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Start A Tax Preparation Business - Knowing Your Competition Business Articles | October 12 Cheap Jerseys China , 2010
Non-Franchise tax preparation businesses do not need to be at a disadvantage when it comes to market research. To make an educated decision on office location you need to know your market and know your competition. We show you how to get this information for free!


Starting a Tax Business is an entrepreneurial leap that many self-motivating individuals are finding more and more appealing. With the Tax Code becoming more complex every year, the portion of the population of taxpayers who seek out professionals to assist in their tax preparation and filing is growing steadily. Start-ups face some big questions. What is the best location for my new tax prep office? Who are my competitors? What is my target market? How am I going to get new customers in the door? I would like to try to help shed some light on these questions as you move forward toward the coming tax season.


What is the best location for my tax service?


You probably are familiar with the national chain tax businesses in your area. They are easy to spot. The three big players are H&R, Jackson Hewitt Cheap Jerseys , and Liberty. It is tough to come across a strip mall that does not have one of these guys already in it, but you should ask yourself: why do they choose these locations? You can rest assured they have done their homework. The reason they choose their locations typically are due to population density, average adjusted gross income (AGI) in that surrounding area Wholesale NBA Basketball Jerseys , and proximity to their target market. You should use the same factors when considering locations for your tax business. If you are familiar with the specific area you are considering you probably have a pretty good idea how many people have access to that location, what income level they belong to, and you can do a survey of competitors by driving around. There are specific demographical and socioeconomic reports that provide specific detail relating to these topics. But you should be thinking about all of these factors before signing on lease for your tax service. Later in this article I will provide you a free source for this information!


Who are my competitors?


It is commonly known that franchise tax preparation offices typically gobble up around 25 to 30 percent of the market of taxpayers who seek out paid preparers to assist with their returns. The other 75 percent of the market is split up among non franchised tax preparation businesses. Many of these businesses are in the same position you are and ask themselves the same questions. How do I get more customers in my door? They do not have a nationally recognized brand and do not have the budget to run television and radio commercials. This is where your tax business has an opportunity to take advantage of these tax businesses and steal market share. I will get into affordable Wholesale Basketball Jerseys Online , high return on investment marketing programs in another article, but before you implement these programs, you must identify who these non-franchise competitors are. Once you are confident in your office's product Wholesale Basketball Jerseys Free Shipping , skilled tax preparation, and have a defined marketing strategy, you can then also go after customers from the national chains! Later in this article I will provide you with a way to find out exactly who is preparing tax returns in your area!


What is my target market?


This should be an easy question to answer. What tax payers do you want to go after? Do you want high income Wholesale Basketball Jerseys From China , affluent customers and business owners with difficult returns or do you want lower-income, blue-collar taxpayers whose returns are fairly straight forward and similar from customer to customer? If you say that you want a piece of both of these markets; I like your drive, but for marketing purposes we need to have an individual strategies pinpointing certain demographics and socioeconomic groups. If you want to go after both market segments; you will need to have more than one campaign to achieve this goal. If you are just starting out Wholesale Basketball Jerseys China , I would suggest picking one target market. This keeps it easy to implement and manage. Again, hold tight, I will provide you with the means to get the information on who is in your area shortly Wholesale Basketball Jerseys , allowing you to determine if your target market ha. Cheap Jerseys China Free Shipping Cheap NFL Jerseys Wholesale Cheap NFL Jerseys Wholesale Sports Jerseys Wholesale Sports Jerseys Cheap NBA Hats Wholesale Hoddies Free Shipping Cheap Hoddies Free Shipping Cheap Hoddies Wholesale Cheap NCAA Hats