V. Competitive Analysis
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Direct & Indirect Competitors
The following businesses are located within a 30-mile radius of [Company Name], thus providing either direct or indirect competition for customers:
Young & Mitchell
Founded in the 1930’s, Young & Mitchell has intentionally remained a small business so that the core group of professionals within the company could get to intimately know each one of their clients. The company is one of the leading tax firms in the Four State Region and offers financial guides and tax tools for individuals for free. Listed below is an outline of the services that the company offers according to their website:
- Tax Preparation and Planning Services
- Assurance and Advisory Services
- Estate and Trust Planning and Tax Preparation
- IRS Representation
- Accounting Services
- Audits, Reviews, and Compilation
- QuickBooks Accounting Help and Assistance
- Entity Selection and Restructuring
- Payroll Services
A Plus General Bookkeeping Services
A Plus General Bookkeeping Services is a bookkeeping firm that specializes in financial strategy and consulting for businesses of all sizes. The firm has been in business for over a decade and has acquired a loyal client base.
Clients may work with accountants in person, over the phone, through email, on video conferencing software, or completely through a new digital application. Although this firm has an excellent track record for service, it is also the most expensive bookkeeping company on the market.
Smith Brothers Accounting
Established in 1974, Smith Brothers Accounting is a privately held Accountant practice that offers a wide variety of financial services including tax planning and preparation, payroll processing, financial planning and small business accounting. Smith Brothers Accounting serves individuals and businesses.
Smith Brothers Accounting Services:
- Business Services
- Tax Services
- Individual Services
- Notary Services
[Company Name] enjoys several advantages over its competitors. Those advantages include:
- Location: [Company Name] is centrally-located in the community, which provides ease of access for clients. The firm’s office will be located between the retail and business districts, making it accessible to a larger customer base.
- Competitive pricing: [Company Name]’s pricing is more affordable than its closest competitors.
- Management: The management team has years of accounting experience that allows the Company to market to and serve clients in a much more sophisticated manner than competitors.
- Relationships: Having lived in the community for over 25 years, [Founder’s Name] knows all of the local leaders, newspapers, and other influencers. As such, it will be relatively easy for [Company Name] to build brand awareness and an initial customer base.