Tax Preparation Service Business Plan and SWOT Analysis

Tax Preparation Service Business Plan, Marketing Plan, How To Guide, and Funding Directory

The Tax Preparation Service Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start a Tax Preparation Service business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.

Your Business Planning Package will be immediately emailed to you after you make your purchase.

Product Specifications (please see images below):

  • Bank/Investor Ready
  • Complete Industry Research for the Industry
  • 3 Year Excel Financial Model
  • Business Plan (26 to 30 pages)
  • Marketing Plan (24 to 28 pages)
  • 425+ Page Funding Directory
  • PowerPoint Presentation
  • Loan Amortization and ROI Tools
  • Three SWOT Analysis Templates
  • How to Start a Business Guide
  • Easy to Use Instructions
  • All Documents Delivered in Word, Excel, and PowerPoint Format
  • Meets SBA Requirements

As they say, death and taxes. Taxes are always going to be a part of life, and within the United States the tax code is extremely complex. As such, many people turn to tax preparation services in order to have their yearly tax returns completed. For people that owned businesses, or executives, or professionals – the tax complexity increases substantially. This is primarily due to the fact that people frequently take large deductions that are need that need to be properly outlined within a tax return document. Most importantly, the demand for these services is seasonal. Beyond the primary filing dates of April 15 and October 15, many tax preparation businesses provide ongoing advice regarding business planning and tax purposes. The barriers to entry for starting a new tax preparation service are considered moderate. Most people involved in this industry often are licensed as a CPA or an enrolled agent. The gross margins generated from tax-preparation services is extremely high.

A tax-preparation service business plan should focus on how the organization is going to become profitable within the first year of operation. Most entrepreneurs that enter this industry frequently do so about six months prior to the tax filing date. This provides the business with an opportunity to market its services to the general public. Within the business plan, a full financial model that showcases the profit and loss statement, cash flow analysis, balance sheet, breakeven analysis, common size income statement, and business ratios should be shown especially if you are looking to raise capital from a bank or financial institution in order to commence operations.

A marketing plan specific for tax-preparation service should also be completed. If your practice solely specializes in tax-preparation then you are going to need to launch large-scale campaigns that focus specifically on the months prior to April in the months prior to October. It is very important that a tax-preparation service maintains a large-scale online campaign as many people now find specialized services through the Internet. The website should include information about staff tax preparers, preliminary pricing information, hours of operation, and location information. It is also important to take out print advertisements in local and regional newspapers.

A SWOT analysis for tax-preparation service should also be completed. This document showcases the strengths, weaknesses, opportunities, and threats of these businesses face on an ongoing basis. For strengths, most people do not have the ability to properly file their taxes on their own. As such, the demand for quality tax-preparation advice and services remain strong in any economic climate. For weaknesses, the competitive issues that face these businesses is immense. Again, many CPAs provide this as their primary service and as such an entrepreneur will be completed competing with these entities as they progress through their business operations. Relating to opportunities, many of these businesses will often hire a large-scale temporary staff in order to complete as many tax returns as possible. For threats, one of the most difficult thing difficult challenges of a tax-preparation service is the fact that the tax code is constantly changing. As such, it is difficult to find staff that has a complete understanding of the tax code and how to properly file tax returns on behalf of clients.

These businesses can be extremely lucrative provided they establish a strong presence in the market. Most importantly, it is in imperative that a tax preparation service provider’s offerings at a reasonable price in order to remain competitive. It should be noted that automated tax-preparation software is a competitive threat to these businesses, however – for more complicated tax returns of a person who is skilled in these matters is required to render the services.