As a small business owner, you understand how important it is to create long-term relationships with satisfied customers. Your established clients may be a source of regular recurring revenue for you already, but expanding your service offerings will allow your business to grow even more in the years to come. One excellent way to earn more revenue from your existing customer base is by offering tax preparation services.
If you are in one of these four industries, offering tax preparation services may be the next logical step that allows you to increase revenue — not just during tax season, but all year long!
4 Businesses That Can Benefit From Offering Tax Prep Services
1. Financial Advisors
You already have a solid knowledge of your clients’ financial situation, income, assets, and investments, so why not add their taxes to that list? Your clients won’t have to look elsewhere to have their taxes prepared, and you may even gain new long-term clients when people come to see you before Tax Day.
2. Accountants
Few people have a better understanding of tax laws and IRS requirements than accountants and certified public accountants. Ensure your clients get the best tax prep services possible by offering these additional services yourself. Your expertise will encourage new clients to seek out your services as well.
3. Insurance Agents
As an insurance agent, you probably don’t just work with individuals and families, but with small and large businesses as well. Increase revenue by offering them all tax prep services. You’ll not only earn more income through these services, but you’ll also increase sales of your insurance products to new clients who come to you for tax prep.
4. Seasonal Businesses
Those who work in seasonal industries like retail, landscaping, real estate, and travel can actually benefit from the fact that tax preparation is largely a seasonal job as well. Supplement your income by working as a tax prep professional four months out of the year while still having plenty of time for your regular business.
Understand Which Businesses Benefit From Your Services
When considering offering tax prep services, it’s important to be aware that some business owners may benefit more significantly from your services and expertise than others. These are the companies that you should reach out to directly or through your various marketing efforts. Smaller and home-based businesses are less likely to have an in-house accounting or financial professional, so you may consider targeting these businesses rather than larger corporations, at least at first. Small doctors’ offices, IT consultants and many other non-financial focused individuals and businesses are excellent options to seek out to begin with.
Reach Out to Potential Clients
Now that you have a better idea about who to reach out to, consider what steps you will take to contact them. Begin by reaching out to existing clients. Since you’ve already established a trusting relationship with them, they’ll be more likely to take you up on the offer and spread the word to their friends, family, or associates if they’re happy with your services.
You can also take an indirect approach to contacting current and new clients, such as through social media marketing methods. Tout the benefits of your services rather than details about the services you provide.
For more information on how to get started with tax preparation services, contact Umbrella Financial Services Tax Solution Group today!