A licensed CPA with a Master’s degree in taxation, Ronnie Davis found herself before an opportunity: the chance to open her own tax preparation business. Although she had owned her own business before, she felt that she had a valuable service to offer that would help individuals and small businesses achieve their financial goals. She decided to believe in herself and take the plunge.
In 2015, Ronnie started Q3 Business & Tax Academy D/B/A Jackson Hewitt Tax Services. When she was ready to expand by purchasing a Jackson Hewitt franchise, she found it difficult to obtain a loan from a bank. Her loan officer introduced her to Carolina Small Business, where she was able to obtain the capital needed to purchase the franchise. It also allowed her to employ one full-time employee, and four additional employees during tax season. Ronnie sees the employment opportunities she offers as more than just a job—she is helping to provide tools and trainings to her employees for their future careers. Ronnie stands by her services, and even as she adapts her business to meet the changing needs of her clients, she maintains a strong core of integrity. Her philosophy is, “we go the extra mile.”
We talked to Ronnie and this is what she had to say about opening her business, the challenges she encountered along the way and where she sees her business going in the upcoming year!
CSBDF: Where do you see your business going in the next five years?
Ronnie: There are two components to where I see my business in the next five years. First, I want to expand my territory with Jackson Hewitt and get another franchise. I have attached my vision to where Jackson Hewitt is going, which I believe is a strong brand name and progressive franchise. Second, I would like to train others by developing a tax school so the vision of helping others achieve their ultimate financial goals can still live on in individuals and well as small businesses.
CSBDF: How do you define success in your life?
Ronnie: I define success as knowing God, growing to my maximum potential, and sowing seeds that will benefit others.
CSBDF: What is your inspiration?
Ronnie: I’m inspired by my belief in God, my family, friends and mentors and organizations like the support center that encourage leadership as a entrepreneurship and financial support to fulfill a dreams.
CSBDF: How did you hear about Carolina Small Business? How have we helped?
Ronnie: I was introduced to Carolina Small Business by a loan officer at a bank, whom I had initially turned to for financing. I was not able to qualify for a loan from the bank because the amount I desired was not big enough. The bank only gave loans of $250,000 however the banker referred me to Carolina Small Business. Getting a loan from Carolina Small Business allowed me to expand my tax services. Getting the loan meant I could employ myself, hire one full time employee, and 4 temporary employees during tax season.
Give a man a fish he eats for a day, teach a man to fish he eat for life, I believe that my employees are learning a most valuable skill because they are obtaining the tools and preparation for a career in taxation. They can advance to become an Enrolled Agents that can represent clients before the IRS the same as an Attorney or CPA. This is a profession that can be passed on to other generations or sold for a profit.
CSBDF: What were the most difficult issues you faced?
Ronnie: The most difficult issues, that I’ve faced and are facing is finding the right person for the right positions, secondly after being an employee for so many years the challenges for all aspects of the business—marketing, employees, finances, etc. at time can be overwhelming . Thirdly, there is the changing of the times in areas of communications using social media outlets such as Facebook and Twitter to connect with clients. That’s why it’s beneficial, if you can afford it, to connect to others who can help you and practice their skills well.
CSBDF: Anything else you’d like to share?
Ronnie: As you grow, things change and your method has to change. People’s needs change. So you have to change to meet the needs of the individuals you serve. In business, you have to be able to change with the times, but always maintain a core of integrity and stand behind your product. My philosophy is, we go the extra mile.
“ As you grow, things change and your method has to change. People’s needs change. So you have to change to meet the needs of the individuals you serve. In business, you have to be able to change with the times, but always maintain a core of integrity and stand behind your product. My philosophy is, we go the extra mile. ” - Ronnie Davis