Accountants can learn a lot from retail tax franchises

The first thing that jumps out at you if you look closely at a franchise model? Well, if you understand the industry in which the franchisor and franchisees operate, you see that these guys do a way better job of designing profitable products and services than their non-franchise competitors.
— Steve Nelson

Steve Nelson over at Evergreen Small Business has written an interesting blog post analyzing the positives of a franchise model such as Liberty Tax's. Even if you consider your business to be the complete opposite of a franchise model, there's plenty to be learned from franchises about how to...

  • design products for maximum profit;
  • document and implement best practices, and;
  • leverage big data to best allocate resources.

I particularly like the bit about how Liberty Tax offers a free tax course — from which they recruit the best students to work for Liberty Tax! Absolutely brilliant.

Read the article here: Lessons from Liberty Tax Service, Part 1