Did you get a tax refund this year? It’s tempting to spend your tax refund on a vacation or buy the latest gadget, but you may want to consider investing your tax refund in a long-term solution like a new business endeavor. Take control of your future. Here are four steps to maximize your tax refund and help you successfully invest your tax refund into the right business.
- Take Stock Of Yourself
Ask yourself the following questions to help you determine the best way to maximize your tax refund.
- What are your passions?
- What are your skills?
- How much money can you invest?
Asking these types of questions will help you focus on the areas that will guide you to the right business decision.
- Research Your Options
Look online at possible business endeavors. Seek out and speak with people in the industries that are most attractive to you. Seek local assistance from the Small Business Agency or Score.
- Evaluate the Industry
Once you narrow down the industry that is of interest, evaluate whether there is growth opportunity. Read articles, white papers, and look at industry trends, as well as businesses that currently exist.
- Weigh the Pros and Cons
Consider the following pros and cons to investing your tax refund in a new business endeavor:
- Cost vs Growth
- Do you want to work from home or have a physical location
- Do you want to start a business from scratch or buy a proven model
- Competition vs the need
According to IBISWorld’s Janitorial Services market research report published in August 2016, the janitorial services industry presents ongoing growth opportunity. If you have an interest in owning a commercial cleaning company, contact a locally owned Vanguard Cleaning Systems Master Franchise regional office to discuss an opportunity become your own boss. The Janitorial Franchise owner can get started with a relatively low initial investment, manage risk by controlling the timing and growth of their business, and ultimately build a significant independent janitorial business.
About the Vanguard Cleaning Systems Brand:
The Vanguard Cleaning Systems organization is built upon over 3,000 independently owned and operated franchised commercial cleaning businesses, which are licensed and supported by a Master Franchise network of 53 independent regional offices throughout North America. Vanguard® franchised commercial cleaning businesses service more than 15,000 businesses, healthcare companies, educational facilities, and non-profit organizations.