UK

Franchising in the UK

Franchising has proven itself to be a robust and resilient business model, even during periods of recession and economic downturn. Franchising helps to minimise the risks and pitfalls usually associated with business start-ups by providing specific guidance for franchisees newly into business.

In 2024, The British Franchise Journal, featuring a franchise survey, was published by the British Franchise Association, provided powerful evidence that franchising is one of the safest ways to own your own business.

According to the survey, an incredible 99.5% of franchises succeed, in stark contrast to the 50% failure rate of independent startups, within their first three years. This reaffirms that franchising offers a tried and tested business model to help you successfully launch and grow your own practice. Also, banks are more supportive in providing funding, as there is a lower rate of failure than going into business alone.

The survey revealed some very positive statistics, with the UK's franchise sector now worth over £19.1bn to the economy, a rise of 12% since the last survey in 2018:

• The UK franchise sector currently consists of 1,009 franchise systems, up (7.9%) from 935 in 2018
• And 50,421 franchised units, up (3.7%) to 1,800 units from 48,621 in 2018
• The average turnover of a franchise unit is £400,000
• 89% of franchise units are profitable
• 87% of franchisors expect to see an improvement in their franchise’s conditions

TaxAssist Accountants is a proud exponent of franchising and takes every opportunity to highlight the many benefits and opportunities that the sector provides. 

Being an established member of the bfa is important as it cements the franchise’s standing with potential franchisees interested in taking on a TaxAssist Accountants franchise.

The franchise opportunity

We have developed an innovative business model that allows our franchisees to focus on a lucrative market of potential clients.

Based in visible, accessible and welcoming shopfront premises, TaxAssist Accountants provide tax advice and accountancy services specifically for small and medium sized businesses, sole traders, partnerships, limited companies and personal taxpayers. In addition, they can help individuals who need tax, mortgage, income protection, pension and investment advice by referring to our teams of specialist advisers.  

By servicing the needs of local businesses, subcontractors and the self-employed, as a franchisee you can focus on a group of clients who have traditionally been neglected. We currently have more than 240 franchised areas across the UK, and there are more than 150+ territories available.

We look for people who are capable of setting themselves up in business, but see the value in the brand, training, support and systems that investing in a franchise with TaxAssist Accountants brings.

Next steps

We hold regular Discovery Days giving you the chance to meet senior support personnel and learn more about our franchise offering.

A Discovery Day is a valuable and informative information session, that gives you the opportunity to find out about our franchise in a friendly and non-pressured environment and to ask questions to establish if a TaxAssist Accountants franchise is right for you.

If you are interested in a TaxAssist Accountants franchise in the UK, then please download our prospectus via the button below, call our recruitment team on +44 0800 0188 297 or email [email protected] to book onto a Discovery Day.

Download Prospectus