Maybe you’re after more independence, a healthier work-life balance, or the satisfaction of building something that’s truly yours. Indeed, a Business & Accountancy Daily article has highlighted the increase in licensed accountants, particularly those under 34 years old, leaving salaried jobs to set up their own tax and accountancy practices.
Whatever your motivation, starting your own accountancy practice is a bold and exciting step — but it’s not something to rush into without careful consideration and planning.
Before you hand in your notice and start designing your logo, it’s worth exploring what’s really involved in launching a successful practice — and why joining a franchise could be the smartest move you make.
It’s About More Than Just Accounting
Running your own firm is rewarding, but it means taking on far more than just preparing accounts and filing tax returns. You’ll also be responsible for:
- Marketing and lead generation
- Managing client relationships
- Choosing and maintaining software
- Ensuring compliance
- Hiring and managing staff
- Handling day-to-day operations
Ask yourself:
- Do you have a clear business plan?
- Where will you work from initially?
- How will you find clients?
- Are you confident in handling the admin, legal, and tech aspects?
- Do you have the resources to support yourself through the early months?
If any of those questions feel overwhelming, you’re not alone. Many skilled accountants find that it’s not the technical work that causes issues — it’s the business side of running a practice.
Why a Franchise Can Be a Game-Changer
This is where franchising comes in.
Joining an accountancy franchise allows you to be your own boss — but with the backing of an established brand and a proven system. You’ll benefit from:
- Brand recognition and trust from day one
- Marketing support and digital tools
- Access to a tried-and-tested tech stack
- Initial and ongoing training, including sales and client acquisition
- A supportive community of fellow franchisees
- Client leads and business development advice
Most importantly, it can significantly reduce the risks of starting up. You’re building on a model that already works, with guidance every step of the way.
Is Franchising Right for You?
Franchising won’t suit everyone. You’ll need to be comfortable working within a framework and maintaining brand standards. There are ongoing franchise fees to consider, which fund your access to training, support, and systems.
But for many first-time practice owners — especially those starting out in their 20s — it’s a compelling way to fast-track success while avoiding common pitfalls.
Do your research. Speak to current franchisees. Compare different networks. Make sure you understand what support is offered and what’s expected in return.
Real Stories: Success in Your 20s
Franchisees like Jaz Grewal and Olivia Palios joined the TaxAssist Accountants network in their 20s — and each has built something remarkable.
- Jaz runs a thriving practice in Leicester, growing with the backing of the franchise model.
- Olivia launched and grew multiple practices in the North West of England, eventually selling her business and moving on after a successful exit.
Read their full stories here: Jaz’s case study and Olivia’s case study.
Starting your own practice could be the most rewarding career decision you’ll ever make. Whether you choose to build from the ground up or start with the support of a franchise, what matters most is treating it like a business from day one.
Because being a great accountant is just the beginning — becoming a great business owner is the real journey.
