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Back in college, I took a tax course from H&R Block (NYSE: HRB). It was a great learning experience – and also meant I could earn some extra bucks (at least during the first quarter of the year).
Well, even though the web has become a competitive threat for tax preparers -- such as from Intuit (NASDAQ: INTU) -- there is still lots of opportunity for the human touch. After all, the U.S. tax system always seems to get more complicated (especially lately). In fact, with the incoming Obama Administration, there are some new deductions and credits, so it's a good idea to have a pro help out.
OK, so how well is the tax prep business faring? For the most part, the past year has been strong. According to a new report from BizEquity, which is a business valuation website, the values of tax prep firms has increased 9%, based on a sample of 35,000 companies. Also, some cities posted standout performances, like Columbus, Ohio (+33%), San Antonio, Texas (+28%) and Chicago, Illinois (+20%).
In other words, if you're looking for a business to start, tax prep is definitely worth exploring.
Tom Taulli is the author of various books, including The Complete M&A Handbook
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