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FAQ about Taxco Franchising

How do I apply for a Taxco Franchise?

After you have read our Franchise proposal and have considered your options carefully, we would gladly like to hear from you. The next step is to complete the Franchise application and submit it to us.

Where do I find the Taxco Franchise proposal?

Full details about the Taxco Franchise is detailed under the Resources Tab. Click HERE to go directly to the Franchise Disclosure document.

How long does the application process take?

Taxco has designed a mutual investigation process to determine if Taxco/TaxBox and the potential franchisee/associate are a good fit. Apart from the general background and credit checks, we participate in a series of informative discussions with the applicant that will illustrate the strength and value of the Taxco/TaxBox organization and franchise opportunity. The process starts immediately on receipt and we will let you know within 14 days if your application was successful or not.

What do I get for my money?

Taxco Franchisees (Qualified accountants) receive the following:

You only pay for what you use or order:

  • Designated area exclusivity - Free
  • Taxco™ marketing material – Designs, Branding, Posters, Brochures, 10000 Leaflets, 500 Business Folders and 1000 Business cards
  • Top of the range business Laptop with Printer/Fax/Scanner/Copier
  • Taxco® customised taxation software – Individuals and trusts
  • Sage Pastel Partner software site licence
  • Installation and setup of Pastel, Tax software and Microsoft office for franchise
  • Pastel Partner - Taxco® standard company setup template
  • Taxco® manuals, working standards information kit, contract templates
  • Pre-designed forms, letters and templates including electronic letterhead
  • Exclusive @taxcotrust managed email address with web mail access
  • Fax to email number
  • Sales and product training 
  • Tax practitioner and SARS efiling registration assistance
  • Website exposure for the franchise - Free

TaxBox Associates (Non qualified accountants) receive the following:

You only pay for what you use or order:

  • Advice and assistance with the purchase computers/equipment and other software - Free
  • Customising of the TaxBox taxation software - Individuals and trusts
  • Assistance with purchasing a Sage Pastel Partner software site licence
  • Installation and setup of Microsoft office 
  • Sage Pastel Partner - A TaxBox standard company setup template
  • TaxBox manuals, working standards information kit, contract templates
  • Pre-designed forms, letters and templates including electronic letterhead
  • Exclusive @taxcotrust managed email address with web mail access
  • Fax to email number
  • Sales and product training
  • Tax practitioner and SARS efiling registration assistance
  • Website exposure for the association - Free

What is the initial deposit amount?

The is no initial deposit - Rnil.
An agreement is only signed to secure a specific area and to consumate the agreement.

What size area will I get?

The size area will be dependent on the location and estimated client numbers.The overriding rationale is that new franchisees and associates must not affect the profitability of existing franchisees/associates, whilst they themselves must be commercially viable.

How many people can I bring for training?

Our Training Centre in Bloemfontein can accommodate 12 persons at a time. The training cost is dependent on what training is required. See our TRAINING section to what courses are available. These will be offered at a discount rate to franchisees/associates. The travel, accomodation and meals for trainees are for their own account.

What other training can I receive?

Other training programs includes:

Taxco Office Manual - Processes and procedures (Personnel, Production, Administraton, Infrastructure, Quality control)
Tax software - Installation, setup and use
Sage Pastel Partner and Cloud Accounting - Installation, Setup of Taxco designed standard set of accounts, Processing procedures
Marketing - List of services, Suggested Pricing

Can I get Financing?

Yes, the prospective member can approach external commercial banks and financiers who specialise in franchise and small business financing to finance the cost and working capital requirements of the franchisee or associate. The decision to finance or not lies with the prospective member and we urge you to take make an informed decision after the necessary investigation and research. Taxco does not provide direct finance, but we can assist the prospective member with additional information to support his application for finance. Before you decide to finance your business refer to our Business Guide on Financing. Please contact us should you require any additional information in this regard.

At Bridgement Business Finance you can also see what  financing facility you qualify for by clicking on the following link: https://bit.ly/bridgement3CVC

What experience do I need to operate a Taxco or TaxBox Franchise?

TaxBox Associates - No formal tax or accounting qualification or training is required. Only a basic working knowledge of computers, email and spreadsheets programs is required. Individuals do not have to meet the required tax practitioner registration standards. Taxco® however, recommends that you have an accounting qualification or tax background or employ the necessary skills to operate the association effectively.

Taxco® Franchisee - Will have a formal qualification in accounting or tax and are practising members of the SAIT, ICB, SAIPA, ACCA or SAICA and wish to make use of the benefits of being part of a recognised and respected accounting and tax services brand.

How much money will I make?

The beauty of owning your own business is that you control your own success. As a Taxco or TaxBox franchise/association owner, you have many built-in advantages in today's marketplace, including a pent up demand for our unique service offerings. Our support systems and programs have proven to be successful in the past twenty years. However, the financial return you will realize as an owner depends on how well you perform and follow the systems provided to you. Your success will also depend on circumstances including local economics and costs, competition, and how aggressively you market yourself and your business.

We encourage you to speak with our other franchisees or associates to learn about their experience and satisfaction with the Taxco or TaxBox brand, including the financial performance of their own businesses. By speaking with franchisees, you will be able to better understand the potential of the business and what is necessary to be successful.

How long does it take to open a Taxco Franchise?

Once a franchise agreement is signed, you are good to go! You get the client and together we provide them with the best possible service and expertise.

Will I need employees? If so, how many?

Initially, an franchisee/associate will typically have maybe one to two part-time or full-time staff members to help with the operation of the practice, depending on time of year and volume of work. As the business grows, and as you build your customer base, more employees and staff will be necessary. A typically one owner member firm has two to four full-time staff members, including the franchisee.

How much cash will I need to cover running expenses?

The franchisee or associate will be responsible for his own working capital which may vary from area to area and includes marketing, rent, salaries, telephone and printing expenses. We suggest that the member compiles a budget, calculates a break-even point and provides sufficient financing for at least six months in this regard to ensure that personal and business costs are covered.

How does the Royalties/Fees work?

There is no Taxco's royalties! We charge you on a pre-quote basis for the work that we have to do or is required by the client. 

Fees are based on Taxco administration and service costs and can be once-off/monthly or annual. Tax invoices are issued and are pre-payable before the work commences. Client can also sign a monthly or Annual ACB's/debit order and we will collect your fees included the total debit free of charge. Payments to you are made on receipt.

What other Head office costs are charged?

There are no other costs, except for Training, if required. Generally the member will train his own employees.

When, where and how was Taxco established?

Taxco started trading operations on 1 February 1991 at 1 President Brandstreet in Bloemfontein. Initially there were only two associate partners (Pierre Goosen and Kobus Spies) who joined their efforts and resources to deliver accounting services to clients. Their simple strategy of delivering honest best of breed accounting and tax services timeously to clients that make business sense, still lives on today.

Do I need a specific type of office?

The Taxco member  decides from where he wishes to operate and grow his business and this may include: A shop-style office or kiosk in a business complex, a suite in an office block, an office at home or other premises as he may choose. It is in the discretion of the member to equip and brand his office. Our recommendation is that the associates secures a accessible place where the clients can comfortably visit and consult and the Taxco or TaxBox brand name is visibly displayed, although this is not a pre-requisite. Electronic Branding templates are provided.

Securing suitable premises would normally entail the signing of a lease agreement with a landlord and although we may give advice in this regard, it is the sole responsibility of the member to ensure that he is aware of all the legal and financial implications thereof.

What about other services I already offer?

Yes, you may continue, but you would require head office approval. Refer to the Taxco Product Partner section of our website. We are always on the lookout for new services and products. Once approved, we could offer that particular service nationaly via the Taxco member firms, if you so wish.

What head office support will I receive?

Taxco head office assists members with telephonic and email queries. Peace of mind is offered when starting your own business as the Taxco® Franchisee and TaxBox associate is further backed up by Professional Accountants (SA) who are knowledgeable about our industry and international best practices to help you take full business advantage of the best and most suitable tax, accounting and business solutions on offer today.We provide you with the necessary information to assist you to service the client. Services you may not be qualified for can be performed on your behalf on a agreed fees basis.

What is Taxco's long term vision?

We continually research new business opportunities and add these to our accounting, tax and financial service offering which translates directly into increased revenue for the Franchisee, which may not have been possible for the smaller firm. The value of owning the Taxco® or TaxBox brand in a certain area will most definitely increase as the brand and services offering grows throughout South Africa and becomes the household brand for the accounting and tax service company of choice.

 

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