3. DISCLAIMER
Disclaimer
Velocity Consulting has prepared this report for the sole use of its Client. The report may not
be relied on by any other party without the express written consent of Velocity Consulting,
Velocity has exercised due and customary care in conducting this study, but has not, save as
specifically stated, independently verified information provided by others. No warranty,
expressed or implied, is made in relation to the contents of this report. Therefore, Velocity
assumes no liability for any losses resulting from errors, omissions, or misrepresentations
made. This report was prepared at the request of the Client.
Any recommendations, opinions, or findings stated in this report are based on the
circumstances, data presented by the client, and facts as presented at the time Velocity
performed the work. Any changes in circumstances and facts upon which this report is based,
or errors or omissions in the data presented to Velocity may adversely impact any
recommendations or findings.
3
4. ACKNOWLEDGEMENTS
Acknowledgements
Project Manager
- John Austin Johanneson
Finance & Accounting Team:
– (Manager) Austin Johanneson
– Tarrin Beck
Geographic Information System Team:
– (Manager) Ryan Lindsey
– Matt Hellyer
– Richard Ward
Social Media Team:
− Tyler Jansma
Marketing Team:
– (Manager) Rebecca Baader
– Amy Brown
– Stephanie Zimmerman
– Tarrin Beck
Strategy/Human Recourses Team:
– (Manager) Stephanie Zimmerman
– Chad Westenberg
– Chris Peavy
Advisors:
– J.J. Shields
4
The project has been carried out under the auspices of Carthage’s A.W. Clausen Center.
5. INTRODUCTION
Introduction
Expert Tax Solutions was started in 1999 by founder Russ
Eichner in his basement. Since that time, the company has
grown and currently has their main office in Racine and a
branch office in Green Bay.
With the stable growth and success of his two current offices,
Russ expressed an interest and desire to continue the
successful growth and look into expansion in other locations in
Southeastern Wisconsin and Northern Illinois. Having worked
with Velocity Consulting previously regarding marketing and
branding, Russ and the Expert Tax Solutions team approached
Velocity for a business expansion analysis and model.
Expert Tax Solutions hired Velocity Consulting to develop this
expansion plan that would include growing in Southeast
Wisconsin and Northern Illinois region.
5
6. EXECUTIVESUMMARY
Executive Summary
• Velocity Consulting was asked to create a expansion business plan that focused on the tax preparer industry in the
Midwest region. Our team looked at the main competitors in the Crystal Lake area that incudes the following:
• During creating the expansion business plan, the team worked to create the following aspects for the company to utilize:
prepare a budget, develop a social media plan, reorganize the corporate structure, design a marketing plan, and devise
geographic information systems.
Top Line Conclusions
• Expert Tax Solutions needed assistance in creating a budget for the potential new location
– The budget was determined based on revenue and the team concluded that 5% of revenue can be directed to
advertising.
• Expert Tax Solutions had little, if any, exposure on social media websites such as Facebook, Twitter, and LinkedIn.
− In not having a social media presence, Expert Tax Solutions was missing out on an opportunity of free
advertisement that was concluded that one employee/intern could be responsible for.
• The team reorganized the corporate structure of the company to correspond with transitioning from a small to a
medium/large business.
– During this process, the job titles and duties of each employee were defined to assist in future human resource
activities.
• In relation to expansion, Expert Tax Solutions needed a marketing plan to increase brand recognition and attract
customers to their potential new location.
− The marketing plan consists of seven major parts including: social media, open houses, radio and print
advertisement, direct mailing and emailing, chamber of commerce membership, and local team sponsorships.
• The Geographic Information Systems (GIS) concluded that the ideal area for expansion is in Crystal Lake, Illinois through
the analysis of maps and available data.
6
H&R Block James Gioia & Company PC On Site Accounting Examplar Financial Network
Jackson Hewitt Tax Service Joel Shabsin & Associates Miller Verchota, Inc. CPA’s Sansone Accounting & Tax
SMT & Associates, Inc. McDonald Doherty & Co Todd Bacon & Associates Broman & Kosar, Ltd. CPA’s
Caufield & Flood Martin Johnson Tax & Financial
9. COMPANYOVERVIEW
Company Overview
Expert Tax Solutions, established by Russ Eichner in 1999,
was started in his basement and has now expanded into an
established company with locations in Racine and Green Bay,
Wisconsin. The company has a strong customer base that is
confined to the Eastern parts of Wisconsin. The company
follows three key principles in their work:
• Professionalism
– Our firm is one of the leading firms in the area. By
combining our expertise, experience and the
energy of our staff, each client receives close
personal and professional attention.
– Our high standards, service and specialized staff
spell the difference between our outstanding
performance, and other firms. We make sure that
every client is served by the expertise of our
whole firm.
• Responsiveness
– Our firm is responsive. Companies who choose
our firm rely on competent advice and fast,
accurate personnel. We provide total financial
services to individuals, large and small
businesses and other agencies.
– To see a listing of our services, please take a
moment and look at our services page. Because
we get new business from the people who know
us best, client referrals have fueled our growth in
the recent years.
– Through hard work, we have earned the respect
of the business and financial communities. This
respect illustrates our diverse talents, dedication
and ability to respond quickly.
• Quality.
– An accounting firm is known for the quality of its
service. Our firm’s reputation reflects the high
standards we demand of ourselves.
– Our primary goal as a trusted advisor is to be
available to provide insightful advice to enable our
clients to make informed financial decisions. We
do not accept anything less from ourselves and
this is what we deliver to you.
– We feel it is extremely important to continually
professionally educate ourselves to improve our
technical expertise, financial knowledge and
service to our clients.
– Our high service quality and “raving fan” clients
are the result of our commitment to excellence.
Much of Expert Tax Solutions’ success can be attributed to
their strong “word of mouth” and grassroots marketing for
providing great friendly services.
Expert Tax Solutions is looking to expand their business by
opening a new location in the Northern Illinois region.
9
10. PRODUCT&SERVICES
Products and Services
Expert Tax Solutions provides the following services:
• Tax Planning
• Business Services
– Payroll
– Business Formation Assistance
– Bookkeeping
• Retirement Planning
– Budgeting
– Income Distribution Planning
– 401k Rollovers
– Roth/Traditional IRAs
– Pension Maximization
– Life Insurance
• Business Planning
– Succession planning for selling your business
– Advising on HSA – Health Reimbursement Plans
– Group Disability/Key Person Life Insurance
– Group Retirement Plans: SEP, SIMPLE, 401K, Solo 401K, Roth Options
10
11. COMPANYPOSITION
Company Position
Based on in-depth discussions with various industry
members, the positioning chart (right) was created.
Overall, the majority of the major tax franchise companies
are perceived as expensive and have a good reputation. The
exceptions to this are Liberty Tax and Instant Tax; both are
perceived as being less pricey, but also suffer in terms of
reputation.
Smaller independent tax companies seem to have a lower
reputation, yet have a broad band for pricing.
Expert Tax Solutions is uniquely positioned: they have the
same high reputation as the major players, but with more
reasonable pricing. This is the position that Expert Tax
Solutions must maintain as they expand.
Expert Tax Solutions also has the following descriptors
attached to their name in their current markets of Green Bay
and Racine:
• Professional
• Relaxed atmosphere
• Hometown
• Friendly
• Local
• Experts
• Caring
The “Relaxed” and “Hometown” descriptors will be key
elements in the marketing plan for the expansion markets.
Positioning Matrix
11
High PricedLow Priced
Good Reputation
Poor Reputation
H&R Block
BMO Harris Bank
Jackson Hewitt
Liberty Tax
Expert Tax Solutions
Instant Tax
Self Prepared
Edward Jones
Smaller Tax Services
Key Observations
• Expert Tax Solutions holds a unique position in the
market. It must continue to defend this position.
13. EXPANSIONPLANOVERVIEW
Introduction
A thorough GIS (Geographical Information Systems) study
was conducted by Velocity which included southeastern
Wisconsin and northern Illinois to determine the best
possible locations for expansion. Some the parameters used
included:
– Household income
– Population density
– Population growth
– Traffic patterns
– Competitive locations
– Competitive estimated sales
The GIS study identified the following cities as potential
major opportunities:
– Kenosha, WI
– New Berlin, WI
– Waukesha, WI
– Crystal Lake, IL
– Waukegan, IL
After careful analysis, Velocity recommends that Expert Tax
Solutions start their expansion in Crystal Lake, Illinois.
This section will focus on the data sets for the city of Crystal
Lake. (Note: additional GIS data for the other cities is located
in the appendix.)
Recommendations
• Based on the GIS study, the best potential city to
expand to is Crystal Lake, IL.
• Listed below are specific locations to locate the
business (store front) in Crystal Lake
• Road V29 south of Road A46
• W Algonquin Road between A48 and
Highway 31.
• NOTE: should avoid the competitor
located at the intersection of 31 & V36
(see Competitors Location – Crystal Lakes
Map for details)
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14. DEMOGRAPHICSOVERVIEW
Demographics Overview
Financial
Crystal Lake, IL Kenosha, WI
Population 44,900 96,400
Median family income
(per year)
$88,562 $58,791
Family purchasing power
(annual, cost-of-living adjusted)
$90,926 $58,557
Sales tax 6.50% 5.5%
State income tax rate
(highest bracket)
3.00% 6.75%
State income tax rate
(lowest bracket)
3.00% 4.60%
Job growth %
(2000-2006)
20.25% 9.33%
Housing
Average home price $250,702 $166,941
Average property taxes
(2005)
$5,522 $3,585
Education
Crystal Lake, IL Kenosha, WI
Colleges, universities and
professional schools (within 30 mi)
17 13
Junior colleges and
technical institutes (within 30 miles)
10 8
Test scores reading
(% above/below state average)
12.6% -4.6%
Test scores math
(% above/below average)
17.0% -9.0%
% students attending
public/private
schools (located within town limits)
94.5/5.5 88.1/11.9
Other Demographics
Median age 34.0 34.1
Completed at least some college
(% of residents)
74.0% 51.7%
Married 63.8% 48.4%
Divorced 8.0% 11.4%
Racial diversity index
(100 is national average; higher
numbers indicate greater diversity)
18.0 71.8
Amount spent on vacations
(domestic and foreign, household avg.
per year)
$8,140 $6,381
14
Key Observations
• Note: Kenosha was added as a point of reference.
• Clearly Crystal Lake is more desirable in terms of
income, education… than Kenosha.
• Note: Kenosha has better demographics than Racine
(home base for Expert Tax Solutions). Income +11.7%,
Job growth +145%...
Source: CNN/Money “Best Places to Live” 2007
15. HOUSEHOLDINCOME–CRYSTALLAKE
Household Income – Crystal Lake
Key Observations
• Crystal Lake has higher
household income overall when
compared to Waukegan, another
potential location.
• While both suburbs harbor some
of the ring of wealth around
Chicago- made up of
professionals and workers who
commute to the city- Crystal Lake
income levels are far more
homogeneous than in
Waukegan.
• Waukegan has a wide range of
income, which is especially low in
the downtown area.
15
16. POPULATIONGROWTH–CRYSTALLAKE
Population Growth – Crystal Lake
Key Observations
• Crystal Lake shows more
areas of expected growth than
Waukegan, and conversely
Waukegan has more areas of
expected decline.
• Part of this can be explained
by the fact that more
developable land is available
in the Crystal Lake region, but
not in Waukegan.
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17. COMPETITORS,SALES–CRYSTALLAKE
Competitors’ Sales – Crystal Lake
Key Observations
• This map shows the
potential of competitors in
northern Illinois by their
reported sales volumes.
• Illinois has overwhelming
competition in Chicago, but
it is sparse in the north and
northwest suburbs, where
these two potential sites are
located.
• Although Waukegan has a
natural barrier from the lake,
limiting the number of
surrounding competitors,
Crystal Lake still has fewer
potential competitors than
Waukegan.
This data is from ArcMap
Business Analyst
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18. COMPETITORSLOCATION–CRYSTALLAKE
Competitors Location – Crystal Lake
Key Observations
• This map shows Tax Specialists,
Financial Planners, and Attorneys' Offices
in the Crystal Lake area and includes an
estimated sales volume by each
business.
• The Block Groups are symbolized by
Median Household Income, which may
serve as an indicator for a specific,
desired client base.
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19. AVERAGEDAILYTRAFFIC–CRYSTALLAKE
Average Daily Traffic – Crystal Lake
Key Observations
• Since marketing is critical for
success and much business can
be gained via “drive by” visibility,
traffic data should be used for
store placement.
• The areas enclosed in the red
dashed line are high traffic and
appear to be the best potential
for store placement.
Specific Locations
– Randall Rd. (Road V29 )
south of Ackman Rd.
(Road A46 ).
– W Algonquin Road
between IL 31 and Haligus
Road (V23).
• NOTE: Avoid site and
competition near the intersection
of IL 31 and W Algonquin Rd.
(seen on previous map).
19
20. DEMOGRAPHICS–INFOUSA.COM
Demographics – InfoUSA.com
• Demographics from InfoUSA.com:
– Age 30-54
– Income $100k - $500,00k
– Home Ownership
– Single Family Dwelling
– Estimated Wealth $135k - $1,85K
– Charitable Donor
– 10 mile radius around Crystal Lake
• The above demographics results in 2,179
addresses
• Note: Crystal Lake is ideally located between
the high density areas around McHenry &
Algonquin (each is ~10 miles from Crystal
Lake)
20
10 Mile Radius
from Crystal Lake
Crystal Lake
21. DOWNTOWNRETAILSPACE
Financial Services downtown Crystal Lake
– BMO Harris Bank
– Country Financial (William L. Layer) (doesn’t do taxes)
– Crystal Lake Bank & Trust (doesn’t do taxes)
– Edward Jones & Co. (Danny Hampton)
– Home State Bank (doesn’t do taxes)
– Team Rhino Lending (doesn’t do taxes)
21
Downtown Retail Space
22. RETAIL/OFFICESPACEAVAILABLE
• http://www.downtowncl.org/22.html
• 101 N. Main St. - First Floor Contact Number: 815-455-4000
– Suite 9: 105 square feet, $219 month
– Suite 17: 432 square feet, $598 month
– All inclusive rental rates: utilities, building maintenance,
taxes and insurance included
– Street parking and parking in back of building
– Convenient walking distance to restaurants, bank, shops
and services
• 58-1/2 N. Williams St. Contact Number: 815-444-1797
– Second Floor, carpeted office, 2,000+ square
feet, $1,940 month
– Street Parking available
22
Retail / Office Space Available
24. COMPETITIVEANALYSIS
Competitive Analysis
The following tables list potential competitors in both the Kenosha and Crystal Lake areas. Strengths and weaknesses were
determined based industry reports, discussions with industry personal and internet searches. (Note Kenosha was added as a
point of reference)
24
Competitor Kenosha Crystal
Lake
Strengths Weaknesses
Liberty Tax
Service
X Part of a franchise allows access to
company's resources. They also have
brand recognition wherever they are
located.
Due to the franchise aspects, there is no room for changes in
the way the business is ran. In a franchise, the business
becomes less personal because there is no guarantee that the
same person will complete the clients' taxes each year.
Villani Becker &
Larsen
X A firm that stresses its values of
professionalism, responsiveness, and
quality. With employees from the area,
they have a loyal customer base. They
also focus on the non-profit sector to
assist religious organizations.
This business lists its services in order on their website of
payroll, accounting, and then tax services. This probably means
that this what they work the most on and may not be as skilled
in the tax services.
H&R Block X X Part of a franchise allows access to
company's resources. They also have
brand recognition wherever they are
located.
Due to the franchise aspects, they is no room for changes in the
way the business is ran. In a franchise, the business becomes
less personal because there is no guarantee that the same
person will complete the clients' taxes each year.
Tirabassi Felland
& Clark LLC
X They listed their services as tax
preparers, accounting services, and
estate/financial planning. This means that
they believe they are strong tax preparers.
When searching their website, one is unable to click on their
homepage to find information about their services and
employees. This disallows people to gain information about their
company.
Jackson Hewitt
Tax Service
X X Part of a franchise allows access to
company's resources. They also have
brand recognition wherever they are
located.
Due to the franchise aspects, they is no room for changes in the
way the business is ran. In a franchise, the business becomes
less personal because there is no guarantee that the same
person will complete the clients' taxes each year.
Specialized
Accounting
Services LLC
(Pleasant Prairie)
X The website is very informative. They also
focus on small businesses as well as
individual services. The staff has all had
many years in the field with degrees from
highly respected academic institutions.
Tax services are ranked as the third most popular service that
they provide.
25. COMPETITIVEANALYSIS
Competitive Analysis
Competitor Kenosha Crystal
Lake
Strengths Weaknesses
Professional
Accounting
Services
X They pride themselves in specializing in
both personal and corporate taxes.
The other services that they offer are wide spread and will not
allow them to be experts in each of these areas.
Accurate Tax
Racine & Kenosha
X As their name suggests, their main
business are tax related services. They
have a BBB A+ rating.
There is not much information available on the business online
for their potential customers to find out about them.
Michael H Parrish
CPA
X This firm has tax management services
as the first service they have available.
The information available reads like it's more geared to business
rather than individuals.
Seymour &
Associates
X This firm has tax management services
as the first service they have available.
This firm is focused on the business services offered over the
individual services offered.
Franz Accounting
& Tax Services
X This firm is small, but they want to have
that personal touch with each and every
one of their clients. Has more than one
location.
In the list of services available at this firm, tax preparing is among
one of the last services that they offer. They also focus on the
business over the individual.
SMT &
Associates, Inc.
X Taxes are a major part of their business. They focus on the business over the individual. They also are
spread across a number of sectors like healthcare,
manufacturing, law firms, and other industries.
Caufield & Flood X They offer a variety of tax services for
their clients. They also encourage their
customers to refer their friends to their
business by gift certificates.
Their focus is on businesses over the individuals. The tax
services available are more wide spread to businesses.
James Gioia &
Company PC
X This firm is really serious about the tax
part of their business. On their home
page, it goes into detail right away about
which services for taxes that they offer.
They also list more services for the
individual over businesses.
The listing of only one employee/president of the company
makes one believe that this is a one person business. This
means that the amount of business that can be taken on is
depending on how much work this one person can do. The
business is also in a residential area. This may discourage some
clients do to its location.
25
26. COMPETITIVEANALYSIS
Competitive Analysis
26
Competitor Kenosha Crystal
Lake
Strengths Weaknesses
Joel Shabsin &
Associates
X With 25 years of experience, the firm will
have a very loyal customer base. Also
they have more than one location.
Tax services are geared toward small business owners and not
towards the individual.
McDonald Doherty
& Co
X They value each and every client
relationship they have and they view
these relationships as a partnership.
Tax services are one of the last services that this firm offers. It
focuses its accounting and consulting services more.
Martin Johnson
Tax & Financial
X Due to this firms long 44 year span in
this area, they are a known business that
people can trust and respect since their
business has lasted this long. They also
focus on the tax services of the
individual.
It is unsure about how many employees work at this firm to judge
how big of a client base they have.
On Site
Accounting
X This firm seems very friendly in regards
to customer service and they seem
knowledgeable about the services that
they do provide.
Tax services are one of the last services that this firm offers. It
focuses its accounting and payroll services more.
Miller Verchota,
Inc. CPA's
X They highlight their experience by having
employee biographies on each one of
their employees. They also show their
credibility in the community by their
involvement with various memberships
and chamber of commerce.
Tax services are not one of the top services that they offer. They
are more focused on their accounting and auditing service over
tax services.
Todd Bacon &
Associates
X This firm focuses on the needs of the
individual over the needs of the
business.
The tax services that they do offer are not their top service.
Broman & Kosar,
Ltd. CPA's
X The firm builds its credibility through their
want to be a expert and efficient firm and
by serving each client to their specific
needs.
The business service are the highlight of this firm with tax
services the last service that they offer.
27. COMPETITIVEANALYSIS
Competitive Analysis
Competitor Kenosha Crystal
Lake
Strengths Weaknesses
Examplar
Financial Network
X The professional shown in their website
exemplifies the amount of
professionalism they put into their
business.
They do focus on the of the individual, but the tax services are
not what their firm focuses on.
Sansone
Accounting & Tax
X This firm focuses on the tax services for
individuals.
It is unsure about how many employees work at this firm to judge
how big of a client base they have.
27
Key Observations
• There are a total of 23 competitors in the 2 markets. Details are below:
– 10 competitors in the Kenosha market
– 13 competitors in the Crystal Lakes market
– 2 competitors are in both markets; H&R Block and Jackson Hewitt.
28. PLANS FOR EXPANSION INTO CRYSTAL LAKES, IL.
Marketing, Human Resources & Budgets
29. PLANSFOREXPANSIONINTOCRYSTALLAKES,IL.
Introduction
• This section contains detailed plans to expand Expert
Tax Solutions into the Crystal Lake, Illinois market. This
area was chosen because it is the are that would be
best for the company to enter next. The plans include:
– A Marketing Plan
• Target Market
• Market Needs
• Marketing Tactics
• Overview of Marketing Budgets
• Sponsorship Suggestions
• Social Media Plan
• Website Analysis
– A Human Resources Plan
• Retail Structure
• Breakdown of Job Positions
• Outsource vs. In-house Positions
– A budget for the expansion
29
31. MARKETINGOVERVIEW&TARGETMARKET
Overview
• The marketing plan has 6 major components:
1. Sponsorship of local youth sports teams
2. Advertising via radio stations
3. Print advertising
4. Open house
5. Direct mailing campaign
6. Social media
Target Market:
• Individuals/couples 30-65
• Income >$60,000
• Those people who are tired of dealing with the
“McDonald’s” type franchise tax preparer
• Those people who don’t want to go to an “Exclusive &
Stuffy” accounting firms
With a lack of brand awareness outside of Racine and Green
Bay, Expert Tax Solutions must develop brand awareness in
Crystal Lake. The intent is to be a mid-sized tax firm that
adequately suits the tight-knit communities found in this
location. To do so, Expert Tax Solutions must take
advantage of the networking resources that may be found
through various tactics.
TOTAL 12 MONTH MARKETING BUDGET = $13,593
See Financials for Expansion Plan for a breakdown of
the budget
Market Needs & Overall Approach
For the first year, this plan will focus on 2 main objectives:
1. Build Brand Awareness. Since Expert Tax Solutions is
new to the Crystal Lake area, their brand awareness is
essentially zero.
2. Create a Strong Brand Image. Expert Tax Solutions
wants to continue their “friendly, hometown” image that
has been developed in their existing markets of Racine
and Green Bay.
The overall approach to the plan is to create 3 distinct
marketing waves, each will a different purpose:
– Wave #1 is focused on creating awareness for
Expert Tax Solutions. This wave culminates with
an Open House in the new facility. This is all
about networking and making connections in the
community.
– Wave #2 is focused on reinforcing and building
more awareness via radio, print and direct mail
campaign. It is focused on reinforcing and
building more awareness for Expert Tax
Solutions through these traditional media forms
and through social media. This wave will
continue to get the company out into the
community
– Wave #3 is focused on creating the “Friendly
Hometown” image via local sponsorship of
baseball teams & park banners.
31
32. OVERVIEWOFMARKETINGTACTICS
Overview of Marketing Tactics
Listed below is an overview about the various marketing
tactics and some rationale:
Social Media
• Social media will benefit Expert Tax Solutions by
allowing for a more interactive relationship between the
firm and its customers. In addition, using various social
media outlets will allow users to “share” pages and
information, which will serve as low-cost means of
advertisement.
Open House Event
• An open-house night of the opened locations that
allows the community to enter and experience the
atmosphere of the firm. Giveaways may also be used
as a promotional technique at this event. This will be a
great opportunity to start the networking opportunities.
Radio Advertising
• Crystal Lake heavily utilizes radio as a means of
community outreach. The station WZSR-FM STAR
105.5 and WWYW FOX 106 have sixty miles of
coverage in the Northwest suburbs of Illinois. With over
287,000 weekly listeners- many of which suit the
sought-after.
• The radio spots must be unique and reflect the brands
image of “friendly & hometown”
Direct Mail / E-Mail
• InfoUSA.com provides targeted addresses for a
relatively low cost.
• The email campaign will be predominantly run and
managed by an intern. Based on purchased lists, direct
email campaigns will keep consumers up-to-date with
offers and events hosted by Expert Tax Solutions.
Print Advertising
• The Northwest Herald is the only daily newspaper
published in McHenry County. Reaching 278,000
homes weekly, it offers a “Local Business Showcase”
section that will increase brand awareness and interest
in the community. Ranked 1st in circulation and
advertisement presentation, the newspaper also
reaches 1.2 million online monthly visitors.
The Crystal Lake Chamber of Commerce
• Provides a business network that many businesses
use. Meeting every Tuesday between 7:30 and 8:30 in
the morning, businesses convene and present one
another with referrals (the preferred method of
business for Expert Tax Solutions). With a small
annual fee of $394, referral groups will be developed.
In order to avoid competing directly with other tax firms,
there is only one business category per network group.
Sponsoring a youth sports team.
• This will allow company information to be printed on the
back of uniforms and-depending upon the specific
league- allow for signage to be placed at events.
Depending upon the level of sponsorship and the
length of time, prices of sponsoring a team may range
anywhere between $200 to $600. In addition to the
advertisement on uniforms, hosting events such as
pizza parties for the team will improve brand
awareness throughout the community.
32
33. MARKETINGTACTICS–DETAILS
Marketing Tactics – Details
October ($7,719)
• Move in new space in beginning of month.
• Hire a social media intern from a local college
– In the first year, it would be best for the position
to be unpaid. As years progress and the
marketing budget increases, hiring an intern for
pay will be more feasible.
– This should be done during May/June when
students are looking for summer internships.
• Join Crystal Lake Chamber of Commerce to begin
networking TOTAL COSTS = $394
– Estimated cost: $394 (6-15 employees) per year.
• Radio Spots TOTAL COSTS = $1,600
– Build brand awareness of Expert Tax Solutions
with a 1 week campaign that begins in late
September (may mention Open House) 4 spots
per day (2 in each drive time) = 20 spots x
$80/spot = $1,600.
• Note: Social Media Campaign costs nothing and should
be an on going endeavor. Details for the social media
campaign are found later in this section.
October (cont.)
• Hold an Open House in late October.
– Children are settled in school
– Held before the elections
– Weather is still ok.
– TOTAL COST OF EVENT + Marketing =
$5,725 (breakdown below)
• Actual Open House Event TOTAL COSTS = $1,500
– Assumes 100 guests @ $15 each for food &
drink.
– Print and direct mail campaigns will be used to
promote the Open House (details below)
– The radio spots should help to lay the foundation
by creating some brand awareness. The following
campaigns will focus more on the Open House
Event.
• Direct Mail Campaign TOTAL COSTS = $4,175
– Purchase list from InfoUSA $400
– Printing ($1.20 x 2,220 = $2,775)
– Postage ($0.45 x 2,220 = $1,000)
– Note, printing could be less depending on piece
sent
• Print Campaign TOTAL COSTS = $50
– 1 Full Page Color ad x 2 days = $50
• Based on rates similar to the Kenosha
News
33
34. MARKETINGTACTICS-DETAILS
November ($350)
• Follow-up calls/meetings with Open House guests.
• Cold calling
• Continue social media campaign
• Sponsor a winter sports team TOTAL COSTS = $300
– Crystal Lake Park District boys after school
basketball
• Print Campaign TOTAL COSTS = $50
– 1 Full Page Color ad x 2 days = $50
• Based on rates similar to the Kenosha
News
December ($0)
• Cold calling
• Activities hindered by Christmas Holiday.
January ($1,600)
• Begin 2nd wave of marketing because people are
starting to think about taxes with the beginning a new
year.
• Radio Spots TOTAL COSTS = $1,600
– Continue to build brand awareness of Expert Tax
Solutions with a 1 week campaign that begins in
late January. 4 spots per day (2 in each drive
time) = 20 spots x $80/spot = $3,200.
• Cold calling
February ($50)
• Print Campaign TOTAL COSTS = $50
– 1 Full Page Color ad x 2 days = $50
• Based on rates similar to the Kenosha
News
March ($1,844)
• Print campaign continues
• Direct mailing Campaign (if needed) TOTAL COSTS =
$1,844
– Purchase list from InfoUSA $400
– Printing ($0.20 x 2,220 = $444) (Not at deluxe are
the Open House Invite)
– Postage ($0.45 x 2,220 = $1,000)
– Note, printing could be less depending on piece
sent
• Cold calling
April ($130)
• Print Campaign TOTAL COSTS = $50
– 1 Full Page Color ad x 2 days = $50
• Based on rates similar to the Kenosha
News
• Cold calling
• Radio Spots TOTAL COSTS = $80
– Continue to build brand awareness of Expert Tax
Solutions with one independent advertisement
run during the month. (During drive time) = 1
spots x $80/spot = $80
34
Marketing Tactics – Details
35. MARKETINGTACTICS–DETAILS
May-September ($1,900)
• 3rd wave of marketing begins. Lower costs and
continuous (i.e. banners, team sponsorships…)
• This wave is focused on build a “friendly/hometown”
brand image.
• Crystal Lake Baseball TOTAL COSTS = $650
– Sponsorship of 1 Little League team
– League sponsorship
• Crystal Lake Slam Girls Fastpitch Softball TOTAL
COSTS = $750
– League/team sponsor
• Crystal Lake Park District Lippold Banner Program
TOTAL COSTS = $500
• Cold Calling
Velocity recommends an aggressive marketing budget
during the first year. In doing so, the business will experience
greater returns.
Maintaining constant ties with the community through
sponsorships and open house events will provide the added
benefit of buzz marketing throughout the community, which
will also work towards increasing foot traffic.
In allocating a large marketing budget in the first year, Expert
Tax Solutions will quickly become a part of the consumer’s
evoked set with the repetition that is being used through a
variety of mediums.
35
Marketing Tactics – Details
36. CRYSTALLAKEBASEBALLLEAGUE
Crystal Lake Baseball League
Crystal Lake Baseball (CLB) was founded in 2010 by
members of Crystal Lake National Little League with the goal
of providing a single source youth baseball organization in
Crystal Lake, Illinois. CLB is a not for profit Illinois (501c3)
corporation operating an educational baseball program run
solely by volunteers. Scholarships are available upon
request for families in need.
• The league is divided into 4 age divisions:
– Majors (ages 11-12)
– Triple A (ages 9-10)
– Double A (ages 7-8)
– Single A (Rookies ages 4-6)
• The league has approximately 25 total teams.
• Contact Steve Mok (815) 526-2337 or Megan Mok
(815) 526-2338
– May also be reached via email:
sponsorship@clbaseball.com
• Velocity recommends Expert Tax Solutions sponsor the
following items in red (right)
– 4 Team Sponsorship – one team in each division
(Total $1,600)
– Platinum League Sponsorship $1,000
– TOTAL Cost $2,600
• Sponsorship Price Packages
– Team Sponsorship: Sponsor one team at a cost
of $400 per team. The business name will be
printed on the back of team uniforms
– Banner Sponsorship: For $300, Expert Tax
Solutions will receive a 3ft x 6ft banner with
custom text and graphics that are displayed
around the baseball complex
– Team and Banner Sponsorship Combo: For
$575, both the banner and uniforms with the
sponsor name will be provided
– Silver Sponsorship: $500 will give the company
presence on the sponsor wall on the concession
stand and includes a custom banner
– Gold Sponsorship: $750 will provide all the
benefits of the silver sponsorship as well as the
company name and logo on one of the
tournament team’s banners. The banner will be
displayed at every game the team plays in
– Platinum Sponsorship: For $1000 all of the
benefits of the silver and gold sponsorships as
well as an additional tournament team banner
listening and a commemorative plaque to display
at your business
– General Scholarship Fund: Donations offered to
families that are unable to pay the full fee to play
baseball. The requested donation for a
scholarship is $150. In addition to any of the
sponsorship benefits above, al sponsors will
receive a custom logo and link to their website
on the league’s sponsor page.
• More sponsorship details may be found on their
website: http://www.clbaseball.com/sponsor
36
37. CRYSTALLAKESLAMGIRLSFASTPITCHSOFTBALL
Crystal Lake Slam Girls Fastpitch Softball
• Slam Fastpitch is a highly competitive softball
organization in the Northern Illinois area that develops
players into elite athletes and compete at the highest
level of competition.
• The organization's goal is to teach solid fundamental
softball skills by utilizing the knowledge of past and
present college players and exposing the teams to
drills and exercises used at some of the best softball
programs in the country.
• The Slam fields 3 teams in Under 10, Under 12 and
Under 14 Divisions.
• Contact Jack Gross at SlamSoftball@aol.com
• Velocity recommends Expert Tax Solutions sponsor the
following item in red (right)
– Home Run Package $750
– TOTAL Cost $750
• Sponsorship Price Packages
– Single Package: For $100, the sponsor’s name
will be listed on the team website
– Double Package: For $300, the sponsor’s name
will be featured on the team banner and the
sponsor’s name will be listed on the team
website
– Triple Package: For $500, Expert Tax Solutions
will have their name featured on a team banner,
will have their name listed on the team website,
and will receive a recognition plaque
– Home Run package: $750 or greater, the
sponsor will have their name and business logo
on team banners, will have a link dedicated to
their business website on the team’s web page,
will have the sponsor’s name listed on the team
website, and will receive a recognition plaque
• Sponsorship Commitment form may be found on their
website:
http://www.slamfastpitch.org/index.php/sponsorship/sp
onsors-form
• Velocity does not recommend in first year of operation
37
38. CRYSTALLAKECENTENNIAL
Crystal Lake Centennial
• Crystal Lake is celebrating their centennial during
2014. Several local business are sponsors. Most
notably is Miller-Verchota CPA (they are a Bronze
Sponsor - $1,00-$1,999)
• However, Velocity recommends NOT to sponsor this
event for the following reasons:
– High costs
– Limited exposure
– 1 chance sponsorship, no continuity
– The program has already started and will end in
Dec 2014.
– TOTAL Cost $0
• Bronze Sponsor: $1,000-$1,999
– Listed as Crystal Lake Centennial Bronze
Sponsor on all facility and event signage, email,
and website.
– Will receive two tickets to ticketed centennial
events
• Silver Sponsor: $2,000-$4,999
– Listed as Crystal Lake Centennial Silver Sponsor
on all facility and event signage, email, and
website.
– Will receive four tickets to ticketed centennial
events
• Gold Sponsor: $5,000-$9,999
– Listed as Crystal Lake Centennial Gold Sponsor
on all media releases, advertising, facility and
event signage, email, and website
– Will receive six tickets to ticketed centennial
events
• Presenting Sponsor: $10,000 and up
– Listed as Crystal Lake Centennial Presenting
Sponsor on all media releases, advertising,
facility and event signage, email, and website
– Will receive ten tickets to ticketed centennial
events
• Sponsorship may be tax deductible since the donation
is being made to the City of Crystal Lake
• Additional questions and informational requests may be
sent to centennial@crystallake.org
– May also be reached by phone at (815) 459-
2020, ext. 3663
• http://www.crystallake100.org/documents/sponsor.pdf
– The form will be sent to Penelope M. Johns of
the Crystal Lake Centennial Committee 38
39. CRYSTALLAKEPARKDISTRICTSPONSORSHIP
Crystal Lake Park District Sponsorship
• The Crystal Lake Park District offers several different
opportunities to provide sponsorship, including:
– The Crystal Lake Half Marathon
– Summer Concerts and Movies in the Park
– Safety Town
– Senior Programs
– The Chili Open Golf Classic
– Hound Town Halloween Bash
– Miss Crystal Lake Pageant
– Ads in the Crystal Lake Park District Brochure
– And many other opportunities
• These events attract hundreds of people in the
community and surrounding areas.
• Velocity recommends Expert Tax Solutions sponsor the
following item in red (right)
– Lippold Banner Program $500
– TOTAL Cost $500
• The district also offer the Lippold Banner Program
– The Lippold Park Boncosky Softball Complex is
a hub of softball action and extra events 7-days
a week, from April 1-December 1. During the
summer and fall, men's, women's, and co-rec
softball teams take the field and play for family,
friends, and other spectators from the community
and surrounding areas. In addition, many
community organizations utilize Lippold Park for
its certified 5K race course throughout the
competitive running season. Cost $500
• Running between January and March, the park district
sponsors youth basketball leagues for boys between
grades 4 and 6.
– The goal of the Boys After School basketball
program is to help participants develop basic
individual basketball skills and team concepts
whole having fun in a low-pressure environment.
– The program includes a 5 game season
– Team jerseys are included in sponsorship fees
• Sponsorships can be customized for a wide range of
financial contributions. For more information about
Sponsorships, call or email Jacqui Weber at (815)
459-0680, ext. 214.
39
40. CRYSTALLAKEPARKDISTRICT
Crystal Lake Park District
• The Crystal Lake Park District sponsors programs for
children year-round
• Running between January and March, the park district
sponsors youth basketball leagues for boys between
grades 4 and 6.
• The goal of the Boys After School basketball program
is to help participants develop basic individual
basketball skills and team concepts whole having fun in
a low-pressure environment.
– The program includes a 5 game season
– Team jerseys are included in sponsorship fees
For more information about Sponsorships, call or
email Jacqui Weber at (815) 459-0680, ext. 214
40
41. DIRECTMAILCAMPAIGN–MAILINGLIST
Direct Mail Campaign – Mailing List
• Demographics of mailing list from
InfoUSA.com:
– Age 30-54
– Income $100k - $500,00k
– Home Ownership
– Single Family Dwelling
– Estimated Wealth $135k - $1,85K
– Charitable Donor
– 10 mile radius around Crystal Lake
• The above demographics results in 2,179
addresses
• The cost for the mailing list is $392.22
• Note: Crystal Lake is ideally located between
the high density areas around McHenry &
Algonquin (each is ~10 miles from Crystal
Lake)
41
10 Mile Radius
from Crystal Lake
Crystal Lake
42. RADIOADVERTISING
Radio Advertising
• Here is a list of all radio
stations serving the Crystal
Lake region.
• Note: there are no radio
stations located in Crystal
Lake.
42
43. RADIOADVERTISINGWZSR-FMSTAR105.5
Radio Advertising WZSR-FM STAR 105.5
• WZSR STAR 105 (a hot adult contemporary station) is
one of the top radio stations in the Crystal Lake region
and has one of the strongest signals in the area.
• Artist on their playlist include:
– Kelly Clarkson, Pink, Jason Mraz,
– Lady Gaga, Katy Perry, Train,
– Maroon 5, Rihanna, Daughtry,
– Bruno Mars, Adele, Nickelback
– Taylor Swift & more
• The demographics seem well-matched
WZSR advertising manager quoted the following base rates
(of course everything is negotiable)
– ~$50 - $80 per 60 second spot depending on
day part.
• More information can be found at (www.star105.com)
or call: 815-459-7000
• Velocity recommends Expert Tax Solutions discuss a
radio buy with WZSR. If the buy is large enough, they
will provide additional promotional packages (i.e. live
broadcast from your location during the open house,
provide radio personalities at the open house…)
42
44. RADIOADVERTISINGWWYW-FMTHEFOX103.9
Radio Advertising WWYW-FM THE FOX 103.9
• WWYW (a Classic Rock station) is one of the top radio
stations in the Crystal Lake region and has one of the
strongest signals in the area.
• Artist on their playlist include:
– Led Zeppelin, Aerosmith, Van Halen,
– Guns N Roses, Foreigner, Pink Floyd, ZZ
– Top, Rolling Stones, Bon Jovi, The Doors,
– Def Leppard, Pearl Jam, Eric Clapton,
– Lynyrd Skynyrd , Journey, Cheap Trick,
– The Who, Boston, Tom Petty and more
• The demographics are similar to STAR. Below are
some small differences:
– WWYW has more listeners, more white collar,
better educated.
– WWYW listeners have higher income and more
intuitive business & financial knowledge.
WWYW does not post their rates. However, based on their
listenership, the rates should be similar to STAR. (~$50 - $80
per 60 second spot depending on day part)
• More information can be found at
(http://www.rockthefox.com/) or call: 815 – 459 – 7000
• Velocity recommends Expert Tax Solutions discuss a
radio buy with WWYW. If the buy is large enough, they
will provide additional promotional packages (i.e. live
broadcast from your location during the open house,
provide radio personalities at the open house…)
43
45. Northwest Herald (www.shawsuburbanmedia.com)
• Only DAILY Newspaper published in McHenry County
(Crystal Lake)
• Offers a ‘Local Business Showcase’
• 278,000 suburban households weekly
• Daily newspapers rank 1st in circulation & ad
presentation
• Online, 1.2million monthly visitors
• Community oriented
PRINTADVERTISING
Print Advertising
Overview Costs
• “You Pick” Package (buy 3 days get 1 free)
– ¼ Page Color ad x 4 days = $540
– Full page ~$650 per day
• Velocity recommends 8 days with ¼ page ads to
promote the Open House Event = $1,080
• TOTAL COST = $1,080
45
46. SOCIALMEDIAMARKETINGPLAN
Social Media Tactical Plan
Overall Goals:
• Increase awareness of Expert Tax Solutions
• Encourage consumer interaction
• Have entire team on LinkedIn
Other Notes:
• The social media plan can commence immediately since it is not directly tied
to the expansion into Crystal Lakes.
Plan for LinkedIn
• LinkedIn is a professional network where you can
connect with colleagues, other businesses, share
intellectual articles and endorse one another’s skills
• Use LinkedIn to differentiate and spotlight individual
strengths and specialty areas
• When expanding, use to find potential employees
• Post similar articles as Facebook so customers who
are not on Facebook can see the same information
• Let people know you have a LinkedIn account by:
– Including it in your email signature
– Send an email to customers inviting them to join
you
– Link with community and customer LinkedIn
accounts
– Add a link to your LinkedIn page on your website
Objective:
• Establish business page
• Create network with entire team on LinkedIn
• Post 2-3 times per month
Key Metrics:
– Number of connections
– Number of updates
46
47. SOCIALMEDIAMARKETINGPLAN
Plan for Twitter
On Twitter, success is measured by the number of
impressions and the percentage of feedback (retweets,
replies, favorites) that a tweet receives and followers that the
account receives.
Include Expert Tax Solutions’ website on Twitter profile.
Tweets are a maximum of 140 characters so make them
sound exciting and include a picture because it automatically
shows up; photos have the highest interaction rates.
Use action words to tell people what to do (retweet, follow)
Tag (@) other accounts to increase interaction and
strategically use hashtags to get more impressions.
Make sure your location is enabled and shown.
Let people know you have a Twitter account by:
– Including it in your email signature
– Send an email to previous customers inviting
them to follow you
– Follow community and customer Twitter
accounts
– Add a link to your Twitter page on your website
Objectives:
• Create Twitter handle
• Gather followers
• Post 2-3 times a week
Key Metrics:
• Followers
• Retweets
• Favorites
Plan for Facebook
On Facebook, success is measured by the number of
impressions and the percentage of feedback (comments, likes,
shares) than an update receives.
Post mostly photos, not just long texts; videos and links get low
interaction rates. Also post interesting articles relating to your
business.
Use action words to tell people what to do (share, post this on
your friend’s wall).
Share touching instances from the office or community and ask
questions so the community can share their own thoughts.
Write on community pages, get rapport going.
Let people know you have a Facebook page by:
– Including it in your email signature
– Send an email to previous customers inviting them
to like the page
– Ask community pages to promote your page on
theirs
– Invite customers to like your page
– Include Expert Tax Solutions’ website in posts.
– Add a link to your Facebook page on your website
Objectives:
• Add cover photo
• Fix profile photo
• Gather Likes
• Post 2-3 times a week
Key Metrics:
• Followers
• Retweets
• Favorites 47
48. WEBSITEANALYSIS
Website Analysis
48
• Expert Tax Solutions
has pictures on their
website that are by no
means representative of
their end goals.
• The website features
very generic nature
images. In addition,
these images are
banners at the top of the
web page
• Other Tax groups, such
as H&R Block, supply
much larger pictures that
depict professional
individuals working and
working with clients as
well as imagery related
to savings.
49. WEBSITEANALYSIS
Website Analysis
• Other websites- such as JG Tax Group
(Left)- offer verbatim recommendations from
other consumers
• Expert Tax Solutions offers nothing of the
like. To do so would make the firm appear
more credible
• The “meet our staff” portion found on the
Expert Tax Solutions website gives that
personal feel that is not found in larger
firms: Do not change. Based on the tabs
that the tax firm is interesting in having for
their page design, this syncs well.
• Other websites have sections that offer
consumers self-help tips such as better
money management. Expert Tax Solutions,
on the other hand, provides some tools-
such as calculators- under the assumption
that consumers will know how to use them.
They should incorporate some more of
those DIY links.
49
50. WEBSITEANALYSIS
Website Analysis
• Expert Tax Solutions should add links to the bottom of
their main page that lead towards social media such as
the Facebook and twitter.
• In placing their major values on the main page, Expert Tax
Solutions is providing consumers with a transparency that
many other tax firms lack. Company culture is immediately
evident, which helps draw in their target market. This
should be kept on the home page.
Additional Observations
• Lacks the professionalism that one will find on other
websites. Overall “look and feel” of the website looks as
if it came from a template.
• Much like other websites, the main page leaves close
to no room for scrolling. This is better for holding viewer
interest because it avoids providing too much
information on a single page that viewers have to filter
through
50
52. HUMANRESOURCESPLAN–INTRODUCTION
Introduction
To prepare this particular portion of the expansion plan, the
Human Resources team interviewed current employees at
the Racine, WI office to get a more detailed idea of their daily
activities and their overall role. The team also researched
existing roles at Expert Tax Solutions’ competitors to
determine similarities and differences between the roles.
The following report includes a Retail Structure Model and
equivalent position descriptions, as well as the beginning
recommendations for a corporate level office, if and when
Expert Tax Solutions reaches such level of growth.
Based on industry knowledge, human resources expertise,
and research, the following recommendations have been
made:
-Implement the following structure at the new Crystal Lake
location.
-Gradually move to a similar structure at the current Racine
and Green Bay locations to maximize efficiency and
minimize cost.
-Consider this and other corporate level model structures,
which ideally would begin forming with 3-5 retail locations
52
53. EXPERTTAXSOLUTIONSGENERALRETAILSTRUCTURE
Expert Tax Solutions General Retail Structure
Office
Manager
Senior Tax
Preparer
Tax Preparer
Seasonal
Tax Preparer
Bus. Dev. &
Client Coord
Seasonal
Client Coord
Rationale
The creation of this particular retail model is unique to Expert
Tax Solutions based on the services they offer, the roles and
duties of current employees, and researching competitor's
retail structures.
• The Office Manager is ultimately responsible for
overseeing the success of this individual location,
keeping up to date with local trends, and
communicating with the corporate office.
• The Senior Tax Preparer should be considered the
expert tax preparer. They are to be knowledgeable of
all tax practices, industry trends, and oversee and
advise Tax Preparers and Seasonal Tax Preparers.
They should also be capable of performing and
specialty tax preparations Tax Preparers are not
experienced with or qualified for.
• The Tax Preparer role is simply a less managerial
version of the Senior Tax Preparer. They perform all of
the same tax-oriented duties, but do not oversee other
employees.
• The Business Development and Client Coordinator
works in close capacity with the Office Manager to
maintain and gain new clientele, as well as assist with
administrative office duties as necessary. This is a
unique role to Expert Tax Solutions.
This Retail location can and is expected to run as an
independent business with the exception of performing legal
Human Resources functions, company-wide marketing
plans, and anything else the Corporate Office deems as a
corporate function.
53
Below is the recommended structure for the Crystal Lake
operation.
54. POSITIONTITLE:OFFICEMANAGER
Position Title: Office Manager
Static Full-Time:
Job Description:
The role of the Office Manager is to maintain a staff of 7-10
employees on a daily basis, manage day-to-day office
operations, and ensure overall performance and
expectations of employees are met. Additionally, the Office
Manager is responsible for the growth and development of
the office and employees by exemplifying excellent
leadership.
Job responsibilities include:
• Preparing necessary operational reports on daily,
monthly, quarterly, and yearly basis
• Network, recruit, assess, and hire qualified candidates
• Supervising, training, and coaching all employees
• Maintaining unique company culture and propelling
company mission and values on a daily basis
• Supervising all employees, including maintaining
working relationships with seasonal staff during off
season
• Review/reconcile daily budget, including maintaining
office payroll
• Developing professional relationships with clients and
staff
• Setting office goals and driving employee performance
to meet and exceed goals
• Maintaining expectations as put forth in employee
handbook
• Working with Business Development & Client
Coordinator to establish and maintain local marketing
• Acting as an overall knowledgeable resource for staff
and clients
• Preparing accurate and complete tax returns for clients
as needed
• Other duties as assigned
Minimum Qualifications:
EDUCATION:
Bachelor’s degree in business or other related field, OR an
equivalent combination of education and experience as
determined by hiring manager.
SKILLS AND EXPERIENCE:
• 2-3 years of supervisory or management experience in
a customer service environment
• 2-3 years of bookkeeping, tax preparation, or
accounting field experience highly encouraged
• Past demonstration of leadership skills
• Strong verbal and written communication skills and
customer service skills
• Ability to function well under stress and in a fast-paced
environment
• Past demonstration of professional flexibility
• Team player attitude as demonstrated by previous
team oriented experiences
• Strong problem solving and analytical skills, and strong
organizational skills
• Computer literate and proficient with Microsoft Office
programs
54
55. POSITIONTITLE:SENIORTAXPREPARER
Position Title: Senior Tax Preparer
Static Full-Time:
Job Description:
The role of the Senior Tax Preparer is to provide clients with
accurate and complete tax returns while utilizing a high
degree of ethics and integrity. Senior role designation
assumes the responsibility of managing and leading several
junior level tax preparers, as well as having a working
knowledge and skill set of accounting based practices.
Job responsibilities include:
• Basic tax preparation and tax planning, including but
not limited to: estate planning and succession planning
• Small Business Accounting Services, including bank
reconciliations, income statements, balance sheets,
general ledgers, and general consultations
• Communicating with IRS as necessary based on
Enrolled Agent (EA) status
• Maintaining unique company culture and propelling
company mission and values on a daily basis
• Developing professional relationships with clients and
staff
• Conducting tax research as necessary and remaining
knowledgeable and current of dynamic tax laws
• Supervising several lower level direct report tax
preparers
• Acting as a resource for clients and employees as
necessary
• Demonstrating leadership within the office setting and
inspiring a high quality work ethic
• Planning, organizing, and preparing journal entries
• Other duties as assigned
Minimum Qualifications:
EDUCATION:
Bachelor’s degree in accounting, business or other related
field, OR an equivalent combination of education and
experience as determined by hiring manager.
SKILLS AND EXPERIENCE:
• 4-5 years experience in tax industry and/or accounting
services
• Enrolled Agent (EA) Status
• Knowledge of US GAAP
• Proficiency in use of tax preparation software, tax
research, Microsoft Office, and QuickBooks
• Previous leadership/supervisory experience
• Strong verbal and written communication skills and
interpersonal skills
• Strong problem solving and analytical skills
• Ability to work independently; is self-directed, results-
oriented and demonstrates initiative
• Ability to function well under stress and in a fast-paced
environment
• Team player attitude as demonstrated by previous
team oriented experiences
•
55
56. POSITIONTITLE:BUS,DEV.&CLIENTCOORDINATOR
Position Title: Business Development & Client Coordinator
Static Part-Time:
Job Description:
The role of the Business Development & Client Coordinator
is to maintain relationships with office clientele while
marketing and recruiting for additional clientele on a regular
basis. The Business Development and Client Coordinator is
responsible for office and client management, as well as the
growth and development of the retail location sales, and in
turn, the overall business.
Job responsibilities include:
• Preparing necessary reports on daily, monthly,
quarterly, and yearly basis
• Maintaining unique company culture and propelling
company mission and values on a daily basis
• Developing professional relationships with clients and
staff
• Working with Office Manager to establish and maintain
local marketing
• Developing a secure knowledge of the client base and
local demographics
• Acting as an overall knowledgeable resource for staff
and clients
• Up keeping administrative duties as necessary,
including answering phones, maintaining schedules,
managing tax pick up/drop off and assembly, etc.
• Ensuring outstanding client and customer service
• Supporting employees on an as-needed basis with
communications, scheduling, and project work
• Other duties as assigned
Minimum Qualifications:
EDUCATION:
Associate’s degree in business or other related field, OR an
equivalent combination of education and experience as
determined by hiring manager.
SKILLS AND EXPERIENCE:
• 1-2 years of administrative and organizational
experience
• Previous experience with sales and marketing a plus
• Knowledge of marketing strategies and ability to
implement them in a local setting
• Strong verbal and written communication skills and
interpersonal skills
• Ability to function well under stress and in a fast-paced
environment
• Past demonstration of professional flexibility
• Team player attitude as demonstrated by previous
team oriented experiences
• Computer literate and proficient with Microsoft Office
programs
•
56
57. POSITIONTITLE:TAXPREPARER
Position Title: Tax Preparer
Static Full-Time:
Job Description:
The role of a Tax Preparer is to provide clients with accurate
and complete tax returns while utilizing a high degree of
ethics and integrity. Tax Preparers are also expected to
complete other tax related work as assigned, and work with
clients to provide individual guidance and advising as
necessary.
Job responsibilities include:
• Basic tax preparation and tax planning, including but
not limited to: estate planning and succession planning
• Conducting tax research as necessary and remaining
knowledgeable and current of dynamic tax laws
• Assisting Senior Tax Preparer with small business tax
projections and other small business taxation work as
necessary
• Willingness to work towards Enrolled Agent (EA) status
if requested
• Maintaining unique company culture and propelling
company mission and values on a daily basis
• Developing professional relationships with clients and
staff
• Acting as a resource for clients and employees as
necessary
• Other duties as assigned
Minimum Qualifications:
EDUCATION:
Associate’s degree in business or other related field, OR an
equivalent combination of education and experience as
determined by hiring manager.
SKILLS AND EXPERIENCE:
• 1-2 years experience in tax industry
• Proficiency in use of tax preparation software, tax
research and Microsoft Office
• Strong verbal and written communication skills and
interpersonal skills
• Strong problem solving and analytical skills
• Ability to work independently; is self-directed, results-
oriented and demonstrates initiative
• Ability to function well under stress and in a fast-paced
environment
• Team player attitude as demonstrated by previous
team oriented experiences
•
57
58. POSITIONTITLE:SEASONALTAXPREPARER
Position Title: Seasonal Tax Preparer
Seasonal Full-Time:
Job Description:
The role of a Tax Preparer is to provide clients with accurate
and complete tax returns while utilizing a high degree of
ethics and integrity. Tax Preparers are also expected to
complete other tax related work as assigned, and work with
clients to provide individual guidance and advising as
necessary.
Job responsibilities include:
• Basic tax preparation and tax planning, including but
not limited to: estate planning and succession planning
• Conducting tax research as necessary and remaining
knowledgeable and current of dynamic tax laws
• Maintaining unique company culture and propelling
company mission and values on a daily basis
• Developing professional relationships with clients and
staff
• Acting as a resource for clients and employees as
necessary
• Working efficiently and effectively to provide while-you-
wait tax preparations or drop-off tax preparations as
assigned
• Other duties as assigned
Minimum Qualifications:
EDUCATION:
Associate’s degree in business or other related field, OR an
equivalent combination of education and experience as
determined by hiring manager.
SKILLS AND EXPERIENCE:
• Proficiency in use of tax preparation software, tax
research and Microsoft Office
• Strong verbal and written communication skills and
interpersonal skills
• Strong problem solving and analytical skills
• Ability to work independently; is self-directed, results-
oriented and demonstrates initiative
• Ability to function well under stress and in a fast-paced
environment
• Team player attitude as demonstrated by previous
team oriented experiences
58
59. POSITIONTITLE:CLIENTCOORDINATOR
Position Title: Client Coordinator
Seasonal Part-Time:
Job Description:
The role of the Client Coordinator is to maintain relationships
with office clientele during the tax season while supporting
the office staff as needed. The Client Coordinator is most
responsible for office and client management.
Job responsibilities include:
• Maintaining unique company culture and propelling
company mission and values on a daily basis
• Developing professional relationships with clients and
staff
• Acting as an overall knowledgeable resource for staff
and clients
• Up keeping administrative duties as necessary,
including answering phones, maintaining schedules,
managing tax pick up/drop off and assembly, etc.
• Ensuring outstanding client and customer service
• Supporting employees on an as-needed basis with
communications, scheduling, and project work
• Other duties as assigned
Minimum Qualifications:
EDUCATION:
High school diploma or equivalent.
SKILLS AND EXPERIENCE:
• 1-2 years of administrative and organizational
experience
• Strong verbal and written communication skills and
interpersonal skills
• Ability to function well under stress and in a fast-paced
environment
• Past demonstration of professional flexibility
• Team player attitude as demonstrated by previous
team oriented experiences
• Computer literate and proficient with Microsoft Office
programs
•
59
60. RETAIL&CORPORATESTRUCTURE
Retail Level Structure Corporate Level Structure
There are many options for a corporate office structure. This is only one suggestion based on basic necessities for 3-5 retail
locations. Ideally a corporate structure would begin implementation with between 3 and 5 retail locations.
Office Managers at each location are expected to be the contact-person between corporate and each retail office. Basic,
general duties of the corporate office would include employee payroll, legal contracts, legal processing of new hires and
terminations, and company-wide marketing ventures.
60
Office
Manager
Senior Tax
Preparer
Tax Preparer
Seasonal
Tax Preparer
Bus. Dev. &
Client Coord
Seasonal
Client Coord
CEO
COO
Director – Legal
Advisement
Tax Law Specialist
Business Law
Specialist
Director- Human
Resources
Human Resources
Generalist
Payroll Specialist
Comp. & Benefits
Specialist
Director- Marketing
& Business
Development
GIS Specialist
Marketing
Specialist
CFO
Director-
Accounting &
Finance
A/R
A/P
61. HUMANRESOURCESPAYROLLFUNCTIONOUTSOURCINGBENEFITS
Outsource vs. In-house Payroll Why to Outsource
Free Up Your Time
• Payroll processing by hand is a time-consuming
process. Outsourcing payroll can free up staff time to
pursue more important value-added and revenue-
generating activities. Inc. magazine recently identified
the #1 task for small business to outsource is payroll,
along with most accounting tasks
Reduce Costs
• The direct costs of processing payroll can be greatly
reduced by working with a payroll provider. Our
research indicates that a small business with 10
employees will typically spend $2,600 per year in direct
labor costs associated with payroll.
Avoid IRS Penalties
• According to the IRS, 40 percent of small businesses
pay an average penalty of $845 per year for late or
incorrect filings and payments. Most national payroll
services provide a tax guarantee, ensuring that
customers will incur no penalties because the providers
take responsibility for penalties when they do occur. In
many instances, this cost-saving immediately justifies
outsourcing payroll
Alleviate Pain
• Manual payroll is a headache in the best case and a
nightmare in the worst case. Business owners who
outsource payroll eliminate a tiresome source of
personal pain.
Offer Direct Deposit
• Providing direct deposit is difficult if a company doesn't
use an outside payroll service. Increasingly, small
businesses recognize that employees want direct
deposit. Not having to make a trip to the bank is an
important convenience for them. More importantly for
business owners, direct deposit eliminates time-
consuming and error-prone paper handling and the
need to reconcile individual payroll checks every
month.
Avoid Technology Headaches
• A constant question for small business owners is
whether they have the latest version of their payroll
software and the most recent tax tables installed on
their computer. Using the wrong tax tables can result in
stiff penalties. Outsourcing payroll removes those
headaches and keeps payroll running smoothly
Leverage Outside Payroll Expertise
• Most business owners and controllers don't have time
to keep up with constantly changing regulations,
withholding rates, and government forms. By
outsourcing payroll, a small business can take
advantage of expertise that was previously available
only to big companies.
Avoid Payroll Knowledge Walking Out the Door
• If your bookkeeper or controller gets a new job, they
will walk out the door with their knowledge of the
payroll process and how you do it. Using an outside
service eliminates that business risk.
61
62. PAYROLLVENDORS–ANALYSIS
Payroll Vendors – Analysis
62
Overall Customer Satisfaction Rating for each Payroll program
• We compared ten different outsourcing companies and decided
to provide the data for the best rated and trusted sources, ADP
and Intuit Online Payroll +.
64. INTUITONLINEPAYROLLVSADP
Intuit Online Payroll
Payroll features
• Instant paychecks or use free direct deposit
• Federal and state payroll tax forms completed for you
(Enhanced only)
• Free support from payroll experts
• Run payroll online or on your mobile phone (iPhone and
Android)
• Built–in payroll calculator for instant tax calculations
• Electronically file and pay taxes
• Pay employees and contractors
• Email reminders
• Ability to print year–end W–2s (with Intuit Online Payroll
Enhanced version
• $25/month + $1.50/employee (10 employees)= $40.
Include Online Time Log at $3/month per employee.
• $70/month time-tracking included (10 employees)
• $40/month basic (10 employees)
• Pros: Affordable; simple setup; easier for payroll
beginners; live tech support by phone
• Cons: Fewer features than ADP RUN; no 24/7 help
ADP
• ADP has a complete program that includes more
features than Intuit Online Tax. However, most features
are not necessary for our operation at current level.
• Price is for 15 Employees ** Only price fix on website
• $284/month for 15 employees
• $341/month for 15 employees WITH time tracking
enabled.
• Pros: More employee payment methods; mobile access
for employer and employees; live 24/7 phone help
• Cons: More expensive and complex to set up than
Intuit Online Payroll
64
65. OUTSOURCINGRECOMMENDATION
Outsourcing Recommendation
What we recommend
• Intuit Online Payroll delivers what most small
businesses need: help with automating the payroll
basics. Its economical and user-friendly service is great
for anyone without prior payroll experience. RUN, by
contrast, costs much more and could improve its
documentation.
• That said, RUN is a fine choice if you have enough
money in the budget to afford its higher fees. Although
RUN offers more features for midsize companies, we
recommend Intuit Online Payroll for the majority of
small and medium-size businesses due to its ease of
use and affordability.
65
67. OVERVIEWOFADVERTISINGBUDGET
Overview of Advertising Budget
67
• The finance team goal was to develop a
marketing budget that would create a positive
return on customers.
• This is the advertising dollars spent per
customer in the last four years. Velocity
would recommend that an increase in the
total advertising dollars spent related to the
amount of revenue by 4% making a annual
budget 5%.
• From the increase budget this will help gain
new customers and increase the revenue
growth.
• The 82% growth is due to the merger of the
Green bay location.
2010 2011 2012 2013
1% 1% 1% 2%
Advertsing Dollars 4,495.90$ 2,468.77$ 5,977.63$ 11,653.23$
Spent Per Customer 5.00$ 2.47$ 5.43$ 5.83$
Marketing Budget Actual based off Revenue Recommend
2013 2000 82%
2012 1100 10%
2011 1000 11%
2010 900
Customer % Change
68. ADVERTISINGBUDGET
Future Customers
68
2015 2016 2017 2018
8% 2,587.31$ 3,248.38$ 3,401.92$ 4,764.14$
5% 4,410.19$ 5,537.02$ 5,798.73$ 8,120.70$
3% 4,366.09$ 5,481.65$ 5,740.74$ 8,039.49$
2% 5,749.59$ 7,218.63$ 7,559.82$ 10,586.99$
Marketing Budget Recommended Velocity
• Velocity was able to come up with a prediction
based on the prior knowledge of the company
growth in customers on a conservative level
and based off of Expert Tax Solutions goal of
reaching a thousands customers.
• We believe that the customers will increase at
a constant rate until around a customer base of
900.
• We recommend that Expert Tax Solutions first
year of budget of $4410.19 will be highlighted
in red below.
69. FINANCIALSTATEMENTSPROJECTIONOVER/VIEW
Financial Statements Projection Over/view
• The financial statements that follow this slide have been made forecasted based on the number of customers
• The cost per customer if based off the forecasted customers starting in 2015; 200,300,450,625,800
• The projected net income for the follow years are below.
• Due to the nature of a small business it is difficult to project common problems that can happen each year,
69
Net Other Income (1,997.26)$ (3,152.26)$ (10,376.08)$ (16,660.37)$ (21,325.27)$
Net Income (1,636.11)$ 18,170.54$ (2,066.63)$ 32,219.77$ 41,241.30$
2015 2016 2017 2018 2019
70. FUTUREEXPECTEDFINANCIALSTATEMENTS
Future Expected Financial Statements
70
2015 2016 2017 2018 2019
Ordinary Income/Expense
Income
1040.Com Income -$ -$ -$ 94.85$ 121.41$
Accounting Services -$ -$ -$ -$ -$
Payroll Prep 34.44$ 570.54$ 18,606.48$ 17,096.25$ 21,883.20$
Personal Property Tax -$ -$ 112.50$ 637.50$ 816.00$
Accounting Services - Other8,600.89$ 16,563.36$ 21,332.25$ 17,732.81$ 22,698.00$
Total Accounting Services 8,635.33$ 17,133.90$ 40,051.23$ 35,466.56$ 45,397.20$
Consulting
Tax Consulting -$ 51.00$ 343.64$ 2,403.13$ 3,076.00$
Consulting - Other -$ 225.00$ 1,744.77$ 801.56$ 1,026.00$
Total Consulting -$ 276.00$ 2,088.41$ 3,204.69$ 4,102.00$
Referral Programs -$ -$ -$ 31.25$ 40.00$
Reimbursed Expenses -$ -$ (26.59)$ -$ -$
Returned Check Charges -$ -$ 10.23$ -$ -$
Softw are Income - Drake -$ -$ 36.82$ 9.38$ 12.00$
Tax Services
Corporate Taxes 16,287.61$ 17,829.90$ 26,333.18$ 31,002.01$ 39,682.58$
Individual Taxes 44,721.38$ 86,559.62$ 105,345.78$ 116,253.13$ 148,804.00$
Tax Examinations -$ 15.00$ 122.73$ 37.50$ 48.00$
Tax Services - Other 2,225.51$ -$ -$ -$ -$
Total Tax Services 63,234.50$ 104,404.53$ 131,801.69$ 147,292.64$ 188,534.58$
Uncategorized Income -$ -$ -$ -$ -$
Total Income 71,869.84$ 121,814.43$ 173,961.78$ 186,099.36$ 238,207.18$
Cost of Goods Sold
CitiFinancial 7,129.08$ 9,617.63$ 12,833.34$ 4,440.56$ 5,683.92$
Cost of Goods Sold -$ -$ -$ -$ -$
Incorporation Fees -$ -$ 832.50$ 56.25$ 72.00$
Tax Fees and Penalties 1,063.32$ 1,242.24$ 1,556.09$ -$ -$
Tax Folders and Forms -$ -$ 925.46$ 1,141.64$ 1,461.30$
Tax Guides/Published Materials -$ -$ -$ 350.81$ 449.04$
Cost of Goods Sold - Other 2,015.57$ 300.00$ 3,329.17$ 155.52$ 199.07$
Total Cost of Goods Sold 3,078.89$ 1,542.24$ 6,643.22$ 1,704.23$ 2,181.41$
Total COGS 10,207.98$ 11,159.87$ 19,476.56$ 6,144.79$ 7,865.33$
Gross Profit 61,661.86$ 110,654.56$ 154,485.22$ 179,954.57$ 230,341.85$
76. ADDITIONALINFORMATIONABOUTGISMAPS
Additional Information about GIS maps
Locational Cannibalism-
• This map employs the use of drive-time buffer rings in order to quickly illustrate the areas which are most likely to make up
the client base, if a branch were located in each of the specified cities. It is important to note that while Kenosha is
experiencing growth and is a preferred site location, its close proximity to Racine means that the two locations would likely
pull business from each other, and the same is the case for Oak Creek. This also explicitly shows that locations closer to
the lake limit their reachable client base by nearly 50%.
Competitor’s Sales per Employee-
• These maps utilize the drive-time rings again to show the areas which the location branches would affect, now in respect
to the locations of possible competitors, which are symbolized by sales per employee. This method of symbolization will
draw attention to competitors with high sales and a potentially low number of employees, meaning that the competitor
possibly has a personal hold on the area which makes them more affective. The Illinois map shows room for newcomers,
while the Wisconsin map indicates that Milwaukee will have a great affect as a base of competitors.
Competitor’s Sales-
• Again using the drive-time rings to show affected areas by a potential location, these maps look at competitor’s sales,
without respect to employee number. Because of this, it is likely that those competitors with the highest sales, most likely
have a number of employees to attain those sales, but it may also indicate that their clientele is more upper echelon than
the target class for this project. Illinois has much competition in Chicago, but it is sparse in the north and northwest
suburbs, where the two sites are located, however, Milwaukee’s presence is seen again in the Wisconsin map, making
those two locations less than ideal.
Income Dot-
• The drive-time rings are now used to show the households in each location’s area of influence. Representing multiple
households, each dot indicates the locations of families and their income as of 2011. Since the target demographic is
families, these maps show where those families are clustered, along with their income, which is indicative of the level of
tax firm they may choose, if they use one at all. The Wisconsin map shows lower income in and around Milwaukee, which
could mean that the population does not make enough to warrant a tax firm. A lower income could indicate lower
education however, which might result in the population seeking out aid with completing their taxes. The Illinois map
shows higher income in many places, but that Crystal Lake is not as densely populated with families as its neighboring
suburbs.
76
77. ADDITIONALINFORMATIONABOUTGISMAPS
Additional Information about GIS maps
Average HH Income-
• The drive-time rings in these maps show which block groups will be included in the serviced area of the possible firm
location. Each block group is symbolized by which income bracket its average falls into, with darker block groups being
wealthier. The Illinois map shows high income that the firm is likely to draw from, aside from in Waukegan itself. The
Wisconsin map shows low income in Milwaukee and directly in Waukesha, but higher income elsewhere. The low income
and high competition in Milwaukee may mean that west of Milwaukee is not a market to break into and expect success.
Population Change-
• The drive-time rings now show the expected population change, by block group, for the year 2016. This is showing
whether the client base for each possible location is expected to shrink or to grow in the next few years, which could play
largely into the branch’s success. Crystal Lake and its surrounding area is growing rapidly, but Waukegan is losing
population, especially along the lake, which is important, considering the limitations in client base the lake already creates.
New Berlin and the outskirts of Waukesha are expected to dwindle, but the expected growth in the heart of Waukesha
might mean that an expanse to its suburbs will follow this trend.
Population Dot Density-
• These maps show the representative population in the drive-time rings, to show the size of the client base of each
location. Chicago is the main center of population in Illinois, but Waukegan and Crystal Lake are both hubs of the north
and northwest suburbs. Milwaukee again shows its influence, as the population expands to absorb the small population of
New Berlin. Waukesha stands out as a densely populated area as well, but is a satellite to the larger base of Milwaukee.
Population of Demographics-
• These maps show the areas in which the requested demographic (Age 35-65, Income $50k-100k) is most populous, along
with a 20 minute drive-time network, accurate to roads and posted speeds, to show more closely which areas would be
affected by a new location. Crystal Lake, Waukegan, and Illinois in general have more of the target demographic present
than Waukesha and New Berlin, making Illinois a more desirable market.
Shopping Center Size
• These maps bring back the drive-time rings to show affected areas, and introduce shopping centers which are indicative
of expendable income in the area. Milwaukee has a large presence yet again, but west of New Berlin is barren. The north
and northwest suburbs in Illinois have more shopping centers per location, as well as many leading into Chicago, showing
much more wealth in the area.
77
