Happy Tax has a reputation for service and excellence. The flexibility involved in a franchise empowers owners the opportunity to meet the needs of many small businesses that are typically under-served by tax and financial professionals. The most commonly filed tax return by an individual who should have trusted a professional is usually a person who is self-employed, the sole proprietor.
For those who are accustomed to flying solo, simple habit may be the reason a professional tax preparer service is not considered. They may have complete confidence in their own self-sufficiency. Perhaps they see their income as small potatoes. Whatever the reason, sole proprietorships are an under-served market franchisees should reach out to.
Don’t be surprised to be met with resistance. It’s difficult for an independently minded person to let go of a financial area they are accustomed to controlling. Here are a few things to remind them of to encourage their trust in your services:
- Although successful as a solo act in their trade, their skill may have nothing to do with numbers. They could be making simple mistakes in arithmetic that are costly.
- Self-employment often means the majority of an entrepreneur’s energy is devoted to whatever it is that generates income. This could mean they are woefully lacking in organization when it comes to tracking expenditures, holding onto receipts, etc. Even if they use a system like Quickbooks they may not exercise the discipline to keep their books up-to-date and balanced.
- Procrastination is not uncommon. This usually results in a couple of things: costly mistakes in hastily prepared returns or unnecessary fees for filing late.
Once you hone your pitch, explore your local community. Discover who the solo acts are that are working next door or down the street. With more than 23 million sole proprietorships listed in 2014, expect to find many right around the corner. As a franchisee, you always have the support of your Happy Tax community to bolster your capabilities to serve the needs of the under-served.