In this week’s session, I’ll talk about the sharing economy and the ways it is creating additional sources of income and businesses for those who have a spark to be self employed and entrepreneurial. Whether it’s those renting out rooms in their houses on Airbnb, marketers selling info products on Facebook or people driving others around as Uber or Lyft drivers, the sharing economy is here to stay and it’s disrupting stale old industries.
Today’s technology, new ideas, and creative spins on the old way of doing things are making the world a better place and enabling people just like you to improve their lives and financial situations without having to depend on an employer or have to do it all alone.
Clearly, as Americans, we all work a lot. Sometimes, too much. For some, adding that extra income they can earn in a a side job or side business makes the difference between paying the bills on time or being able to go do fun stuff with their family or friends or saving . One of the challenges is, in most cases, the side job or business is not sustainable or sellable. If you stop working, you stop getting paid. And there’s usually no mechanism to expand beyond the work you can do on your own or to leverage the time of others.
I’d like to make a direct comparison of what it is like to be an Uber driver vs what is is like to be a Happy Tax franchisee.
Uber drivers are independent contractors and use their personal vehicles to pick up strangers and drop them off. They incur substantial wear and tear on their vehicles including gas, oil changes, breaks as well as adding lots of miles which depreciates the vehicles value. It has been shown in multiple investigative articles published on the internet that many Uber drivers earn between 10 and $20 per hour after taking into account all of these expenses. There is no way to build a business or equity or sell your client base as an Uber driver.
Happy Tax franchisees own their own business and receive support directly from our executives, support personnel, and marketing professionals. They utilize our training and guided marketing techniques to find customers who want their tax returns prepared by a CPA at an affordable and transparent price. Plus, we send franchisees interested clients in their area directly to them with no additional fees. They meet with these customers anytime, anywhere including at their existing workplaces, a coffee shop or anywhere convenient. They take pictures of tax documents and fill out a digital client information sheet on our proprietary tablets and the information securely send off to our Happy headquarters where our client service team and CPAs prepare the return. And, with this, they earn between $140 and $350 per tax return. And since we handle the work of preparing the returns for them, they can spend more of their time gaining more business.
Uber or Happy? You make the call.
Have a wonderful and productive rest of the week and take care.