Padgett Business Services vs Econotax Franchise Comparison

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

Start-Up Costs and Fees
 
Padgett Business Services Franchise
Econotax Franchise
Investment $20,200 - $99,975$15,400 - $33,000
Franchise Fee $15,000 - $56,000$10,000
Royalty Fee 9%+12%
Advertising Fee --
Year Founded 19651965
Year Franchised 19751968
Term Of Agreement 20 years5 years
Term Of Agreement 20 years5 years
Renewal Fee 5% of then-current fee-


Business Experience Requirements
 
Padgett Business Services Franchise
Econotax Franchise
Experience
  • Industry experience

  • General business experience
  • Customer service experience, computer skills
    		•

    Financing Options
     
    Padgett Business Services Franchise
    Econotax Franchise
      In-House/3rd PartyIn-House/3rd Party
    Franchise Fees No/YesYes/No
    Start-up Costs No/YesNo/No
    Equipment No/YesNo/No
    Inventory No/NoNo/No
    Receivables No/NoNo/No
    Payroll No/NoNo/No

    Training & Support
     
    Padgett Business Services Franchise
    Econotax Franchise
    Training Classroom Training: up to 80 hours Additional Training: At annual marketing convention & tax seminar Continuing education seminars
    Support Newsletter Meetings/Conventions Toll-Free Line Online Support Security/Safety Procedures Field Operations Franchisee Intranet Platform Meetings, Toll-free phone line, Internet
    Marketing Ad Templates National Media Social media SEO Website development Email marketing Co-op advertising, Ad slicks, Regional advertising
    Operations Franchise can be run from home.

    0.5% of all franchisees own more than one unit

    Number of employees needed to run franchised unit: 1

    Absentee ownership of franchise is NOT allowed.

    		 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
     
    Padgett Business Services Franchise
    Econotax Franchise
    US Expansion Yes-
    Canada Expansion YesNo
    International Expansion YesNo

    Company Overviews

    About Padgett Business Services

    Bolster Your Small Business Tax Practice
     As the owner of a tax practice, you must be proactive in order to keep up with market changes, technology and your clients' needs. Staying on top of new regulations is critical for any tax business to truly serve its clients. From this challenge to growing your customer base, revenue and profitability, you need someone to support your efforts in improving and solidifying your business. Enter Padgett Business Services, a provider of tax, finance, compliance and payroll services to small businesses. A local, affiliate-based organization, we rely on tax professionals like you to meet the needs of business owners across the country.
     As a Padgett Business Services affiliate owner, you're able to bolster your business with:
    - Tax support services that help you provide the best possible assistance to your clients.
    - State-of-the-art software that streamlines your processes.
    - Greater opportunities to grow your client base, increase your revenue and maximize your profitability.
    - Continue to build upon your success and learn more about your growth potential as an affiliate of Padgett Business Services.

    Veteran Incentives  $4,000 off franchise fee
    "Top     "Top
    #78 in Gator's Top franchises.
    #92 in Canada's Top franchises.

    "Entrepreneur
    #435 in Franchise 500 for 2020.



    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.