Econotax vs Liberty Tax Service Franchise Comparison

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

Start-Up Costs and Fees

 
Econotax Franchise
Liberty Tax Service Franchise
Investment $15,400 - $33,000$58,700 - $71,900
Franchise Fee $10,000$40,000
Royalty Fee 12%14%
Advertising Fee -5%
Year Founded 19651972
Year Franchised 19681973
Term Of Agreement 5 yearsPerpetual
Term Of Agreement 5 yearsPerpetual
Renewal Fee --


Business Experience Requirements

 
Econotax Franchise
Liberty Tax Service Franchise
Experience
  • General business experience
  • Customer service experience, computer skills

  • General business experience
  • Marketing skills
  • Customer service experience

  • Financing Options

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

    Training & Support

     
    Econotax Franchise
    Liberty Tax Service Franchise
    Training Continuing education seminarsWe'll start with a week-long session at our corporate office in Virginia Beach, VA; follow it up with online and printed manuals, traditional and non-traditional training methods, webinars, onsite training, off-site training, conference calls and newsletters. In short, we believe in training. On-The-Job Training: 20 hours Classroom Training: 40+ hours Additional Training: Additional training in various cities
    Support Meetings, Toll-free phone line, InternetCompetitive advantage, population trends, traffic counts, visibility and more-you won't go it alone. Our team of experienced Site Selectors works one-on-one to locate, negotiate and sign the perfect location for your Liberty Tax office. And with available territories throughout the US and Canada, we're fairly certain we can find the right location, right in your hometown. Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform
    Marketing Co-op advertising, Ad slicks, Regional advertisingAd Templates National Media Regional Advertising Social media SEO Website development Email marketing Loyalty program/app
    Operations 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)

    50% of all franchisees own more than one unit

    Number of employees needed to run franchised unit: 5 - 10

    Absentee ownership of franchise is allowed. (98% of current franchisees are owner/operators)


    Expansion Plans

     
    Econotax Franchise
    Liberty Tax Service Franchise
    US Expansion -Yes
    Canada Expansion NoYes
    International Expansion NoYes

    Company Overviews

    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.

    About Liberty Tax Service

    Live Your Dream. Not Someone Else's. You have big dreams. You dream of success. Possess a passion. Believe in yourself. Won't accept average. We know that feeling. We're looking for dreamers who want to work for no one ... but themselves. Liberty franchisees are an exclusive group. We're not for everyone. We dream big. We are forward thinkers embracing proven marketing plans, working seasonally and connecting through cutting-edge social communications. We're high profile. Low investment. Family oriented. And taking the lead. Have what it takes? Join our dream team. We've been looking for you. We are talking to motivated people to operate Liberty Tax offices across the country. If you are prepared to jump in with both feet, now is the time. Read some more about us. Then when you're ready, Liberty Tax wants to talk to you. No Tax Experience? No Worries. As a Liberty Tax franchise owner, you'll have a proven system to follow that was 40+ years in the making. Our franchisees have access to more than 600 years of managerial experience, tax industry expertise and street-savvy marketing. Keep Your Day Job-If You Want To. Our franchisees work really hard for 3  months then spend the rest of the year pursuing other interests. Many of our current franchisees, have kept their day jobs. Many others have found other things to do when tax season comes to a close. Go on vacation. Raise alpacas. Learn to yodel. What you do with your time is up to you.
     We'll Take You To Our Leader  We are led by International Franchise Association Entrepreneur of the Year, John T. Hewitt. As Liberty's CEO and Founder he has weathered more than 42 tax seasons. He's seen the trends. He knows what's coming. He even worked with two of those other tax prep companies, who shall remain nameless. Based on his wealth of experience, Hewitt has led Liberty to open 3,800 offices in just 14 years-more than three times faster than any tax company-EVER. And Hewitt shares his insight with his franchisees, as a hands-on CEO, hosting conference calls, seminars and personally answering his e-mails.
     Low Costs. High Returns. Happy You. The Liberty Tax franchise investment is one of the most affordable out there. Shop around, look at others, even on this website. Go ahead. We have nothing to hide. It is simply a fact that Liberty Tax start-up costs are lower than many other franchises on Entrepreneur magazine's list of the "Top 500 Franchises". A seasonal workforce keeps overhead lower than nearly any other industry. Being a service-based operation, there is no inventory. No inventory. No worries about inventory loss.
     We Are Growing Crazy 

    Liberty Tax Service is prepared to open a Liberty Tax office every day, for the next year. We are ready to talk to people who are anxious to open a Liberty Tax in your city right now. With available territories in two countries, all 50 states from small-town USA to the largest metros, we need people who have that fire in their belly and a desire to succeed. If you have it, you'll know. Don't let someone else open a Liberty Tax in your hometown. Location. Location. Location. Be Prepared To Be The CEO Do hamburger franchise owners flip the burgers in their stores? No way. Liberty Tax franchisees are CEOs. You manage your store, payroll and marketing. You staff it. Network with other businesses. Connect with your community. This is not another job. And we are not hiring employees. You will be in business for yourself with a very powerful partner in the franchising community. Go ahead make your dreams with a reality. We can't wait to talk to you.

    Veteran Incentives  Special financing

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