Frequently Asked Questions
Do I need to be a CPA or an accountant to own a franchise?
Roni Deutch Tax Center franchise owners come from all walks of life. No tax preparation experience is necessary. We provide you with tax preparation training. Also, the tax software that you will use makes preparing taxes very easy to do.
Who will train my tax preparers?
We will thoroughly train you on how to use our easy tax preparation software and how to prepare tax returns. You will train your tax preparers. This is a great way to find employees and to recruit tax preparers each year by offering “free” tax school preparation classes.
Do I get any training?
Yes. We provide you with two weeks of training. The first week is on how to operate your tax franchise and how to follow our franchise system. The second week is on how to prepare tax returns. We are the only tax franchise in the industry that provides training on how to prepare taxes, business management techniques and additional marketing techniques. This second week can be attended at our corporate headquarters or attended on the internet.
What is my investment?
The approximate cost to open a Roni Deutch Tax Center ranges from $42,900 to $96,500. The greatest variable depends on real estate. Costs vary depending on where you open your business and how much work has to be done to the retail space. For example, the cost to lease a retail space is more in San Francisco, California than it is in Tulsa, Oklahoma. Also, a retail space that is a “plain vanilla box” that just requires paint will cost you less than picking one that requires extensive remodeling, paint and carpet.
How much money can I make?
Before anyone starts a new business venture it is natural to ask the question “how much money can I make?” By law franchisors are prohibited from making earnings claims as to how much money a prospective franchisee can make. Additionally, the amount of money that someone will make will vary from person to person. Factors that will influence how much you make are how well you follow the systems, how well you market your business, how well you control costs, and the location of your business. With all of these factors we will train you, to help you be as successful as possible.
Do you assist with financing?
Yes, the Roni Deutch Tax Center is an SBA approved franchise (www.sba.com) and you can receive assistance with financing through third party lenders.
Will you help me find a location?
Yes. We will work closely with you to make sure you have the right combination of demographics, traffic and business neighbors. We will also help you to obtain a fair rate on your lease negotiations. Things like permits and licenses your builder and the local license board for your community will help you.
Will you help me find a building contractor?
Yes. We will either recommend a builder to you or help you to find one locally.
How long is the franchise agreement?
The franchise agreement is for 10 years. After 10 years you have the option to renew your franchise for another 10 years.
How long have you been franchising?
Roni Deutch has been practicing federal tax law for the past 16 years. Roni founded and started franchising the Roni Deutch Tax Center in 2007. This is great time to join the franchise system, as prime territories are now available.
What makes a good Roni Deutch Tax Center franchise owner?
Most importantly we are looking for someone who understands and will follow our franchise system. When you invest in a franchise you are paying for our expertise in marketing, support and generally running an efficient business. “Don’t try and reinvent the wheel”. Use our system to grow your business and recognize that it takes hard work to build any successful business.
How can I be successful?
Your success depends on your commitment and following the system. You must provide your business and staff the leadership, tools and support similar to the way you would build a family. You must be there when your business needs you. During tax season that could mean some long work days. Between seasons you should be working on building your client base for the next season or offer one of our off-season income programs. Use the tools that we give you for marketing and business development. Work hard and keep following the system and success will follow.
Is this a part-time commitment?
It’s more of a seasonal commitment than part-time. Just like running a restaurant at a seasonal resort you will be very busy during tax season which is January 1 through mid April then you can adjust your work schedule . You can work full time marketing your business through our Employee Resource Program or scale it down to as little as one day per week.
Can I keep my current job and still own an RDTC?
Yes. With our complete and thorough training program for the franchise owner, manager and tax preparers you can certainly remain at your present employment and operate one of our tax centers. We have doctors, construction company owners, and other owners who have full-time jobs who use a manager to run their tax centers. And with our accounting and business controls you will be able to closely manage your tax center even though you are not on site every day.
Do franchise owners perform better than non-franchised businesses?
According to recent studies, over 40% of retail sales come through franchises and yet only 8% of those businesses are franchised. Also, franchise owners tend to average 10% greater sales and have expenses that are 5 - 10% lower. This goes to show that franchising can help contribute to a business owner's success.
(Source: http://www.franchiselaunch.com/index.php?page=facts)