Tax Preparation Business Plan Template [Updated 2024]

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IV. Customer Analysis

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Demographic Profile of Target Market

[Company Name] will primarily serve individuals, as well as businesses and nonprofits. These clients are segmented by adjusted gross income, or tax bracket:

  • Individuals with income between $30,000 and $75,000
  • Individuals with income of $75,000 and up
  • Businesses
  • Nonprofit organizations, government agencies, and other

The following numbers of businesses operate within 25 miles of our headquarters:

Total Businesses38,124
Forestry, Fishing, Hunting, and Agriculture Support0.29%
Wholesale Trade5.62%
Retail Trade14.54%
Transportation and Warehousing2.83%
Finance and Insurance6.56%
Real Estate and Rental and Leasing4.75%
Professional, Scientific and Technical Services11.36%
Management of Companies and Enterprises0.69%
Admin, Support, Waste Mgt, Remediation Services5.15%
Educational Services1.20%
Health Care and Social Assistance10.80%
Arts, Entertainment and Recreation1.66%
Accommodation and Food Services8.59%
Other Services (Except Public Administration)9.78%

Customer Segmentation

The Company will primarily target the following customer segments:

  • Individuals with income from $30,000 to $74,999: this is the group most likely to use industry services. A high proportion of families in this range have the technical knowledge and education to do their own taxes, but many opt for industry services to guarantee accuracy and maximize their chances of a refund.
  • Individuals with income of $74,999 or more: this segment is more likely to have complicated taxes, with factors such as home ownership and investment income.
  • Businesses: small businesses are more likely to use tax preparation services than large corporations, as large corporations tend to use accounting services for tax prep along with a wider range of financial services.
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