itp Accounting Professionals Franchise Business for Sale in Coffs Harbour, NSW 2450

The Opportunity

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Company overview and history

  • Founded in July 1971 in Sydney with five employees
  • Started franchising in the 1970s
  • Employs over 500 and operates over 240 offices
  • Awarded #1 Brand for Accounting and Tax by Reader's Digest
  • Rated 5-stars by CANSTAR for value, quality, service, and satisfaction
  • Serves over 200,000 clients annually
  • Official sponsor of the Australian Olympics team
  • Invests in technology and streamlined processes

Product/service offerings

  • Preparation and lodging of individual, sole trader, trust, partnership, and company tax returns
  • Setting up and maintaining companies, including registrations, BAS, GST, and PAYG obligations
  • Financial management, compliance, and reporting, including ASIC compliance and licenses
  • Using the latest accounting cloud software for bookkeeping
  • Strategies to maximise tax returns, reduce tax liability, and manage capital gains tax
  • Assistance with business performance reporting, cost-cutting strategies, and financial growth advice
  • Help with purchasing capital, depreciating equipment and assets, and employing tax-efficient tactics
  • Expert advice on investment properties, rental properties, and share schemes
  • Year-round support from local consultants for informed financial decisions
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Do you have what it takes to be a top-performer at this franchise?
Our 5min assessment will rank you on the key attributes of Culture, Values, Work Style, Skills and Stages of Growth.

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Target market and industry trends

  • Individuals and businesses needing tax return preparation and accounting services, including sole traders, trusts, partnerships, and companies
  • Broad client base, having helped over 300,000 Australians
  • Digital transformation and automation in accounting, integrating technologies and AI
  • Growing demand for strategic advisory services beyond traditional offerings
  • Need for compliance with stringent regulations and new standards
  • Concentration in high population and economic activity areas, especially on the eastern coast
  • Projected market size of $33.4 billion in 2025 with continued growth
  • Supportive network with ongoing training, marketing materials, and access to experienced tax professionals

Ongoing fees (royalties, marketing fees)

  • Royalty Fees: Ongoing payments to the franchisor, typically a percentage of gross sales.
  • Other Ongoing Costs: Include use of trademarks, ongoing training, and marketing assistance.
  • Quarterly/Monthly BAS Preparation & Lodgement: $275.00
  • Annual BAS Preparation & Lodgement: $330.00
  • General Taxation Advice (30 mins): $155.00.

Training and support provided to franchisees

  • Comprehensive initial training
  • Access to ongoing training and support
  • Network of experienced tax professionals
  • Marketing and promotional materials
  • Professional development similar to industry standards
  • Regularly updated courses and training programs
  • Year-round support from local consultants

Day in the life

  • Preparing and lodging tax returns for individuals, sole traders, trusts, partnerships, and companies
  • Assisting clients with company setup and maintenance, including registrations and obligations
  • Checking emails and workflow management system for assigned tasks
  • Reviewing client files and organizing work papers
  • Ensuring compliance with ATO regulations and handling notices
  • Managing financial and operational aspects of the business
  • Participating in ongoing training and professional development
  • Engaging in marketing activities to attract and retain clients
  • Managing a team of tax professionals and support staff
  • Providing excellent customer service and addressing client queries

Staffing requirements

  • Tax Professionals and Accountants: Qualified tax professionals, including accountants and bookkeepers, are needed for tax return preparation and accounting services.
  • Qualifications: Relevant degrees in finance, accounting, or related fields; experience in public accounting preferred.
  • Certifications: CPA (Certified Public Accountant) can be advantageous.
  • Training: Ongoing training and support provided by ITP for franchisees and their staff.
  • Staffing Levels: Varies by franchise size and location; larger offices may require more employees.
  • Responsibilities: Preparing tax returns, managing payroll, handling BAS and GST obligations, ensuring ATO compliance, and managing client relationships.

Location requirements and territory information

  • ITP Accounting franchises may have exclusive or non-exclusive territories.
  • Franchisees may be sold a franchise for a specific location or one to be approved by the franchisor.
  • The franchisor must disclose the methodology for defining territory size and boundaries.
  • In non-exclusive territories, franchisees may face competition from other franchisees or company-owned outlets.
  • Restrictions on soliciting or accepting orders within or outside the territory must be disclosed.
  • The franchise agreement may include conditions for relocating or establishing additional outlets.

Financing options available

For detailed information about financing options, we recommend reaching out to ITP Accounting using the "Send Enquiry" function on Hattch.

Franchisee qualifications and experience required

  • Strong understanding of business and financial management
  • Experience in the financial or accounting sector preferred
  • Ongoing training and support provided
  • Passionate about helping others with finances
  • Strong customer service skills
  • Commitment to quality and customer satisfaction

Unique selling propositions and competitive advantages

  • Trusted brand with over 50 years in the tax business, helping over 300,000 Australians
  • Proven business model offering low-risk, high-reward opportunities
  • Extensive support network with ongoing training and resources
  • National brand recognition with effective marketing campaigns
  • Comprehensive service offerings including various tax and accounting services
  • Awards for #1 Brand for Accounting and Tax by Reader's Digest
  • Rated 5-stars by CANSTAR for value, quality, service, and satisfaction
  • Large client base with over 200,000 clients annually
  • More than 240 offices across Australia

Testimonials or success stories from current franchisees

  • One former employee described their experience as "pleasurable" and mentioned they "thoroughly enjoyed" their time at ITP.
  • A consultant praised the "excellent culture; good people; easy going relationships and extremely well run" environment.
  • A practice manager noted they "really enjoyed working in ITP for more than 6 years".
  • Several reviews highlight the "very good training" and ongoing support provided by ITP.
  • Franchisees benefit from a supportive network, including access to ongoing training and marketing materials.
  • Some employees noted that the job can be stressful, especially during tax season.
  • A former tax consultant mentioned that the work is seasonal, which can limit job security.
  • Many reviews indicate a high level of job satisfaction, with employees appreciating the opportunity to help people with their finances.
  • Franchisees are part of a trusted brand with a proven business model.

Application process and next steps for interested parties

  1. Reach out to ITP Accounting using the "Send Enquiry" function on Hattch.
  2. Application submission: Submit a formal application including:
      • Personal and professional background information
      • Business plan
      • Financial statements
      • Resume
      • Authorization for a credit check
      • References
  3. Evaluation and approval: Franchisor reviews application, assessing financial stability and experience.
  4. Franchise agreement: If approved, receive and review the franchise agreement.
  5. Additional steps: Sign Franchise Disclosure Document acknowledgment and pay any application fee.

Other nearby franchises

Franchise Overview

Number of Franchises: 42

Number of Franchise Locations: 168

Number of Corporate Locations: 22

Franchise Partner Type: Owner Operator

Opportunity Type: Franchise Resale

Year Established: 1971

Investment Range: $50K - $100K

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