Recently, Smart Tax was featured on BNET.com in a column entitled, “The Accidental Franchisor.” Nick Rizzi, CEO of Smart Tax, shares his experience as a small business owner and the route he took to creating Smart Tax. Understanding that the tax industry was a profitable recession-resistant field, Rizzi knew he wanted to get into the industry and initially believed that he would join an established franchise. When the territory in Brooklyn he wanted was sold out, Rizzi decided to bypass the competition and start Smart Tax. Rizzi shares some of the obstacles and challenges that he experienced as a new business owner such as a roof leak, which the landlord refused to fix. After finding success with Smart Tax, Rizzi launched the company as a franchise in 2010, which has grown tremendously to a 27 unit franchise. Click here to view the full article!
Six years ago I decided that knowing how to do taxes would help me broaden my financial advisory practice. After doing the math, however, I realized that for just three or four months of work, a tax preparer can make more than some financial advisers make in a year. I knew I wanted to get into this business.
It seemed like the easiest way to get started would be to buy into one of the established franchise models, so that I could hit the ground running with minimum startup hassle. The problem was, none of those established companies were looking for more franchisees in my area. So I decided to start Smart Tax from scratch.