Successful transfer of ownership at TaxAssist Lincoln

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09 August 2022

Successful transfer of ownership at TaxAssist Lincoln

TaxAssist franchisee Paul Simpson has purchased Terry Peachman’s Lincoln franchise.

After 20 successful years as a TaxAssist Accountant, Terry Peachman has sold his franchise to fellow franchisee Paul Simpson.

“This is the end of an era, but I’m so pleased to have sold the practice to Paul Simpson and his wife Denise,” said Terry.

“The TaxAssist Accountants brand continues, and the great team of staff I built up will still be there looking after all the wonderful clients. As for me, a period of retirement and reflection before I decide what to do next!

“The franchise has met my expectations in all respects. I’ve had support and encouragement which has enabled me to build a business in a way that the Support Centre predicted. It’s provided an income and exit that I’d hoped to achieve and I remain very proud to have been part of the TaxAssist network. Throughout all my dealings with TaxAssist, I’ve always been impressed by their complete honesty and never once have I doubted what’s been said. They have always delivered on their promises.”

Paul Simpson started his journey with TaxAssist in 2021 and always had the intention of expanding rapidly both by organic growth and by acquisition.

“Having spent 12 months growing my initial Market Harborough franchise, onboarding over 200 clients and employing both a Client Manager and a Client Administrator while getting used to the systems and procedures, it was time to take the business to the next level,” said Paul.

“When I heard that Terry was considering retiring, we arranged to meet and immediately knew that we could work with each other in a smooth transition of the business. It is a business model that I know well and is based in the East Midlands like my existing franchise.

“Terry has grown a successful business over the last 20 years that is well respected in the area. I am looking forward to working with the team in Lincoln to grow the business and becoming even more involved in the local community and welcoming more clients to the TaxAssist proposition to allow them to take the pain out of their bookkeeping and realise the business of their dreams.

“I have inherited a loyal and experienced team and will be growing the staff numbers to cope with the additional clients and the introduction of TaxAssist Financial Services. I am also pleased that my wife, Denise, is now also a franchisee in her own right. She has been a key reason why my first franchise has been so successful, thanks to her role organising the HR and Health & Safety aspects of the business so that I could concentrate on the clients and the team. She has also acted as a brilliant sounding board for all our plans.”

If you are keen to build your own practice, or to convert your existing practice to TaxAssist Accountants, we can provide the systems and support you need to be successful. Regular Discovery Days are being held, where you can find out more about the technical, marketing and business development support on offer.

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