Tax Franchises

You might have noticed that there’s a tremendous market for tax-preparation services (even in states with no personal income tax). Tax franchises offer major support for small business clients who need some way to keep their accounting, tax compliance, and regulatory affairs in order. That’s just scraping the iceberg of the many ways a franchise-based company can alleviate the struggle against the tax man.

Here are some examples of companies that do it, followed by our take on the long-term viability of opening a franchise in this market.

Selected Tax Franchises Worth Your Consideration

  1. Paramount Tax & Accounting - As their name suggests, they’re at the top of the mountain for helping small businesses clear through financial hurdles. If you have a background as a tax preparer (or even if you don’t), it’s possible to open a franchise with them and capitalize on this in-demand service. 
  2. Ledgers - They’re looking for hungry business professionals, preferably with experience, an outgoing personality, and the competitive zeal to become the best in the industry. Ledgers has a startup fee of $100,000, but for it you receive ample training in the areas of bookkeeping, accounting, payroll, taxes, and beyond.
  3. Liberty Tax - This popular tax-prep company is more than enthusiastic about expanding and bringing new partners into the mix. They boast of what they consider an “iconic brand” to go along with comparably low startup fees, less managerial overhead, and plenty of new-owner training.

Employment and Staffing Franchise Trends

You might already know that a vast portion of hiring in America involves recruiters to some extent or another. Altogether, this industry comprises about half a trillion dollars in revenue annually. Don’t forget that employment services cover everything from traditional employment selection to accounting, HR, and every other internal component that businesses prefer to outsource to a third party.

Tax Franchises: Long-Term Outlook

Two things in life are guaranteed: death and taxes. Since neither are going anywhere, it never hurts to run a business that helps the public cope with them. So, you can either open a funeral parlor or help businesses avoid audits from the IRS and other regulatory authorities.

Also, this is a worthwhile franchise market for anyone who would like to run a business without staffing for several employees. Most tax franchises consist of fewer than 10, making things much more easy to manage. Finally, even with today’s AI software for tax management, most businesses and individuals still prefer face-to-face communication when it’s time to deal with their taxes.

Franocity: Your Professional Franchise Consulting Firm

Would you like to delve deeper into the prospects of opening a new tax franchise to serve your community profitably? Then it’s time to speak to a franchise consultant and get the ball rolling on your new career.

Franocity wants to help you find a lucrative tax franchise with a reliable franchisor. We believe this could be the missing ingredient in your quest for entrepreneurial success. Contact us anytime to explore promising new franchise opportunities by calling 561-609-6200.

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