Listen and subscribe to Money Making Conversations on iHeartRadio, Apple Podcasts, Spotify, www.moneymakingconversations.com/subscribe/ or wherever you listen to podcasts. New Money Making Conversations episodes drop daily. I want to alert you, so you don’t miss out on expert analysis and insider perspectives from my guests who provide tips that can help you uplift the community, improve your financial planning, motivation, or advice on how to be a successful entrepreneur. Keep winning!
Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed Mowbray and Cherina Rowand
Co-founders of The Rowand Group and One Stop Taxes, the largest Black-owned virtual tax preparation service in America. The interview highlights their business evolution, scaling strategies, community impact, and the creation of the Black Tax Festival.
🧭 Interview Outline 1. Background & Origins
- Both from Memphis, Tennessee; met in high school.
- Started tax preparation in 2010 as a mom-and-pop operation.
- Transitioned from brick-and-mortar to virtual model by 2015.
2. Business Philosophy
- Entrepreneurship is defined as service to others.
- Mowbray is the visionary; Cherina is the implementer.
- Emphasis on scaling with structure: legal, accounting, HR.
3. One Stop Taxes
- Grew from a single office to over 1,000 virtual franchise locations.
- Offers free training, no startup costs, and shared revenue model.
- Built a platform allowing clients to submit documents and sign remotely.
4. Virtual Tax Model
- Designed for convenience and accessibility.
- Clients and tax preparers never need to meet in person.
- Platform includes document upload, e-signature, and cloud storage.
5. Franchise & Training
- Learning Management System (LMS) for onboarding.
- Training includes tax prep, customer acquisition, and platform use.
- Strategic partnerships with local businesses (e.g., dealerships, daycares).
6. Black Tax Festival
- Annual event held in Atlanta
- Combines networking, education, and recognition.
- Includes IRS updates, business workshops, and the Titan Awards.
- Open to all entrepreneurs, not just tax professionals.
7. Expansion & Diversification
- Own restaurants in Memphis and the Dominican Republic.
- Franchised Fat Tuesday and Esco Restaurant (did \$1M in first 6 weeks).
- Own a yacht for rental experiences in the DR.
- Plans to develop a restaurant strip near FedExForum in Memphis.
💡 Key Takeaways
- Vision + Execution = Growth: Their complementary roles fuel business success.
- Virtual is Scalable: Transitioning to virtual allowed exponential growth.
- Community Impact Matters: Black Tax Festival fosters education and recognition.
- Diversification is Strategic: Restaurants and real estate expand their brand.
- Mentorship & Learning: They study successful entrepreneurs like Tilman Fertitta.
- Faith & Family Drive: Their journey is rooted in love, planning, and purpose.
🗣️ Notable Quotes
- “Entrepreneurship means being a servant to other people.”
- “The same thing that works at \$1M doesn’t work at \$15M.”
- “We had to fire ourselves from some jobs and hire professionals.”
- “We built a platform where you can do taxes from your couch.”
- “We started before social media—we know belly-to-belly marketing.”
- “Recognition matters—people don’t get it at home or work.”
- “We’re trying to bridge the wealth gap through proper paperwork.”
- “We bought a yacht in the Dominican Republic to rent for experiences.”
#SHMS #STRAW #BEST
Support the show: https://www.steveharveyfm.com/
See omnystudio.com/listener for privacy information.
