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There has never been a better time to start a tax franchise in the United States. As the old saying goes, the only thing guaranteed in life is death and taxes. This type of business is recession proof.
The bread and butter function of a tax franchise is tax preparation. However, there are many more services a tax franchise can offer, such as loans, bookkeeping, credit repair and tax debt resolution. In many cases, the customers will make the first contact with the tax franchise business during tax season and then decide to continue with other services once tax season is over. Examples of tax franchises are Liberty Tax, H&R Block and Jackson Hewitt Tax Service.
One of the biggest benefits of starting a tax franchise is it is easy to do! Tax franchises can be started without a big office or a giant IT network. You do not have to be a college graduate, be good in math, or have a CPA background to start a tax franchise business.
Tax franchises can be very lucrative. Many tax franchise owners make between $30,000 -$100,000 in 90 days or less and some do it while working from home or being mobile. Some people opt to operate their tax franchise as a side-hustle while others run their business as their main source of income.
Additional benefits of owning a tax franchise include:
To give you an idea of how much it cost to open and operate a tax franchise, we took a look at Liberty Tax franchise. Here is a breakdown of the fees for Liberty Tax:
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