The Grass & Holm franchisee network is growing. Earlier in 2020, we happily welcomed Michelle Brownsmith to the Grass & Holm family as our latest franchisee.
Setting up your own accountancy practice can seem very daunting so we checked in with Michelle to see why she chose to join Grass & Holm Associates and what her experiences have been as she has transitioned into running her Grass & Holm franchisee business full-time.
Grass & Holm: Can you tell us what you were doing before you joined Grass & Holm Associates? What has been your professional experience to date?
Michelle – I was a Financial Accountant at the Vale of Aylesbury Housing Association from March 2016 until August 2020. Prior to that, for three years, I was a Group Reporting Accountant at Lumesse which is an international IT company that provides HR and talent management solutions. And my first industry job was at InHealth as a Financial Accountant from 2007 to 2013, after five years of training to become ACA qualified with accountancy practices.
Grass & Holm: How did you learn about Grass & Holm Associates and the franchisee model?
Michelle – I have known Fiona (Franchisor of Grass & Holm Associates) since 2001 when Shaun my husband started training at an accountancy practice where Fiona was a manager.
Grass & Holm: What appeals about become a franchisee rather than setting up on your own?
Michelle – I have always liked working as part of a team and the thought of working for myself was very daunting. There are a lot of legal areas you must consider as a sole practitioner and I believe this is a brilliant compromise. Not only are you still your own boss, the business is yours, but you also have a team feel as you have the support of both Fiona and other Franchisees.
Grass & Holm: What have you been looking forward to as you become a franchisee and run your own business?
Michelle – I am looking forward to all the new challenges it presents.
Grass & Holm: What drove you to make the move?
Michelle – I wanted a better work/life balance. I have 2 small children now aged 5 and 9. One has been diagnosed with dyslexia and I wanted to be able to help her in any way I can. Also we don’t plan on having any more and this time is very precious. Up until now they have always been in childcare from 7.30am till 5.30pm.
Grass & Holm: Do you have any concerns or worries?
Michelle – Like anyone money is a concern. The thought of not having a regular income that is guaranteed is very daunting. Also, unless you are a very confident person, an element of Imposter Syndrome can creep in as you can doubt yourself as your clients will be solely reliant on you, as their accountant, to give them the advice and support to help them progress and build their business.
Grass & Holm: What does success look like for you in 12 months’ time?
Michelle – To have sufficient clients to cover my overheads and build my confidence. I have been doing this part time since February and full time since September and I am enjoying ‘going out’ (in a socially distanced/Covid-compliant way) and meeting new people. I have met some lovely contacts through networking.
Grass & Holm: How has your life changed?
Michelle – The children now see me the majority of the week after school. I take the children to school every day. I am learning to be more self-confident and believe in myself and I do not feel guilty if I go out for a coffee during the day and I am not stuck in front of my computer.
Grass & Holm: Can you sum up in three words how you now feel?
Michelle – Excited, Nervous, and Surprised (at how much I am enjoying it).
Grass & Holm: Did you have an ‘oh my goodness, what have I done’ moment that sticks in your mind?
Michelle – I am still having those moments as I try and get my new systems in place and learn all the new software that people use.
Grass & Holm: Did you have a ‘phew, it’s not that bad’ moment that sticks in your mind?
Michelle – My largest client at first would call me on a daily basis and I was always worried that I had missed something or he was calling because he had found an issue but actually most of the time it was to chat and just tell me how things were going.
I also now have the self-belief to realise that it is okay if you don’t instantly know the answer to a client’s query.
Grass & Holm: What advice would you give anyone who is considering becoming a franchisee with Grass & Holm?
Michelle – The first year will be hard, especially if you are working at the same time. A work/life balance might feel a little elusive at the beginning. It does help to commit to it full-time, if you can, as I underestimated how much time it would take up when I tried to do it part-time. There came a tipping point for me when I had to commit full-time. When I did, it helped enormously.
But, remember that the people you will meet through networking and the clients that you will service will be the people that will be eternally grateful. Most of my clients are small owner managed business and they ‘don’t do accounts’. To see their business succeed and come through this year, a year that has probably been one of the most challenging in all our lifetimes, gives you that warm fuzzy feeling that no employer will be able to give you.
I would also challenge anyone who is put off by the thought of buying into a franchise. The Grass & Holm Associates business model means that Fiona doesn’t take a percentage of my fees. Instead she charges a flat fee. In my mind, it is as if I’m renting the name and the brand, with the addition of the amazing support Fiona gives me.
Are you considering becoming a franchisee?
Download your free copy of our guide now. It covers everything you need to know about what it takes to set up a business on your own, and what you can expect from the Grass and Holm Associates Franchise model.