the focus of the firm.
“The idea of an old-fashioned accounting practice – certainly as it is in the UK – on the 10th floor of an office block or tucked away somewhere in a commercial unit that you can’t see into is quite the intimidating place,” he said.
“By moving them out onto the storefront so people can see in through the windows and see what’s going on, it does make them very accessible.”
Mr Paulson added that TaxAssist currently operates 181 storefronts within the UK, with a further 24 in Ireland, servicing more than 50,000 clients.
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The strength and buoyancy of the Australian market, coupled with the positive reception of franchise-based models within the country, makes Australia the perfect cultural and economic fit for expansion, according to Mr Paulson.
“We want to make TaxAssist a global brand. We’ve been very deliberate in where we go, and we’ve got a plan which we want to stick to,” he said.
“We want it to be a very deliberate and sustainable rollout. Ideally, this time next year Terry will have five franchisees, plus his own territories trading,” Mr Paulson said.
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