accounting. payroll. tax.
The vision and mission statement of TSF is to be the preferred provider of professional accounting, payroll and taxation services to the business and the public in a personalised manner which:
The TSF was the first publicised franchised accounting and tax services firm in South Africa. The franchisor company was incorporated in 2007 and growth of franchise license sales was rapid. Operations are currently conducted from Head Offices in Pretoria and Tzaneen as well as from our more than 70 outlets nationwide. We also have footprints in Namibia and Dubai. Franchisees are well educated, knowledgeable, experienced individuals having gained exposure in all sectors of business. TSF franchisees, together with specialists at Head office, are well placed to service the needs of individuals and small and medium-sized entities.
The following table provides a historical timeline of the Tax Shop’s progression over the years since inception.
History |
|
| • 2007 | Foundation year |
| • 2007 - date | National footprint (100+ franchises sold) |
| • 2007 - 2010 | Expanded footprint and services offering (Payroll, BEE, Accounting, Insurance and much more.) Cloud Payroll System. |
| • 2012 | Entry of new shareholders and directors and refocus of the business service on core areas of Accounting; Tax; Payroll. Introduction of stricter criteria for approval of new franchise licenses. |
| • 2013 | Strategic Sessions and turn-around strategy developed - New direction Introduction of cloud Accounting Software. |
| • 2014 | 1st Annual Conference New website launched Implementation of Strategic Plan Opening of Head Office Pretoria |
| • 2015 | Continuing strong support to franchisees & introduce compulsory in-house training. |
| • 2016 | Strategic iniciatives to increase brand awareness, more effective marketing and improved operations. |
Over the past 3 years the directors (franchisor) have collectively reviewed how the business fundamentally operates. Among other things, they looked at the organisation in terms of business performance and in terms of culture because they know that only a business driven by strong values can deliver strong, sustainable returns. Some of the significant events which have contributed to this fundamental review include the following:
To cement the cultural change, a formal Code of Conduct and Values was developed and published. The TSF Code of Conduct and Values is aligned to the Code of Professional Conduct published by the South African Institute of Chartered Accountants that is consistent in all material aspects with the International Federation of Accountants' (IFAC) code. The Code of Professional Conduct sets out the ethical and professional attitudes and behaviours expected of accountants. The TSF prides itself on being ethical in the way it conducts its business and adhere to a value system with trust, truth, honesty and mutual respect as pillars.
The TSF is still a very young franchise, when compared with similar operations established 40 years ago globally and growth potential remains good.
Elaine obtained qualifications from various academic institutions and currently studies towards the International MBA at the Business School Netherlands. She qualified as a Chartered Accountant (SA) in 1988 and is a member of the South African Institute of Chartered Accountants. After completion of her articles with KPMG, she lectured in the fields of accounting and auditing at various universities. Thereafter, she occupied high profile positions in the banking sector, including appointments as Group Chief Accountant at Standard Bank, General manager in the enterprise risk management, treasury and finance divisions at ABSA and Chief Financial Officer at ABN Amro Bank South Africa. She served on various executive committees, including audit and risk committees and as representative of the Middle-East and Africa region on the Steering Committee Information and Operations for ABN Amro Bank. Since 2008 she has provided business consulting services to various financial institutions in South Africa and acted as a specialist advisor in the nuclear energy sector.
After having qualified and practiced as a Commercial lawyer Bennie worked in the Banking and Financial services industry for 25 years across multiple market segments in South Africa, Sub-Saharan Africa and the UK, the last 14 years of which in senior and executive leadership positions. During this time, he dealt extensively with cross-border banking and finance including project finance, asset finance, debt capital markets and derivatives, including the legal aspects thereof. In recent years, Bennie has played an active leading role in investment, credit and risk management as well as sound corporate governance.
Bernard studied BCom majoring in information systems and accounting at the University of Cape Town and qualified as a Chartered Accountant (SA) in 1997 after completing of his articles with Deloitte & Touche. Bernard has extensive international and local experience having worked for nearly three years with financial institutions in the UK (London) and having audited numerous companies listed on the JSE in South Africa. He is a member of the South African Institute of Chartered Accountants.
Nico obtained qualifications from various academic institutions and currently studies towards the DBA at the Business School Netherlands. He is an associate member of the South African Institute of Chartered Accountants. After completion of his articles with PWC, he lectured in the fields of taxation, accounting and auditing at the Vaal University of Technology. Thereafter, he occupied financial executive positions in the heavy engineering, chemical, transport and automotive industry. Nico has owned and managed various successful businesses over the 20 years. Nico has been a business mentor for various organisation and serves as an external moderator for taxation and internal auditing.
The TSF offers services to individuals, as well as to small and medium-sized business entities. The TSF currently provides services to a select few large corporates and global enterprises. The TSF positions itself as a prominent player comfortably fitting between the big audit firms and the small accounting firms and single practitioners.
The TSF is unique by offering clients:
There is an increasing demand on clients' time. The TSF's sees its value in giving its clients more time and peace of mind that their affairs are dealt with professionally.
Our organisation structure reflects the entrepreneurial type of people within our organisation. Experienced individuals acting with integrity and willing to contribute their expertise in going the extra mile for clients. Our people understand that time is precious and that clients need to do what they love doing, leaving their accounting and tax matters to us.
The TSF has special type of people. They are experienced, established individuals who occupied senior positions in commerce before joining the TSF. Essentially, most franchisees have made an investment in the organisation as a lifestyle choice that values a balance between work and family life. Most of the franchises operate as sole practitioners or as a practice with one or two partners and supported by Head Office. The TSF franchisees supported by Head Office (franchisor) are experienced professionals, tax practitioners and members of recognised professional accountant bodies like the South African Institute of Chartered Accountants (SAICA), the Association of Certified Chartered Accountants (ACCA UK), the South African Institute of Professional Accountants (SAIPA), the South African Institute of Business Accountants (SAIBA) and the South African Institute of Tax Practitioners (SAIT). We are large enough to offer comprehensive accounting, payroll, taxation and related services to individuals and business, yet small enough to care.
Over the next 5 years the TSF leadership look forward to further enhancing the Tax Shop’s offering by engaging and co-creating (with franchisees and clients) the organisation’s services while establishing greater convenience for our clients and franchisees. The TSF plans to use cutting edge technology while continuously upskilling and equipping its franchisees to co-create our organisation with its stakeholders to make meaningful strides into the future.
