Abe Weinzimer co-founded DCAP Insurance in 1982. It went public in 1997, and quickly became the largest chain of independent insurance franchises in New York. In 2000, Abe stepped down as company president but continued running the five offices he owned. Sales were great, but he knew he could do better.
In 2008 - as times got tougher - Abe and his partner Stu Greenvald became New York Area Developers for Instant Tax Service, the 4th largest income tax preparation firm in the country. They quickly discovered that tax preparation was a perfect complement to their insurance business.
Abe and Stu bought back DCAP insurance on May 1, 2009. They are now creating DCAP Insurance and Instant Tax Service duel entities and encouraging other local insur ance companies to do the same.
"The tax franchise is not tied to DCAP. It is available to all insurance brokerages," says Abe. "We see what it has done for our own insurance group and we are sure it will help everyone else too."
As franchisees, the partners have also been able to take advantage of the support and recognition offered by a nationwide brand. Instant Tax Service spends millions of dollars in advertising campaigns nationwide to support the growth and success of its franchisees.
"We''re currently developing a comprehensive co-branding strategy for companies like DCAP," says Greg Woryk, Vice President of Marketing at Instant Tax Service. "Co-branding allows our partner companies to cash in on their existing brand name while expanding their customer base to include Instant Tax Service customers. The cross-marketing benefit has been a win-win for everyone involved."
It''s certainly been a win-win for Abe and Stu. They currently operate 35 DCAP Insuranc e franchises and 28 Instant Tax Service franchises in the New York area.
About Instant Tax Service
Instant Tax Service is a retail income tax preparation company franchising over 1,200 locations in 34 states. Founded by Fez Ogbazion in 2000 and franchising since 2004, Instant Tax Service offers tax preparation, electronic filing, and refund anticipation loan services. For more information, visit www.instanttaxservicefranchise.com.
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