Are you considering starting your own Service Bureau but are unsure of the options available? In this post, we’ll break down the various paths you can take and the costs, advantages, and disadvantages associated with each of them.
If you choose to go directly to the Tax Software providers you typically will encounter high annual branding fees ranging from $2,500 to $10,000. Most of the providers also require you to have significant volume before they’ll even consider allowing you to become a Service Bureau.
In addition to high annual branding fees, you typically will pay “per license” meaning each time you wish to sell your software to someone there is a hard cost associated with it. This can limit your freedom to grow and adds extra expenses to your business.
You’ll also be responsible for providing tech support to your clients, meaning unless you wish to hire and train someone to provide tech support year round, you’ll either need to do it yourself or pay the Tax Software provider to do it. This fee can range between $2,500 to $6,500 annually and generally includes a limited number of calls, at which point you may be charged upwards of $13 per each additional call (regardless of the length).
Tax Software providers unfortunately offer minimal guidance or support when it comes to learning how to actually market and sell your Service Bureau software, leaving you solely with just the software and no paying clients.
Partnering With Other Service Bureaus:
While we can’t speak for all other Service Bureaus outside the Service Bureau Accelerator, typically these partnerships come with annual license fees ranging from $3,500 to $8,000 and may also charge you per license.
The majority of these Service Bureaus also add on additional fees to your clients, such as Service Bureau fees or Addon Fees, that go directly to them without you even knowing. Sometimes they even take a percentage of your Tax Preparation fees.
It’s important to note that many of these Service Bureau prioritize their own growth goals over helping you achieve yours, offering limited guidance, support, and marketing strategies. In most cases, you’ll also be required to provide your own tech support.
Partnering With Us At The Service Bureau Accelerator:
The Service Bureau Accelerator is the only program on the planet that was designed specifically to help tax professionals start and grow a successful Service Bureau. You can enroll in the program for a one-time fee of only $1,997 and never have to pay for your Custom Branded Software again.
Included in the program is technical support for you and all of your clients, and unlimited software licenses, meaning you can go out and sell your software as much as you like with no additional cost to you. In addition, you’re able to control and keep 100% of your Addon Fees, Service Bureau Fees, and Tax Preparation fees.
By joining our program, you’ll also instantly boost your revenue potential per bank product thanks to our exclusive software agreements that you’ll not find anywhere else in the industry. We also provide an entire on-demand training program that covers all aspects of how to start, manage, market and sell your Service Bureau, including weekly coaching calls and a Private Facebook Group with over 550 other members who are consistently sharing what’s working for them.
Partnering with the Service Bureau Accelerator will allow you to earn more revenue, as we do not charge yearly fees, and include technical support and provide you with unlimited licenses, reducing expenses for your business. Not only that, you’ll have 100% control of your fees and we provide the tools and training you need to actually go out and successfully grow a Service Bureau.
When it comes to becoming a Service Bureau, it’s crucial to consider the available options and their implications. Going direct to tax software providers or partnering with other Service Bureaus may seem enticing, but they often lack the support and resources necessary for sustainable growth as you have to pay annually for branding fees, licenses fees, and technical support.
If you have any further questions or would like more information about our program, feel free to reach out. We’re here to support you every step of the way.