Marketing your tax business
Your first 100 Clients
Tax preparation does not require you to be a mathematician, but you do need to know your numbers.
How much money do you want to make? What was your initial investment? What are your expenses and overhead? How much do you need to charge to be profitable? How many tax returns do you need to prepare, at what price, in order to be profitable.
A Lot of the preparers I talk to have goals of 20. Or 30 tax returns. Which is a good start. But to be a real boss and turn a profit, you need to pull in 50-100 tax returns. Especially if you are in a storefront.
For Example:
Income Goal $100,000
Initial investment $2000
Expenses and overhead $12,000
200 Tax returns at $500 prep fee = $100,000
Expenses -$14,000
Profit $86,000
We believe this business is more about relationships. If you know at least 20 people we can show how to utilize the network, you already have and triple it in number. Most importantly you must know how to market yourself and stand out in a crowd.
Don't wait till tax season to start marketing yourself. By then it may be too late
Start NOW! Let people know that you are depending on their business to be successful this year. I believe everybody has $10,000 worth of contacts in your phone! Go through your text messages, and let the people know that you have been texting with about your new business endeavor. Remember the tax industry is unique in the fact that EVERYBODY is a potential customer! Capitalize on this. Your financial future depends on it.
Get a notebook, dedicated to tax season and let’s get to work.
Make a list of all the potential tax clients you will target: Friends, Family, CO workers, business owners.
Get as close as you can to 100 names on that list: Remember 60% of the population is a potential client.
Elevator Pitch: Make it short and sweet. Who you are, what you do, how you can help. remember to create value.
