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Bookkeeping business Shoebox Books launches Shoebox Tax

Sarah Stowe

Bookkeeping chain Shoebox Books has released a brand new franchise business model, Shoebox Tax.

The new franchise has been in planning for two years, and with the changes of 2020 including legislation changes, tax issues and Covid, the project was fast forwarded for an early launch.

Shoebox Tax was unveiled to the existing network first, and six franchisees have already spotted the income potential and signed up to the new business.

The first Shoebox Tax franchisees will open their doors in January and February.

Now the franchisors are ready to spread the word, and start the process of signing up new franchisees in 2021.

Shoebox co-founder and national franchise recruitment director Yvette Coad told Inside Franchise Business “We offered it first to the network to see the response. We anticipate over the next 12 months to bring on 20 to 25 franchisees. It’s about the quality, not the number.

“We’re all over Australia, except Northern Territory, and we’ve had a lot of enquiries so far. Growth should double,” she said.

A brand new franchisee can expect to pay $59,990+GST for a Shoebox Tax business; for existing franchisees the cost is an additional $36,000 + GST.

National marketing manager Harry Beech said the new addition adds another layer in the franchise. 

“We will still have the same training, though increased to two weeks instead of one, and franchisees will be supervised for a two year period, depending on qualifications.”

Shoebox is a preferred supplier for bookkeeping services for fellow franchise brands including Hire A Hubby and DiggerMate, and has conducted bookkeeping webinars for BaskinRobbins and GJ Gardiner.

This year has seen a rise in demand for expert bookkeeping and tax advice, and Shoebox franchisees recorded nearly 8m Jobkeeper payments for their clients this year.

Overall 2020 has delivered a rise of 15 per cent in franchisee turnover, and an increase in potential franchisees’ interest in the business.