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Liberty Tax Swot Analysis

1803 words - 8 pages

Liberty Tax
Service
S.W.O.T
Analysis

By: Lorne Wright
Term: Winter
Professor: Fairbrother

Introduction
Liberty Tax Service is a United States based business that specialize in the preparation of tax returns for both individuals and businesses. It originated in Canada in September 1997, when the Chief Executive Officer (CEO) John Hewitt acquired a Canadian tax franchisor, U& R Tax Depot. In 1998, the company became known as Liberty Tax Service and opened five offices in the U.S. The founder and CEO, Hewitt is nationally recognized within the tax industry. He is considered a veteran for his forty-four tax seasons of experience, founder of two top tax preparation firms, and ...view middle of the document...

A knowledgeable tax preparer ensures clients that they will receive the maximum amount entitled to them by tax law.
Liberty has the advantage of being located in the rural area of Brooklyn, were people who need the services most. Because of the ease with which people can access the organization, this makes it an advantage for the organization as it can serve more people in the poor community. The location of the offices near the communities is important because the organizations aim is to offer accounting and taxation services to Americans who suffer financial disparities. Liberty offers students who are pursuing a career as an accounting professional the opportunity to volunteer for the tax season. This is critical because students who volunteer for the organization have the ability to learn from experienced professionals.
Weakness
The weakness of this organization is lower management. While the manager of this office is very knowledgeable about tax laws, she lacks the management and leadership skills needed for this office to live up to its full potential. This in turn can hurt the company bottom- line because prior and potential clients, she is viewed as the face of the business. Clients expect her to be both knowledgeable and professional while handling their finances. And anything that is viewed as to be outside of the norm of the way an average tax office is ran may have clients thinking that the office partake in fraudulent services. This in turn can either attract the wrong kind of clientele or have prior clients running to the competitors.
Another weakness of the organization is lack of bank products. All of its competitors have an agreement with a bank which allows them to offer their clients a variety of payment options as well as refund options. Banking products not only allow the client to pay their obligation for services rendered by the tax firm, but it also allows clients to receive their refund quicker by allowing them to take a loan against their refund for a small fee. This is considered a weakness because some individuals do not have privilege of waiting seven to twenty-one day to receive their refund. Some clients need their fund as soon as possible to cover current obligations.
Their dressed code is another weakness against this organization. As a growing professional I’ve learned that looking the part is a major factor of any working professional. At this organization the dressed code is to slack. Knowing the tax laws is no longer enough. A professional needs to look the part as well as be knowledgeable. Their dress code creates a first impression that send a lot of potential clientele’s running for the hills.
Opportunities
Several opportunities may help liberty to meet its objectives. The organization targets both the working and non-working class. Opening more offices in neighborhoods of low income is an opportunity that if well exploited may yield more funds for the organizations. The working class people...

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