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Introduction to TaxAssist Accountants

The Accounting and Tax Service for Small Business

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TaxAssist Accountants is a successfulnetwork of accountants focused on thesmall business market. We provide theopportunity for accounting and financeprofessionals to develop their ownprofitable accounting business and buildan asset for their future.

Now a global brand, we were founded in 1995by a group of dedicated professionals based on aconcept that was and still is fundamentallysimple: to bring first class professionalservices to small businesses (i.e. sole proprietors,trusts, partnerships or companies with a turnover ofless than $4 million).

Through innovation and franchising, we knewwe could deliver superior services to clients andmaximize growth potential for our franchisees.Franchising helps to minimize the risks andpitfalls usually associated with business start-upsby providing specific guidance for franchiseesnew to the business.

In a world of sometimes impersonal onlineservices, and observing how some of the bestfinancial institutions have effectivelytransitioned from closed inward-lookingsurroundings to a welcoming customer-focusedatmosphere, a large percentage of our globalnetwork is now operating successfully fromstorefronts.

Now launching in the US, we have more than 425 store fronts and offices across the UK, Ireland and Australia, servicing over 86,000 small business clients and self-employed individuals. Through retailing accounting services, our intention is to depart from the look and characteristics of traditional accounting practices by providing modern, accessible and welcoming locations for our clients, allowing them to access our services at their convenience.

Our market

Every small business needs to have an annual set of accounts prepared in one form or another, for taxation and other purposes. Very few business people have the knowledge or inclination to prepare their own accounts, hence the ever-increasing demand for accounting services.

In addition, there are people who need to complete their own personal tax return who will usually need some help and will turn to a professional for assistance.

The small business market is huge – the US is a nation of small businesses and a TaxAssist Accountants franchisee is perfectly placed to service this growing market.

According to the US Small Business Administration 2019 Small Business Profile:

● 30.7 million small businesses in the US.

● 99.9% of all businesses are small businesses in the US.

● 59.9 million people employed in small businesses.

● 47.3% of all US employees work in small businesses.

Accounting in the cloud

Cloud-based accounting software has revolutionized the way accountants operate and interact with their clients. To stay one step ahead of the competition, and to be at the cutting edge of new technology, you need to be able to offer a service that attracts and retains every kind of small business client.

At TaxAssist Accountants we continually research, evaluate and recommend the best software to suit the needs of our network and its clients. This is an ever-changing arena we monitor closely to ensure we offer first-class training and support to our accountants and their staff with the advent of each new development. The implementation of leadingcloud-based technology has enabled our globalnetwork to develop even stronger relationships with their clients.

TaxAssist Accountants

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Client advisory services

Not surprisingly, the nature of client advisory services is evolving as it takes changes in technology into account. Our industry similarly needs to continually evolve to remain relevant. Clients understandably expect their accountant to offer services beyond traditional tax and compliance, such as guidance that assists them to navigate business challenges and assess business growth opportunities.

At TaxAssist Accountants we care about the success of our clients’ businesses and our current client advisory services include tax advice, bookkeeping and management accounts, cashflow and profitability analysis, additional service providers and supporting our clients to achieve their goals. Our Trustpilotrating and reviews on Google and Facebookacross the UK, Ireland and Australia reflectsthis, with feedback received from clients on a daily basis.

First choice for small business services

TaxAssist Accountants prides itself on being at the forefront of the changes facing the accounting industry, leading the way to ensure our accounting practices are the first choice for small businesses, and dedicating ourselves to help our accountants build a successful, profitable and future-proof ‘one-stop-shop’ business.

Establishing a network that focuses solely on smaller businesses and individuals, we are targeting a market that has a need for our services.

Who we look for

We look for professional people who have strong commercial and/or financial backgrounds. 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.

While a background in accounting is desirable, the main attribute we look for is the determination to develop a successful business. We recruit accountants and non-accountants alike. You will need to demonstrate high levels of:

● commercial awareness

● business acumen

● energy

● motivation

● communication skills

● leadership skills

● discipline to follow a business model already succesfully proven in the UK, Ireland and Australia

Your role

Being the principle of the business, your role will primarily consist of:

● business development

● marketing your practice

● managing staff

● customer service

● practice management and profitability

● networking

● being the custodian of the brand in your territory

We understand that coming from an accounting background much of this may be new to you, and we have tailored the training and support to give you the skills you will need to run and grow a successful business.

The Accounting and Tax Service for Small Business

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The Franchise Package

Full training, support and guidance are given to operate your business under the TaxAssist Accountants brand name. Training is carried out at our Support Center in New Jersey by qualified personnel in an informal atmosphere.

The standard package franchise fee of $49,950 (plus taxes) includes:

License Fee Training Fee Support Fee Marketing Hardware Printing & Stationery

You will receive:

● an exclusive franchise territory

● six weeks’ initial training focusing on accounts, taxation, practice management and client acquisition

● ongoing training program (technical, marketing, software and administration)

● operations manuals

● fully integrated accounts and tax software suite

● technical advice helpdesk and technical updates

● national and local lead generation services

● proven marketing, publicity and brand building strategies

● initial stationery and marketing materials, including your own personalized website

Store front concept

TaxAssist Accountants is a leading franchised accounting organization looking after small businesses, with over 25 years’ experience worldwide of operating a substantial network of branded offices that is well-recognized and respected.

We have a highly visible presence withmore than 425 store fronts and offices and growing around the world. The store

front brand is supplemented by our national and local marketing strategies and lead generation activities. We constantly look to be at the forefront in terms of brand awareness, technical training and support for business growth.

The store front allows you to build upa team of staff who you can delegate to,allowing you the free time to work on thebusiness and not in it.

● comprehensive support website with practice management and business development tools, templates and guides

The initial six-week training program consists of:

● accounts production and taxation for sole proprietors, corporations and partnerships

● training on taxation for both personal and small businesses

● practice management software and business planning tools

● practical case studies to work through

● acquiring and retaining clients with our proven sales and marketing training

$13,950 $18,000 $10,000

$3,000 $3,000 $2,000

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TaxAssist Accountants was particularly attractive as it is a growing brand and holds a unique position in the marketplace. Having been really impressed with the level of technical and marketing support on offer to TaxAssist Accountants franchisees, I decided that this was too good a business opportunity to miss. David Cornes CPA Australian franchisee

Next StepsFor a confidential chat regarding the TaxAssist Accountants franchise, or to request a copy of our franchise prospectus, please call (201) 492-5677.

Alternatively, please go to www.taxassistfranchise.com where you will be able to download our prospectus, as well as read more information about the TaxAssist Accountants franchise.If after our conversation we feel the

opportunity is right for you, we would invite you to attend one of our free Virtual Discovery Days to fully discuss all aspects of our franchise and how we support our franchisees.

We look forward to hearing from you!

“”

The Accounting and Tax Service for Small Business

Why become a TaxAssist Accountant?

The business model of TaxAssist Accountants is fundamentally simple – to take on lots of small business clients – with relatively uncomplicated work, while being based in visible, accessible and friendly store front premises.

Many of our franchisees sought changes to their daily routine, an opportunity to extend their skills and increase control over their career. They realized that taking on a franchise, which offers a service that has been and always will be in demand, could be the answer.

They saw the business model made financial sense, with the potential for taking a good salary, while creating a real asset for their long-term future. Accounting practices are very saleable (there are more buyers than sellers) and with the TaxAssist Accountants brand name this could add a premium to the value of the business when you decide to sell.

By adhering to the business model and taking a proactive approach to marketing in your territory, you should be attracting clients at a considerable rate. Client acquisition will be facilitated by your store front presence, and your marketing and networking activity will significantly help the build-up of your practice.

If you are self-motivated, disciplined, ambitious, hardworking and keen to build a substantial business, contact us without delay.

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The Area Representative opportunity would suit either an individual who has been working at a senior level and is looking to use their business acumen to build a scalable business, or to an accounting firm looking to go state-wide but doesn’t want the costs or risks associated in operating managed offices.

The Area Representative would be assigned a Development Area of circa 6 million population and will be responsible for facilitating franchisee recruitment, and will have shared responsibility with us, the franchisor for training and supporting franchisees within their assigned development area. In return, the Area Representative will receive a percentage of the franchise fee for each new franchisee within your development area, as well as a percentage of the ongoing Management Service Fees.

The Area Representative does not enter intothe Franchise Agreement with the franchisee. Instead, the Franchise Agreement is entereddirectly between us, the Franchisor, and thefranchisee with the Area Representativefacilitating the identification and qualification ofprospects, and introducing them to us tocomplete the recruitment process, includingthe legal Franchise Disclosure process. For any single unit operations owned by the AreaRepresentative via a subsidiary, thesubsidiary would enter into a FranchiseAgreement with us, TaxAssist Direct USA Inc.,the Franchisor.

The Area Representative Franchise Agreementwill be for a fixed term of ten years withrenewal and resales rights built into theAgreement. Area Representatives are required to also operate a franchise. This would be the base for demonstrating the business model in action to potential franchisees, as well as demonstrating the training facilities and technical support.

Target states for expansion

Of the 22 states with a population suitable for the Area Representative opportunity, we currently have Area Representative and franchise opportunities in the following:

● New Jersey

● Massachusetts

● Missouri

● Pennsylvania

● Ohio

● Georgia

● Oregon

● Arizona

● Colorado

● Tennessee

● Louisiana

● Alabama

The remaining states will be available when we enter the second phase of our expansion strategy.

The Area Representative Opportunity Build your own state-wide network of franchisees

Avendra Narayan (Liverpool shop, Australia)

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Having proven that the TaxAssist Accountants concept can be successfully replicated in the UK, the Republic of Ireland and Australia, TaxAssist is now offering Area Representative and single-unit franchise rights to selected states in the USA.

Karl Sandall, Group Chief Executive Director, says: “After years of careful research and planning, I am pleased to advise that we have completed the formation of TaxAssist Direct USA Inc. This has been a long-held wish of mine personally and always the company’s long-term aim, with our successful franchise model offering massive potential.”

The Shareholders are The TaxAssist Direct Group Ltd (85%), Hal and Jamie Gross (7.5%), and Mike and Penny Melling (7.5%).

Hal Gross, based in New Jersey, holds the role of President, with Mike Melling as Director. Karl Sandall, Phil Sullivan and John Chambers, (who are all Directors of The TaxAssist Direct Group in the UK) will also act as Directors for TaxAssist Direct USA Inc.

Hal is a Certified Public Accountant (CPA) with extensive experience in risk, audit and regulatory leadership roles at major global financial institutions including most recently at UBS’ Investment Bank and Citi, where he held senior positions in the Corporate and Investment Banking operational risk teams. Earlier in his career Hal also held management roles in American Express audit after starting his career in public accounting at Main Hurdman (KPMG).“Hal recognized the huge opportunity that TaxAssist Accountants would offer to develop and grow accounting and advisory services for small businesses in the USA,” explains Karl, “and with a strong corporate and financial background, in Hal, we saw the ideal candidate to partner with, to launch, build and mature the TaxAssist Accountants brand across the US through the Area Representative model.”

Mike Melling has had a 35-year career as a senior financial services executive in the UK, USA and Asia for American Express, GE Capital and Marsh & McLennan including board-level roles for subsidiary companies. He also served as UK President for operational consultancy Alexander Proudfoot Company serving large and mid-capitalization businesses.

TaxAssist Accountants launches in the USANews story released May 2020

As well as having extensive international business experience, Mike is also a successful TaxAssist Accountants franchisee in the UK, having purchased a large single location practice resale for £1m in 2012, followed by a further resale purchase in 2015.

Karl explains: “Mike brings with him a huge amount of energy, experience and expertise. He will be able to share best practice, having successfully invested in staff, technology and client acquisition to build his practice up to a 20-person team serving nearly 2,000 small businesses, Directors and individual clients from seven TaxAssist stores and offices.”

TaxAssist is expecting a surge of interest in franchising in the USA during and post the coronavirus pandemic, as people re-think their lives.

“These are unprecedented times for everyone, but we have a very sound business model, and our services have never been in more demand, as people look to their accountant for advice and guidance during the COVID-19 pandemic, hence our confidence in continuing with our plans to launch the franchise in the USA.”

“Our business model is going to appeal to CPA-qualified accountants working in industry, individuals with a strong financial services or banking background, as well as those that already own an accounting practice they wish to develop as part of a global brand. We are looking 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.”

Pictured from top left: Hal Gross (President), Mike Melling (Director), Karl Sandall (Director & Group Chief Executive), Phil Sullivan (Director & Group

Finance Director), John Chambers (Director & Group Non-Executive Director). Bottom left: Sarah Robertson (Group Operations Director), James Mattam

(Group Business Development Director), Daren Moore (Group Commercial Director) and Mark Fordham (Non-Executive Director).

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The Accounting and Tax Service for Small Business

(201) 492-5677 I recruitment@taxassist.com www.taxassistfranchise.com