Joana Rivera DBA Toro Taxes | Application Preview
Joana Rivera, operating as Toro Taxes, is seeking government grant funding to cover the remaining balance on her franchise. The funding will help her refocus the business towards sales, marketing, and consulting with higher-paying small business clients. She plans to hire 1-2 employees to streamline operations, allowing her to attract new clients more effectively. Joana aims to expand her client base from 150 to 300-400, targeting a gross annual revenue of $200,000.
Joana emphasizes her deep commitment to financial literacy and entrepreneurship in the community. As a tax professional, she connects personally with her clients, helping them understand their financial situations, tax obligations, and the importance of financial planning. Her goal is to promote fiscal responsibility and enhance the economic well-being of her clients, which she believes contributes positively to the local economy. Despite successfully running her business for five years, Joana is experiencing challenges post-pandemic and is seeking financial assistance to sustain her operations.
In terms of competition, her main rivals are H&R Block, Jackson Hewitt, and Liberty Tax. While acknowledging their expertise, Joana positions Toro Taxes as a minority-owned franchise that serves the Latino community and aims for broader recognition across diverse demographics. Her competitive advantage lies in her personal approach to client relationships, fostering genuine connections that drive better financial outcomes. By prioritizing quality and community networking over high-volume transactions, Joana strives to differentiate her business in a crowded market.
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General Information
Business Registration Number: 111111
Location: Denver, CO, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: Less than $100k
Open to Loans: YES
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Funding Usage
I would like to pay the remaining balance of my franchise
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Business Plan
My plan to grow my business is to begin shifting my focus on sales and marketing and consulting with higher paying small business owners. I would like to hire 1-2 employees to focus on operations. I find myself not being able to focus on bringing new clients in because I am currently a single business owner who also operates as a tax preparer and bookkeeper. I know I can scale my business and grow from 150 clients to 300-400 clients for a gross yearly revenue of $200,000. I am a tax professional with a deep passion for my work and promoting entrepreneurship and financial literacy in the community. When I prepare a return or financial statements, as a small business owner myself, I relate to my clients and take a personal interest in the financial success of their businesses and their personal finances. I want my clients and their families to be tax smart and financially healthy and to improve their relationship with money and understand the tax code and the importance of their financial statements. I truly understand what financial security and financial peace means for families. Through my consultations and my interpersonal approach I feel I am contributing to the improvement of our local economy because my clients demonstrate the ability to apply these wealth principles and best practices to improve their finances. They are better borrowers for home loans and great candidates for business funding. They learn that paying taxes doesn’t have to be such a painful experience if a plan and budget is put into place and you can anticipate and save for your future obligations. They become more fiscally responsible and better consumers. I have managed to start and keep my business running for 5 years with just my boot straps. However I’ve found myself on hard times post pandemic due to my health and in need of some financial help. I do feel my business makes a difference to the community and this grant would allow me to continue to help people.
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Self Identified Competition
I would say my top 3 competitors are H&R Block, Jackson Hewitt, and Liberty Tax. They are all very good at what they do and are experts in the industry. I study them closely because I would love to reach the level of success they have. Toro Taxes is a minority owned franchise with many bilingual and minority franchisees and we are heavily marketed to the latino community. I would love to continue to grow with the franchise and expand the brand to all communities and be recognized among the top franchises in the nation. I feel what separates my business from not only my top competitors mentioned before but I would say even fellow franchisees is my calling to connect with my clients and provide solutions through networking. High volume producers are limited to turning over as many files as they can and sometimes it can compromise quality. Many of my referral partners receive business from me in return because as a community of financial processionals, we can do more for our clients if we ask and listen and are willing to understand the other areas of finance. I know every single one of my clients by first name and I know what they do for work and what their long term goals are. They are real connections and not just a number or file across my desk.
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Contact Applicant
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