Always been good with numbers? Perhaps running a finance franchise business is the right choice for you. Here are some of the high-quality investment opportunities in the financial services industry for savvy would-be entrepreneurs.
Tax advisory firms, bookkeeping businesses and other companies in the financial services industry generate impressive revenue figures in the UK - and the market is growing. In fact, commentators expect the sector to reach a value of just under £20 trillion worldwide by 2022 (Market Screener).
Already, businesses are finding new opportunities in the mobile and online banking services sphere, as millennials and Generation Z consumers look for new and innovative products.
Why starting a finance franchise business is a great idea
- Consistent demand - people will always need support with financial services
- Flexible work opportunities - many business owners have the chance to work remotely and choose their hours
- Great work-life balance - the more flexible the business, the greater the likelihood of developing a positive relationship with work and making time for family and friends
- Rewarding work - finance businesses help people manage their money and achieve their life goals
1. TaxAssist Accountants
TaxAssist Accountants supports businesses with a turnover of under £2 million across several different areas, from bookkeeping, business plan creation and payroll to employment law, pensions and debt recovery. The brand covers more than 200 franchised regions in the UK and has in excess of 71,000 clients.
- Becoming a TaxAssist Accountants franchisee: You’ll take on a number of different tasks as you develop your business, including managing profitability, arranging marketing campaigns, providing customer service and networking.
- How much you need to invest: There’s a minimum investment cost of £30,000.
- What you get for your investment: You will be able to enrol onto a six-week training course to hone your skills. You’ll gain access to the franchise’s technical helpdesk, webinars, masterclasses and update days for both you and your staff. What’s more, the franchisor offers support with site selection, lease negotiation and acquiring planning permission for renovations.
Brokerplan has a team of finance brokers providing support with online financial services, including equity release, development funding, personal and business loans and mortgages. As the UK’s top commercial finance network, Brokerplan works with payments of several thousand pounds up to £10 million.
- Becoming a Brokerplan franchisee: You don’t need experience within the finance sector or related fields to become a franchisee, and once you sign up, you’ll be able to work from home.
- How much you need to invest: You should be prepared to invest at least £5,995, but the franchise offers packages up to the value of £29,995. You will also need to finance recurring monthly fees to cover Financial Conduct Authority compliance costs, as well as website and email services and support in marketing and business development.
- What you get for your investment: The Brokerplan franchise package includes a two-day business training course, as well as case tracking software, which helps you organise client projects. You’ll also get your own website, professional email addresses, business cards and important documentation.
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3. Certax Accounting
Certax Accounting helps its customers with routine bookkeeping, accounting, auditing and company secretarial requirements. This national accounting franchise has been welcoming and training franchisees since the turn of the millennium, so it has plenty of experience when it comes to business growth. Today, there are more than 100 franchisees across the UK.
- Becoming Certax Accounting franchisee: This franchise offers its investors the choice of three franchise packages: the Bookkeeping package (£9,995 franchise fee), the Full Accountants package (£21,750 franchise fee) and the Qualified Accountants package (£11,750 franchise fee). You can choose the most suitable option, depending on your level of experience and the services you’d like to provide.
- How much you need to invest: You can become a Certax Accounting franchisee for a minimum investment of £11,750.
- What you get for your investment: You’ll be able to rely on expert technical support through the Certax Accounting helpline, and the team can offer up-to-date accountancy and taxation legislation. Also, a bi-annual seminar will offer you the chance to mingle with other franchisees in the network and engage in franchise-wide discussions.
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Rosemary supports its investors to build up successful businesses with an average net profit margin of over 50 percent. With flexible hours and the opportunity to work remotely, you can launch your management franchise unit from the comfort of your own home.
- Becoming a Rosemary franchisee: Rosemary looks for entrepreneurs with IT knowledge and the dedication to build long-lasting relationships with clients.
- How much you need to invest: The cost of setting up a Rosemary branch is £16,970.
- What you get for your investment: All investors have the chance to take part in a 12-week training programme to learn how to set up and operate a Rosemary franchise unit. The course offers guidance in winning new clients, maximising sales and delivering a first-class bookkeeping service. Throughout your franchise term, you'll receive ongoing advice and technical support on marketing, recruitment, staff management and legislation changes.
5. The Financial Management Centre
The Financial Management Centre (FMC) specialises in providing accountancy services for SMEs. The franchise has a global focus and aims to expand in both domestic and international markets over the coming years. It also welcomes the integration of new tools and technologies whenever possible.
- Becoming an FMC franchisee: The franchise is on the lookout for qualified accountants with fantastic people skills and a passion for helping SMEs with financial services.
- How much you need to invest: An FMC franchise unit requires a minimum investment of £19,500.
- What you get for your investment: All FMC franchisees take part in a comprehensive training programme to get to grips with every aspect of the business model. The course is split into two parts: building a business and developing a solid client base. Investors also get their own website, as well as access to the franchise’s CRM system to track sales enquiries.
More finance franchise opportunities
Many finance franchises give hardworking investors the chance to set up a profitable business without spending years developing in-depth accounting and money management experience. You can find out more about each of the franchises listed above at their individual profile pages here at Point Franchise.
If you’re interested in joining the lucrative industry, take a look at our full selection of finance franchises searching for new investors.
You can also find more business guides in our article catalogue and through the search box.
Alice Tuffery, Point Franchise ©