Cheryl operates from Nuneaton in Warwickshire.
Tell us a bit about yourself and what you were doing prior to buying a TaxAssist franchise?
I was working in industry in a manufacturing company where I was involved in the weekly accounts and costing products as their senior management accountant. I realised that after having my daughter it was very difficult juggling home and work life with the pressure of working overtime and monthly deadlines, and I just thought no, I don’t want to work for somebody else, I would rather do something on my own.
What attracted you to franchising versus started starting up on your own or finding employment?
I chose franchising because I lacked practice experience and had no knowledge of sales or marketing myself or a business. I wanted the support that I would get from a network of accountants, a working model and best practice guidance. I thought the franchise would give me a good grounding to start the business off and it has. I have benefited from the input and support which the Norwich based team have given me and I definitely could not have done this without them.
Why did you choose TaxAssist? What research did you undertake?
TaxAssist was by far the best franchise that I looked into. When I attended a discovery day, the team at the Support Centre were genuine and open which gave me confidence that they would provide the promised level of support. It was a very relaxed day and had a real family feel to it, as they really cared about you making the right decision for you. It was not pushy and there were no sales techniques to force you into the franchise route.
As part of my research I spoke with several franchisees and all were consistent in their messages -that the model worked, the Support Centre does what it says on the tin – basically it’s down to you and the results will depend on your effort, approach and investment.
Do you feel there is enough support or training in the industry, or externally, to help mums looking to get back into work and considering starting a business? What additional support do you think would help?
There are various routes to which you can train to become an accountant. These can be weekend, evening or day courses at local colleges and training centres, so can be very flexible to study alongside bringing up small children. Colleges do also have crèches attached nowadays too to make childcare even easier.
There are so many Women in Business Networking groups both on Social Media and at Networking Events who can give guidance and support to new start up women which is invaluable in the early stages.
How did you raise the finance for funding your franchise? Did you use any financial support (grants etc) specific to business startup?
I part funded the start up myself along with finance from the bank. There were no specific financial grants in my area at the time, but the local Chamber Of Commerce gave guidance and support at an individual level for all elements of setting up in business. This involved helping with business plans, marketing and mentoring for a few months in the start up phase.
What training and support did you receive initially from TaxAssist?
There is a comprehensive initial 6 week training course, followed up by further training days at months 2, 3 and 6. This is complemented by onsite visits and of course the Support Team are available to chat to on the technical and marketing helplines. I really valued the support available in the early days.
The support that I have received has also played a significant part in the growth of my business. Having this support means I have more time to spend on servicing my clients and working on my business.
What is a typical day for you as a franchisee?
My days really vary from meeting with new or existing clients, attending networking events, managing my staff and signing off work. I love going to work each day as each day is so different.
Balancing work and family life is important for all franchisees but more so for working parents, do you think franchising gives a good work and family life balance? Has becoming a franchisee changed you and your family’s life?
I now work closer to home, I open my shop 9-5, I very rarely have to work overtime, I don’t work weekends and it’s just so much easier to juggle home and work life. I’m having so much more time now with my family. Taking on this franchise has just worked for me.
Did you take advantage of any support available to women looking to get into business? E.g. member of a women in business network, attend any specific women business events?
I have been on a number of Women in Business Networking Events within the region, not necessarily to gain business, due to my Franchise Postcode Region limitations, but to talk to others and to gain support and confidence in being a business woman.
What is the most invaluable piece of advice you could give other mums looking to get back into work and considering starting their own business through franchising?
Use your confidence in your own ability to take that first step to visit a local franchise of your interest to discuss the possibility of having your own business. You will not be alone as you should get all the support you need from the Franchisor and family and friends. Build something for yourself that your family and children will be proud of. It can seem scary especially if you have had time off through maternity leave and early years, but just that one step is just the beginning to something much more.
What are your plans for the future?
In the future I’m hoping to open another shop, buy another franchise territory, build up my staff, whom I could potentially sell the business to and then retire! But that won’t be for a long time yet!
Would you do it again?
Absolutely yes!
