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Bracey’s Accountants Franchise FAQs.

If you can’t find the answer you’re looking for, please call us on 01462 413249

Do industry exhibitions generate leads?

Hard work but worth it! A typical exhibition will cost you around £5,000, (stand fees, printing, staff etc) but they can generate in excess of 100 very promising leads. Currently, we have a conversion rate of 29 per cent and a good average lead value.

How do client referrals work?

Currently, client referrals account for just over 10 per cent of incoming leads & have the highest conversion rate of all leads at 59 per cent. Each lead has a fairly good average value making these clients the easiest to convert – you’ll have to ensure you keep your current clients happy to generate referrals.

Will networking generate leads?

Just over 10 per cent of our leads come from networking and the current conversion rate is about 25 per cent. With a relatively high average value, these leads can be very profitable. It is far more efficient to engage one new client worth £2000 rather than engaging two new clients worth £1000 each. Generating networking leads is almost fully down to you as a franchisee, we include guidelines in our Training Program on where to attend and what approach to take. You’ll need to focus on relationship building and look to join various local business groups and talk to people in your community.

Will I receive leads through the website?

A third of all our potential leads come through our website which is linked to our lead tracking software. The conversion rate on these leads is 31 per cent and their average value is quite low but for our franchisees, there is little work involved in generating these leads.

How do I build my client base, do you provide leads?

Our business has grown through leads coming from various sources including our website, client referrals, networking, social media and exhibitions. We don’t charge you for leads which come into us via any source and are then passed onto you, but we do expect you to be actively involved in your own lead generation. We track and analyse all lead data monthly in order to help shape the Bracey’s marketing and business strategy.

Do I need to achieve set turnover levels and what if I don’t achieve them?

We want the business to succeed so we work with you on an achievable business plan before you sign your franchise agreement. The business plan sets out what you and we think can be achieved in the five years you will be operating. There are no penalties applied if you don’t achieve the targets set out. As with any business plan, we adjust strategy as necessary at our twice-yearly Business Improvement Reviews.

What if I need time away from the business (maternity, illness, other)?

If you find that during your agreement term you are struggling to maintain service levels to your clients, we will do everything we can to help support your practice.

By being part of the Bracey’s family, when you need help, our team are here to provide it, so you don’t have to worry about losing clients or not fulfilling your obligations during a difficult time.

If you find you are struggling for longer periods, we can look at other options, for example, buying the business or finding a replacement franchisee.

What if I don’t want to accept a client?

There may be situations where you may not want to engage with a client, either you can’t deliver the service they require, or you may be too close to the client to remain independent.

We are happy to take on clients you refer to us if we feel appropriate, you are under no obligation to engage every client.

Will I be trained and how long will it take?

Our franchisees come to us with a variety of different skills and expertise, so we tailor our training for each individual franchisee.

All training will include systems and procedures, software and marketing and programs usually last between two and six weeks and are a mix of practical and theory.

Would I be able to expand my territory?

We are happy to talk to any successful franchisee who wants to take on a second territory (or extend their existing territory if available) and can discuss the appropriate fees for this when it happens. We prefer that franchisees have a minimum of a year operating in their first territory before we negotiate taking a wider or second area.

What if something goes wrong or I want to sell the business?

The important thing to remember is that we work together. If at any time you are concerned about the business or the support you’re receiving, our door is always open.

We, as franchisor, are only successful if our franchisees are successful, which means it is crucial for us to ensure you and your business succeed.

If you find that the situation is untenable, you can of course talk to us about selling the business, we have first right of refusal and we need to approve any purchaser you find if we don’t purchase the business from you.

How long is the agreement for?

The Bracey’s franchise agreement has a five-year term. We would expect you to have made a return on your initial investment by the end of year two allowing a further three years to increase your earnings.

At the end of the agreement you will have the option to renew, currently 100 per cent of our franchisees have chosen to do this.

All we ask at the renewal point is that you are compliant with all of our operating procedures, your offices are decorated to current standards, you have no breach or performance issues outstanding and that you pay an administration fee of £500 to cover the costs of renewing your agreement.

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