Improving Your Tax Business Cash Flow
Maintaining a secure line of cash-flow is integral for businesses trying to grow. Specifically, since the majority of tax-season really occurs over about a 3-4 month period, tax-prep businesses can see a major reduction in cash-flow during the ‘off-season’. ERO advances help tax prep businesses improve cash flow during the off-season, and can elevate your tax practice to the next level.
A sustainable cash-flow is important for a variety of reasons. Running a business is seldom repetitive. Every day, week, month, and year brings about new challenges and new hurdles to clear. Having an accessible, and liquid, cash-flow can help tax-professionals manage their everyday obstacles even outside of peak tax-season.
Additionally, while peak tax-season occurs between March and June (or so), the optimal time to invest in marketing is, well, year round. Having a liquid cash-flow during the off-season allows businesses to continuously invest in marketing to attract new clients, recapture existing clients, and really dominate a niche-market.
Understanding an ERO Advance
An ERO advance is a loan that then gets repaid through a daily fee deduction during tax-prep season. Because of the pay-back method, ERO advances are incredibly practical investments for tax-professionals looking to elevate their business, while maintaining profitability and a sustainable cash-flow.
At Refundo, ERO advances are easier than ever. After signing up, a client can simply navigate to their dashboard, begin by applying for an advance in a few clicks, and get your results quickly. With Refundo, the application process is streamlined, and so is the delivery.
After applying, and being approved, Refundo will deposit the ERO advance directly into your bank account by the next business day. Prioritizing your time, the professionals at Refundo are dedicated to streamlining processes whenever and wherever they can, while always delivering top-notch service, and products to help you grow your business.
Benefits of an ERO Advance
ERO advances improve cash-flow which allows tax-prep businesses to keep up with the many costs of running a business. Not to mention, the unexpected obstacles that spring up out of nowhere.
However, the real benefits from an ERO advance stem not from the loan itself, but what the tax-professional does with that loan. The strategic use of an ERO advance can springboard a tax-office into a more prosperous position.
After achieving an improved cash-flow through an ERO advance, tax-prep professionals can use the funds in a variety of ways to propel business and grow their tax-office.
Brand awareness is a direct result of marketing, and it’s an important aspect in finding, and gaining, new clients.
As touched on earlier, year-round marketing is important to capturing new clients, as well as maintaining the existing book of business. Using an ERO advance to invest in marketing efforts during the ‘off-season’ for taxes, helps supplement a firm's marketing strategy and maintain brand awareness. If customers don’t know your brand exists, they can’t come to you for goods or services.
Investing in business assets, professional education, and industry assets (like technology and software) are all great ways to utilize an ERO advance that builds value into your tax-prep office.
Once a tax-office has grown to a certain extent, it makes sense to bring in extra man-power. Hiring employees can save you loads of time and energy during the tax-prep season. However, payroll can be a hefty burden on cash-flow. Using an ERO advance to cover some of the expenses created by payroll is another great way to keep your tax-prep office functioning at a high level, with plenty of growth opportunities.
Elevate your Tax Practice with ERO Advances
The ERO advance program from Refundo is simple, easy to use, user friendly, and streamlined. ERO advances can elevate your tax-practice to the next level with an improved cash-flow year-round.
There are many benefits to implementing an ERO advance into your business and growth strategy. From supplementing marketing budgets, to covering payroll during the off-season, ERO advances can help you achieve your highest targets.
Refundo is your tax-prep office one-stop-shop for all of the tax-software and tax-tech you need. As your financial partner, and advocate, Refundo does everything they can to help you achieve the success of which you’ve always dreamed