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Updated RecentlyEconotax vs SiempreTax+ Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Econotax vs SiempreTax+ including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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| Investment | $15,400 - $33,000 | $43,700 - $71,900 |
| Franchise Fee | $10,000 | $25,000 - $40,000 |
| Royalty Fee | 12% | Varies |
| Advertising Fee | - | 5% |
| Year Founded | 1965 | 2014 |
| Year Franchised | 1968 | 2014 |
| Term Of Agreement | 5 years | Perpetual |
| Term Of Agreement | 5 years | Perpetual |
| Renewal Fee | - | - |
Business Experience Requirements |
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| Experience | - | |
Financing Options |
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| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | Yes/No | Yes/Yes |
| Start-up Costs | No/No | Yes/Yes |
| Equipment | No/No | Yes/Yes |
| Inventory | No/No | Yes/Yes |
| Receivables | No/No | -/- |
| Payroll | No/No | Yes/Yes |
Training & Support |
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| Training | Continuing education seminars | On-The-Job Training: Ongoing Classroom Training: 40 hours |
| Support | Meetings, Toll-free phone line, Internet | 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 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) | Absentee Ownership Allowed |
Expansion Plans |
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| US Expansion | - | Yes |
| Canada Expansion | No | No |
| International Expansion | No | Yes |
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 SiempreTax+
SiempreTax+ is a low-investment tax franchise opportunity, specializing
in tax return preparation for individuals and small businesses in the
Hispanic market. It is an affiliate of the Liberty Tax brand, one of the
fastest growing tax preparation companies in the industry.