Info for accountants re the abacus network
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Presentation for accountants considering joining the abacus network

Presentation for accountants considering joining the abacus network

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    Info for accountants re the abacus network Info for accountants re the abacus network Presentation Transcript

    • abacus the accountancy network you can count on
    • abacus Structure abacus ifa abacus Payroll Bureau abacus Call Centre abacus Wealth Management abacus Franchising Company abacus
    • Meet the abacus team
    • Meet the abacus team
      • Steve Jackson – Managing Director abacus Franchise
      • Neil Richmond – Managing Director abacus ifa & Payroll
      • Ian White – Managing Director abacus Wealth Man
      • Paul Hughes – Manager abacus Call Centre - North
      • Jo Rhodes-Lewis – Manager abacus Call Centre - South
      • Kay Phillips – Office Manager
      • Paul Herring – IT Manager
    • Steve Jackson
      • Fellow of Chartered Institute of Management Accountants.
      • Early career worked for a number of blue chip companies including Phillips Petroleum, Winthrop laboratories & Rolls Royce Power Engineering Group.
      • In 1993 formed Bals Electrical Engineering. By 2001 Turnover was £18.5M with a PBIT of £1.5M. In October 2001 sold business to GE.
      • Formed accountancy practice in 2002 and launched the Pilot scheme as the forerunner to abacus.
    • The abacus Concept
      • In all SMEs Cash is King.
      • Senior Managers in SMEs wear several hats.
      • Not usually qualified in the additional roles therefore key admin functions are run inefficiently.
      • Insufficient time is spent on their key discipline.
      • Lack of support for SMEs from existing professional Bodies.
      • We provide SMEs with a first class, complete and effective commercial package. Allowing the management team to focus on the development and growth of their business, giving them the competitive edge.
    • abacus Pilot Scheme
      • The first half of 2002 sourced specialist consultants in all admin function. Designed website and brochure.
      • Pilot scheme launched second half of 2002.
      • The focus was on the SME market in the North East with the intention to launch a national franchise.
      • SME market equals Businesses with 1 – 75 employees.
      • The concept has been embraced by the SME market and we have a successful multi-disciplined practice.
    • abacus Pilot Scheme
      • Cross section of clients.
      • Fees ranged from £500 - £6,000.
      • Generated high level of introducers commission.
      • Total number of clients 40. (Stopped taking on additional clients at this point to focus on establishing abacus .)
      • Based on success incorporated abacus Group of Companies.
      • Extended alliance partners covering a wide range of services.
    • Some of abacus Alliance Partners
      • Nat West Bank Barclays Bank Ward Hadaway
      • Lombard TSG Beer & Partners
      • UNW Prism Adec Solutions
      • NBJ Insurance Franchise Co. Inon
      • Bibby Factors ERA Bachman Group
      • Premier Protection Irun CCH
      • P & A Partnership CDI Cap 2
      • Wilby Insurance Kashflow Matrix
      • Worth Comms Telecoms Invoice Finance solutions
      • Whitehill Publishing C3 Partnership Sage
    • abacus Services
      • Accountancy Services
        • Compliance
        • Added Value
      • Business Services
        • Financial Support
        • Business Support
        • IT Support
      • Financial Services
        • Corporate Financial Planning
        • Personal Financial Planning
        • General Insurance
    • abacus Call Centre
      • As well as the 2 managers each call centre has a supervisor with over 10 years experience.
      • All call centre operators are experienced in outbound call centre operations.
      • We also carry out in-house training with all our operators.
      • Both call centres are target driven whereby operators are only paid bonuses on verified appointments.
      • All appointments have at least 2 confirmations prior to issue to the franchisee.
      • When generating the appointments the operators promote the franchisee as an accountant and do not talk about the additional services.
    • abacus Call Centre
      • All data for the appointments are updated by Yell Experian.
      • All calls are recorded in the South office and we are reviewing call recording systems for the North.
      • All telephone calls TPS/FPS.
      • Computerised diary system for all franchisees. It is the franchisees responsibility to ensure their diary is kept up-to-date.
    • Appointment Ratio Breakdown based on figures provided by existing Franchisees. Band Turnover No. of No. of Average Total Range (£K) Appts Clients Fee £ Fee £ A £750+ 10 4 B £250 – £750 18 8 C £100 – £250 53 23 D £60 – £100 19 8 Total 43 £1,250 £53,750 Figures are for illustration purposes only and cannot be guaranteed.
    • abacus Franchise
      • Overview Mapping divided UK into approximately 196 territories www.territorymapping.co.uk – User name: abacus ; Password: st3v3.
      • Each territory has approximately 10,000 SMEs in it.
      • For the purposes of our model, an SME is a business with 1 to 75 employees with turnover up to the audit threshold.
      • The SME market includes both incorporated and unincorporated businesses.
      • The data is updated by Yell Experian and is the basis for the generation of 100 confirmed appointments in bands A – D.
    • What do abacus Franchisees receive?
      • An exclusive territory.
      • An off the shelf limited company.
      • Consumer Credit registration.
      • Data Protection registration.
      • Professional Indemnity Insurance.
      • Employers Liability Insurance.
      • VAT registration.
      • Nat West bank business account.
      • Practice stationery – business cards, letterheads, continuation sheets, 4 types of envelopes & accounts front and back covers.
      • Binding machine and metal spines.
    • What do abacus Franchisees receive?
      • 50 copies of the company brochure.
      • Installation of a business telephone line and allocation of one of our 0844 telephone numbers (However the franchisee must supply their own telephone and pay the monthly line rental and call charges)
      • Manuals covering Marketing, Accountancy, Taxation, HR Procedures and a Practice manual.
      • CD with draft letters, forms, adverts, contracts & agreements & tax tables.
      • abacus email account i.e. jim.smith@ abacus network.co.uk.
      • Dedicated Tax helpline & VAT helpline.
    • What do abacus Franchisees receive?
      • Access to the abacus Intranet.
      • Sage Line 50 software – 50 company licence.
      • CCH Single User Starter Package for 150 Clients.
        • Central Client Database
        • Work in Progress and Timesheets
        • Job Tracking, Call, Notes & Diary
        • Personal Tax returns
        • Corporation Tax Returns
        • Final Accounts Preparation
      • One week in House Induction Course.
      • Head office support.
    • What do abacus Franchisees receive?
      • Access to specialist in all other admin functions.
      • Online quotation system specifically designed for abacus.
      • Personal abacus web site.
      • CRM System attached to web site.
      • Incorporation software which compares the tax position of a sole trader or partnership to a limited company.
      • Membership to KashFlow Accountants Program.
      • Twitter account and access to the Group facebook account and Group blog.
    • Most Importantly From the data…
      • 100 Confirmed and Verified Appointments
      • From bands A – D in the first year
    • Who can purchase an abacus Franchise?
      • Only qualified accountants.
      • SMEs demand professionalism, service of the highest quality and most importantly value for money.
      • This can only be achieved by recruiting into the franchise qualified accountants and not by sending individuals on a five week training course and then promoting them as accountants.
    • How much does the abacus Franchise cost?
      • Each Territory costs £26,000.
      • Management fees are Fixed Fees as follows: -
        • £2,500 Twelve Months from 1 st Appointment.
        • Year 2 - £5,000 paid by 12 monthly instalments of £416.67.
        • Year 3 - £6,000 paid by 12 monthly instalments of £500.00.
        • Year 4 - £7,000 paid by 12 monthly instalments of £583.33.
        • Year 5 - £8,000 paid by 12 monthly instalments of £666.67.
      • Each year starting on the anniversary of the agreement the franchisee pays an advertising levy of £400.
    • No Hidden Costs
      • There are NO HIDDEN COSTS in our agreement.
      • The costs listed on the previous slide are THE ONLY COSTS payable to abacus.
      • From year 2 onwards it is the franchisees responsibility to pay for and maintain the items listed on the next slide.
    • Franchisee Year 2 onwards costs £3,224 pa Total Cost £210 pa CRM System Licence £300 pa Quotation System Licence £120 pa Employers Liability Insurance £430 pa Professional Indemnity Insurance £299 pa KashFlow Accountants Program Membership £1,380 pa CCH Software Licence £450 pa Sage Line 50 Software Licence £35 pa Data Protection Registration
    • Key points from the abacus Franchise agreement
      • The franchise is for a period of 5 years.
      • The start date of the agreement is the date of the first appointment – Not the date you sign the agreement .
      • The renewal fee after year 5 is £1,000.
      • Each franchise must have 1 qualified accountant working for the business (Initially this is you).
    • Key points from the abacus Franchise Agreement
      • The Franchisee does not have to have an office day 1 the business can be run from your home.
      • We will pay the Franchisee all their commissions received up to 25 th of the month on the last working day of the month
    • Why choose abacus ?
      • Dedicated Contact Centre and Marketing Support.
      • abacus Franchise is the only accounting franchise approved by the BFA that is only for qualified accountants.
      • Comprehensive support for all franchisees in practice management, taxation and VAT.
      • One stop fulfilment of all financial and administrative requirements for you and your clients.
    • Who to contact at abacus
      • For more information contact Steve Jackson at abacus Franchise Company Limited via the contact details below: -
      • Head Office Tel 0844 050 2254
      • Fax 0844 050 2255
      • Email steve.jackson@ abacus network.co.uk
      • Mobile 07764 617004