Tax Prep Service With Multiple Locations In Los Angeles For Sale

Business description

This tax prep service with four locations specializes in services to low income, minority based communities. This simple business offers tax preparation, notary, refund advances, and can also offer a number of additional services such as fund transfers, bill pay, check cashing, shipping, mail boxes, and other office administrative functions. The sale includes four Los Angeles locations which is currently designed for expansion of up to 20 locations. The existing business model provides for most of the revenues to be generated during tax season with limited services and hours offered the remainder of the year, allowing a very flexible schedule for most of the year. These well-established locations are extremely profitable and require minimal overhead. An accounting background is not required as most of the tax returns prepared are simple 1040’s that do not require advanced knowledge.

Property information

Real Estate:

Lease

Lease terms:

The tax prep service chain operates four main locations plus six satellite office facilities in low income markets ranging from 600 to 1,200 square feet with monthly lease rates between $800 and $1,500.

Location:

The sale will include all of the business assets fully paid off including the furniture, fixtures, client databases, business name and computers.

Other information

Expansion potential:

This business has significant growth potential. The current owners are not Los Angeles based and decided against aggressively increasing market share as they begin to downsize their operations and progress towards simplifying their business with retirement on the horizon. The facilities can be modified to provide additional services such as check cashing, bill pay, fund transfer, notary, mail box rentals, document translation, monthly bookkeeping services, and even additional tax services for business and corporate filings. A local working owner should be able to focus on expanding the business to the number

Competition / Market:

Competition is considered medium as other tax preparation services exist, however, this business has created a unique model unmatched by competitors and designed to sustain itself yearlong and even through recessionary periods.

Support & training:

2 wks at 20 hrs/wk

Reasons for selling:

Personal