Case studies: Managing director of a bookkeeping franchise: Rohit Shukla

Rohit bought a bookkeeping and management accountancy franchise after graduating from Sheffield Hallam University...

I have loved the accounting concept of business ever since studying it as a module in GNVQ Business Studies at the age of 15. I have a good head for numbers and so I chose to study accounting and financial management at degree level as the first step in securing my professional career.

I knew I wanted to be my own boss even before going to university and I began saving towards the set-up costs of the franchise while studying. With the supplement of a small business loan, I was able to buy the franchise with Accounts Assist soon after graduating.

I decided to sign up as a franchisee, rather than independently, as I would then have the support of chartered certified accountants at the head office. This gives me the benefit of their experience as well as being able to pass clients over to them if they require a service that I do not offer.

My degree is very relevant to my current job. While at university, I learnt how to use Sage, which I now use for bookkeeping, and I also learnt about various tax rules. My degree has also enabled me to interpret key financial statements and management reports, which help assess a client's needs. The modules in particular that helped to prepare me for my work were taxation, financial accounting, management accounting, and financial decision making. I use the knowledge gained in them to help company managers understand how their company is performing and then help to improve the performance of that company. 

I'm currently working towards becoming an ACCA certified chartered accountant and my degree has also helped with this. The subject I studied allows me to be exempt from all of the fundamental modules of the ACCA syllabus, making me a part-qualified accountant. I now only have to complete five modules to become fully qualified.

I run Accounts Assist Leicester from my home office and can work in-house or offsite, according to the needs of the client. I really like it that I am my own boss and can make my own decisions. I love meeting new people and making contacts in the business world.

Securing meetings with prospective clients is always challenging as it's difficult sometimes to get to speak to the right person on the phone. But once I'm through to the relevant person, it's usually not too hard to secure the initial consultation and give them a free quote.

To succeed at being your own boss, you need to have drive and motivation and a 'never give up' attitude. If you think you have these qualities, then go for it.

AGCAS

Sourced by AGCAS editors

Date: 

May 2010

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