Drive down any street in the US these days and it’s not long or long before one meets the office that prepares and files tax returns. Many of these are well-known franchise offerings; some are almost identical to the tax preparation itself. There are old time names and newcomers too. Each of these franchises has a niche they serve. Many of the smaller and newer tax franchise offices specialize in RAL or “Anticipated Refund Loans”. Some companies have names that sound like accounting firms while others have names that sound more commercial.
TAX DRx is a new and different type of tax franchise that combines tax preparation and settlement services under one roof. We all know what tax preparation is, but tax resolution adds an attractive and lucrative service to the TAX DRx franchise offering. Tax resolution is a service in which professionals work with those experiencing problems with the IRS to help them “resolve” differences and/or disputes. Many tax preparation offices are busy from January to late April, then close or open with reduced hours after that time. The DRx TAX office generates revenue throughout the year which makes their business model very different.
It is estimated that nearly Sixty Percent (60%) of US taxpayers pay a professional to prepare and file their returns. This makes tax preparation a great business for the right people. Tax preparation is considered a recession-resistant business and also has low start-up costs. These two things combine to make it an attractive business now and for years to come.
The tax resolution aspect of TAX DRx makes it a very attractive franchise offering compared to other franchises. In order for a professional to offer tax resolution services, they must be an attorney, CPA, or Registered Agent with the IRS, a designation that can only be obtained after passing a test administered by the IRS. TAX DRx expects all franchisors to eventually have a professional appointment to handle tax resolution work. TAX DRx has a way of helping every tax franchisor with tax resolution cases until they get the designation they need. By requiring franchisors to have a better and deeper knowledge of tax preparation, it is hoped that DRx TAX can offer a higher level of tax service than other tax franchises, thereby attracting clients who are willing to pay less. more for better service quality.
