Home – New Forums Tell me straight… Online business tax

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  • #996312
    Fionao
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    I already have a successfully tax business. However I am exploring having a totally online offering for small business. It would be suited to online businesses and other businesses who prefer to work with professionals online rather than face to face. It would nvolve a monthly fee to include BAS, financial statements and tax return work as a starting point with other services available as needed. Is this a service that you would consider? Or am I barking up the wrong tree??
    Thank you in advance for your opinions…

    #1206730
    Peter – FS Administrator
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    Hi Fiona,

    An interesting idea! The concept of monthly payments/subscriptions for services seems to be something that is getting more popular. Driven by software but now with added services like support, advice, coaching etc.

    I can see how having recurring online-only revenue would be a great model for your business.

    But the question I would have as a potential client is why it benefits me? Is it cheaper/faster/easier? Or does it give me access to high-level advice at a small business fee?

    While a lot of people see tax time as a once a year type proposition they might be open to an ongoing service if the business benefits stacked up.

    Intereresting idea. Others may have thoughts on this too??
    Cheers, Peter

    #1206731
    bb1
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    My question as a potential client is what do I get?
    Am I limited to how much help I can get?
    Can I get support twice a month r twice a day?

    It all comes back to a benefits analysis as a client.

    I find all the business’s offering subscription services aren’t really stacked towards the clients, more just to create a revenue stream, not to provide services.

    #1206732
    Fionao
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    Thanks, I really appreciate the feedback. As accountants we are being encouraged by our professional bodies and advisors to the profession to move to a monthly subscription type service. To date I have resisted as I have the same concerns about the perception of cash for nothing.
    Peter, the pricing would be lower than you would pay for a traditional service and would be based on the a couple of different levels of service required.
    Bert, benefits of the service will be convenience, speed of service and email advice on demand for short advice requirements included within the pricing.
    Perhaps a pricing model that gives clients the option of either fee for service or monthly sub?

    #1206733
    bb1
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    Fionao, post: 245936, member: 94433 wrote:
    benefits of the service will be convenience, speed of service and email advice on demand for short advice requirements included within the pricing.
    ?

    And you want me to sign up for a monthly subscription for that, sorry that tells me nothing. You need to seel the benefits of me handing you a fixed amount of $’s per month. I currently get the same for a one of yearly fee, sell what you are offering, not just some high level words.

    #1206734
    James Millar
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    My thoughts are that a monthly subscription is just a payment cycle. It doesn’t change the service or value being offered to the client. If the upside to the client is cash flow management (monthly payments instead of lump sum annual) then you need to figure out whether they are prepaying for the 12 months before you do the first cycle of work. Or are you extending them terms by completing the work now and letting them pay over 12 months?

    The online / offline mix of communication doesn’t really change the offering either. Its just a method of communicating that suits some more than others. If anything a greater online mix would drive the total cost down.

    Helping build better businesses and better lives with expert financial and taxation advice. [email protected] www.360partners.com.au 03 9005 4900
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