Jackson Hewitt Tax Service vs Econotax Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of Jackson Hewitt Tax Service vs Econotax including start-up costs and fees, business experience requirements, training & support and financing options.

Start-Up Costs and Fees
 
Jackson Hewitt Tax Service Franchise
Econotax Franchise
Investment $45,130 - $110,255$15,400 - $33,000
Franchise Fee $15,000 - $25,000$10,000
Royalty Fee 15% - 5%12%
Advertising Fee 6%-
Year Founded 19601965
Year Franchised 19861968
Term Of Agreement 10 years5 years
Term Of Agreement 10 years5 years
Renewal Fee --


Business Experience Requirements
 
Jackson Hewitt Tax Service Franchise
Econotax Franchise
Experience -
  • General business experience
  • Customer service experience, computer skills
    		•

    Financing Options
     
    Jackson Hewitt Tax Service Franchise
    Econotax Franchise
      In-House/3rd PartyIn-House/3rd Party
    Franchise Fees Yes/NoYes/No
    Start-up Costs No/NoNo/No
    Equipment No/NoNo/No
    Inventory No/YesNo/No
    Receivables No/NoNo/No
    Payroll No/NoNo/No

    Training & Support
     
    Jackson Hewitt Tax Service Franchise
    Econotax Franchise
    Training On-The-Job Training: 14 hours Classroom Training: 35 hours Additional Training: At Technology Headquarters (Sarasota, Fla.) Continuing education seminars
    Support Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform Meetings, Toll-free phone line, Internet
    Marketing Co-op Advertising Ad Templates National Media Regional Advertising Social media SEO Email marketing Loyalty program/appCo-op advertising, Ad slicks, Regional advertising
    Operations 83% of all franchisees own more than one unit

    Absentee ownership of franchise is allowed. (90% of current franchisees are owner/operators)

    		 50% of all franchisees own more than one unit

    Number of employees needed to run franchised unit: 3

    Absentee ownership of franchise is NOT allowed. (100% of current franchisees are owner/operators)

    Expansion Plans
     
    Jackson Hewitt Tax Service Franchise
    Econotax Franchise
    US Expansion Yes-
    Canada Expansion NoNo
    International Expansion NoNo

    Company Overviews

    About Jackson Hewitt Tax Service

    Started in1960, Jackson Hewitt is a full-service, year-round national tax service specializing in computerized federal and state preparation of individual returns. It began franchising in 1986, the same year that the IRS introduced electronic filing.

    The total investment necessary to begin operation of a standard Jackson Hewitt Tax Service® business is $74,820 to $110,255 and for a kiosk location is $45,130 to $71,355. This includes $15,500 to $25,500 that must be paid to the franchisor.
    Veteran Incentives  20% off franchise fee
    "Entrepreneur
    #197 in Franchise 500 for 2020.
    #250 in Franchise 500 for 2021.



    About Econotax

    ECONOTAX is an association of tax professionals, who carefully prepare Federal and state tax returns for individuals, partnerships, corporations, fiduciaries, and other taxpayers. The Econotax system produces high-quality returns which Econotax is proud to stand behind, assisting clients on audits and helping them plan to achieve the lowest tax possible. The success and stability of the Econotax system is exemplified by the first franchise, established in 1968 in Picayune, MS., which is still operating under the same owner.