When most people think of “seasonal” types of franchise businesses, they think of things like painting services, lawn care franchises, and concepts related to the wedding industry.
Franchises like the ones just mentioned do tend to be seasonal, and can potentially give prospective franchise owners lots of flexibility during the off-season.
But there’s another sector in franchising that sometimes gets passed over by many franchise buyers who are looking for a business that can really fit their lifestyle needs. These franchises get extremely busy at the beginning of every year… like clockwork.
And they aren’t very busy in the summer.
According to the IRS, over 144 million people filed tax returns this year, with over 60% of them choosing to have tax professionals do it for them. If you’re the owner of a tax preparation franchise, that’s over 40 million potential customers who are looking for your services!
There are several things about tax preparation franchises that franchise buyer’s find attractive;
- The height of the tax season (which is when you’re busy) only lasts around 4 months.
- Most of your employees are seasonal.
- You’re not the one doing the taxes; you do hiring, payroll, marketing and management.
- You can keep your full-time job.
- Low investment.
There’s one myth concerning tax preparation franchises that needs to be debunked right now, and it’s that buyers of tax preparation franchises need to have an accounting or tax preparation background.
Nothing could be further than the truth. Remember; you’re employees will be the ones doing the tax work, not you. Franchise owners in this sector of franchising need to have great managerial skills, and can’t be shy when it comes to networking and marketing. They’ll need to get involved in their local communities, and always be on the lookout for strategic partnerships that can help create referrals.
Go here to learn more about Tax Preparation Franchise Opportunities
The Franchise King®, Joel Libava, is the King of straightforward franchise information, and a strategic marketing partner of ours.