The practice has been purchased by experienced accountant Hugh Connolly, who said: “I had always been interested in working for myself and was researching the best way to realise this ambition.
“As I had not run my own business before, being part of a franchise with support of a strong network, was a very attractive option for me. Whilst there are costs to being part of the TaxAssist franchise, these costs are more than compensated through the reduced business risk and the range of support provided.
“I met with the Support Centre team who introduced me to the Tallaght practice that was being sold by Mark. I arranged a meeting to find out more and followed up on this by speaking to several existing franchisees and completing my due diligence. The feedback I received indicated that Mark had built up a strong client base and it would be too good an opportunity to miss. I am now looking forward to working with an excellent and supportive team and growing the client base further.”
On selling his practice Mark said “my experience as a franchisee has been excellent, I have never regretted making the decision to join and am pleased that the franchise continues to grow. We were able to build a good business and income and have now had the ability to realise my investment at a decent multiple.
“I have no doubts that being part of the TaxAssist network has been a significant factor in this success. I am very pleased to have been introduced to Hugh, who I am sure will make a great job of continuing the growth of TaxAssist Tallaght.”
Alison McGinley, TaxAssist Ireland Managing Director, said: “Buying a practice through a resale can provide many advantages, including investing in a ready-made business with a fee base, established premises, experienced staff and practice management systems in place.
“Incoming franchisees benefit from an immediate income stream with access to our full range of ongoing technical and business development support, advice and training enabling them to develop the businesses further. Added to this, the banks remain fully supportive of our business model because of the reduced risk of franchising and our proven track record and will typically lend 70% of the total investment required.”
If you are interested in finding out more about joining TaxAssist Accountants, regular virtual Discovery Days are held, where you meet with the Directors of the franchise and find out more about the technical and business development support on offer. Call 1800 98 76 09 to find out more.