Rina Mancini is the Master Franchisee for TaxAssist Accountants GTA. Through progressive management positions, Rina has held strategic leadership roles within the Financial Services, Telecommunications, and Information Solutions industries. More specifically, Rina’s responsibilities have been in accounts receivable management, restructuring, business process outsourcing, call centre operations, training and mentoring, executive search, and consulting to new industry entrants. More recently and before acquiring the Master Franchise rights for TaxAssist Accountants in the GTA, Rina was self-employed, providing consulting services to clients within the financial services sector.
BeTheBoss.ca: Tell us about the TaxAssist Accountants Franchise concept.
Rina Mancini: TaxAssist Accountants was founded to service the small business market, as this is a lucrative and growing sector of the economy that is usually under-serviced by the traditional accounting practices. Small business owners will benefit from the professional, friendly and unintimidating services provided by TaxAssist Accountants. We will provide bookkeeping, accounting and tax preparation services to this small business sector through a network of highly visible and professionally appointed storefront locations.
BTB: How and when did you become involved with TaxAssist Accountants Franchise Opportunity?
RM: I first learned about TaxAssist Accountants franchise in the spring of 2013. Through a number of discussions, meeting and other interactions with TaxAssist Accountants in the U.K. (the Franchisor) I continued to research and learn more about the business model and the opportunity. I really understood the fact that small business owners are sometimes overlooked by traditional accounting firms. Being a small business owner myself, I can appreciate how this feels. And after visiting a number of TaxAssist Accountants storefront franchise offices in the U.K. network, I was impressed by the professional locations and the friendly staff. In January, 2014, I acquired the Master Franchise rights for TaxAssist in the GTA, and in June 2014 I began the process to start awarding franchises in the GTA territory.
BTB: What was your background prior to joining TaxAssist Accountants?
RM: I have a Bachelor of Administrative Studies from York University and an MBA from the University of Toronto. Prior to joining TaxAssist Accountants I held a number of senior level strategic leadership roles primarily in the financial services sector. Additionally, and more recently, I provide consulting services to clients in the financial services and related sectors. Having always felt that I wanted to be in business for myself, I feel that TaxAssist provides the opportunity that I’ve been looking for for some time now.
BTB: What are some of the advantages in being a TaxAssist Accountants franchise business owner (franchisee)?
RM: Owning a TaxAssist franchise will provide you with the opportunity to grow a successful franchise business without feeling as if you’re doing it alone. You’ll be provided with six weeks of initial and ongoing training to ensure you are growing and keeping up with the latest trends in accounting and tax. You’ll be provided with support for you and your practice, including the Marketing and Business Development support that is essential for any business to prosper. Additionally, you’ll be provided with other support for your business endeavours including, among other things, an exclusive marketing territory, operations manuals, Lead generation services, personalized and company websites, technical support, membership in a networking group, etc.
BTB: Who is your ideal franchise business owner (franchisee)?
RM: The idea franchisee is entrepreneurial, and wants to promote and grow their business into a saleable asset. Our franchisees can be qualified accountants, or not, as long as they always employ at least one full-time staff member who does have an accounting designation. An ideal franchisee will have solid business skills, be marketing savvy, be a people-person, a good leader and communicator and understand the concept of franchising with respect to how one can be successful working within a franchise model.
BTB: Tell us a little about the Small Business Market?
RM: According to Statistics Canada (2012):
- There are 1.08 million small businesses in Canada
- 98% of businesses in Canada have 1 to 99 employees
- The net increase in the number of small businesses was almost 22,000 over the 2008 – 2009 period.
- Small businesses employed over 7.7 million individuals in Canada, or 69.7% of the total private labour force.
- Small businesses created over 100,000 jobs on average between 2002 and 2012, accounting for almost 78% of all private jobs created on average.
BTB: Do you have a mentor and is there someone you use for inspiration?
RM: I have a number of mentors but generally speaking I admire and respect people who have become successful in life, and are modest at the same time.
BTB: What advice do you have for someone looking to acquire a Franchise opportunity?
RM: Research, research, research. Research the franchising model, the franchising industry and research the franchise business you’re interested in. Make sure you talk to as many existing franchisees as possible, including franchisees who have left a particular franchise system. Ensure you understand the franchising concept. Remember, you are in business for yourself but you’re also committing to working within a certain model. Make sure both franchising and the particular business model you’re interested in are a good fit for you and vice-versa. Listen to your gut and make sure it’s telling you that this is the right business opportunity for you.
BTB: In your opinion, why do you think that TaxAssist Accountants would be a great franchise opportunity for someone?
RM: The TaxAssist franchise opportunity is based on a proven and successful U.K. model which is now being replicated here in Canada. It’s an opportunity for someone to stretch and challenge themselves to work on and grow a business which may become a very saleable asset in future. In the process, they’ll receive a lot of support and have a lot of fun working within a network of other like-minded franchisees.