Econotax vs H & R Block Franchise Comparison

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

Start-Up Costs and Fees
 
Econotax Franchise
H & R Block Franchise
Investment $15,400 - $33,000$31,501 - $149,398
Franchise Fee $10,000$2,500
Royalty Fee 12%30%
Advertising Fee -No Advertising Fees
Year Founded 19651955
Year Franchised 19681958
Term Of Agreement 5 years-
Term Of Agreement 5 years-
Renewal Fee --


Business Experience Requirements
 
Econotax Franchise
H & R Block Franchise
Experience
  • General business experience
  • Customer service experience, computer skills
    		• -

    Financing Options
     
    Econotax Franchise
    H & R Block Franchise
      In-House/3rd PartyIn-House/3rd Party
    Franchise Fees Yes/No-/-
    Start-up Costs No/NoYes/-
    Equipment No/NoYes/-
    Inventory No/NoYes/-
    Receivables No/NoYes/-
    Payroll No/NoYes/-

    Training & Support
     
    Econotax Franchise
    H & R Block Franchise
    Training Continuing education seminars On-The-Job Training: Up to 300 hours Classroom Training: 36 hours Additional Training: Regional training, year-round; ongoing online training
    Support Meetings, Toll-free phone line, InternetPurchasing Co-ops 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 advertisingCo-op Advertising Ad 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)

    		-

    Expansion Plans
     
    Econotax Franchise
    H & R Block Franchise
    US Expansion -Yes
    Canada Expansion No-
    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 H & R Block

    H&R Block is one of the world's largest tax services providers. H&R Block has prepared more than 550 million tax returns worldwide since 1955 and they have more than 100,000 trained tax professionals . The company was founded in 1955 by Brothers Henry W. Bloch and Richard A. Bloch who then grew the business to become a brand and franchising icon. As well as providing in-person tax return preparation services, H&R Block also provides At Home online services and through desktop software products, and through other channels, the company also offers financial products to support its tax business through the H&R Block Bank. The bank offers traditional and alternative banking solutions to H&R Block tax clients and associates and serves customers online, via phone and at a branch location at H&R Block world headquarters in Kansas City, Montana. When you become an H&R Block franchisee, you have more than 55 years of experience standing behind you. In addition to pioneering the tax services industry, H&R Block was also one of the first companies in the nation to implement the concept of franchising. In other words, no one knows the tax industry like H&R Block, and no competitor can offer a better franchise opportunity. So you can rest assured that our long history with the franchise business model will work to your advantage. We'll supply the tools you need to help you effectively beat the competition and to help you ensure your franchise's success.

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