This acquisition consists of two separate, complementary companies. A Tax Preparation Service and a Tax Resolution Service. The companies are run out of the same location and have a common owner.
The Tax Service has had a rich history in Columbia, SC since the early 1990s. The Tax Resolution Service was incorporated three years ago to focus on another line of revenue.
The companies have been at the same location the past 8 years. They occupy 1,400 square foot office in a well-maintained strip mall, anchored by a regional grocery store and a bank that provide the ideal demographic pull. The layout is an open format with a separate area for the manager, tasteful cubicles for the preparers and a waiting area. The business has completed a long-term lease and is now renting month to month. A new lease will be negotiated with the landlord.
This current marketing efforts are limited. This business can be increased by cultivating the existing base and an additional mail marketing campaign.
Liberty Tax Service, H&R Block and Jackson Hewitt are nationwide franchises that have locations in the Columbia area. A Liberty Franchise is the closest competitor. There are some independent tax services within a 5-mile radius that are also competition.
The managing partner is ready to retire after nearly 30 years owning and managing the business. The partner lives out of state and is not active in the business.
Will train for 4 weeks @ no cost. The Tax Service prepares individual and business tax returns. The Tax Resolution Service also incorporates minimal payroll and bookkeeping as add-on services.