Swot Analysis
Colbert Ball Tax Service is an income tax preparation company that was established in 1995 by two college seniors that were cousins in Houston, TX. With great success by 2002 the company began franchising and went from one location to over 320 in 23 states. The company has grown tremendously and with a customer based strategy they have been successful with reaching performance goals and increasing franchise owners. (Huff, 2013) has attributed. Colbert Ball is currently experiencing litigation from franchisees, IRS audits/investigations and customer complaints and dissatisfaction. In my SWOT analysis it identifies the critical elements for this organization to focus on.
Strengths (Internal)
-Has an 18 year track record and experience in the business
-Ranked 25th fastest growing franchise
-Over 320 franchise locations in over 23 states
-Trusted reputation,
-Large market share in TX & strong brand recognition
Weaknesses (Internal)
-Organization has grown but no departmentalization has occurred (everything still being handled by owners instead of hiring specialist/professional for those roles)
-IRS audits (means company tax prep being scrutinized)
-Dissatisfaction from customers has increased
Opportunities (external)
-Experience in business means knowledge and resources to be the industry leader
-Fast growing franchise means that it’s profitable for franchisees to continue to invest
Trusted reputation and market share gives company more room for continued growth
Threats (External)
-Need to hire business manager & human resource manager to organize business processes efficiently (this will alleviate individuals doing too many tasks unrelated to their current role)
-Potential loss of market share and client base if audits continue
-Loss of revenue and franchisees if policies and practices aren’t streamlined and fair
A SWOT analysis is a tool used for audit and analysis of the overall strategic position of a business. The purpose is to
Strengths (Internal)
-Has an 18 year track record and experience in the business
-Ranked 25th fastest growing franchise
-Over 320 franchise locations in over 23 states
-Trusted reputation,
-Large market share in TX & strong brand recognition
Weaknesses (Internal)
-Organization has grown but no departmentalization has occurred (everything still being handled by owners instead of hiring specialist/professional for those roles)
-IRS audits (means company tax prep being scrutinized)
-Dissatisfaction from customers has increased
Opportunities (external)
-Experience in business means knowledge and resources to be the industry leader
-Fast growing franchise means that it’s profitable for franchisees to continue to invest
Trusted reputation and market share gives company more room for continued growth
Threats (External)
-Need to hire business manager & human resource manager to organize business processes efficiently (this will alleviate individuals doing too many tasks unrelated to their current role)
-Potential loss of market share and client base if audits continue
-Loss of revenue and franchisees if policies and practices aren’t streamlined and fair
A SWOT analysis is a tool used for audit and analysis of the overall strategic position of a business. The purpose is to