Econotax vs Toro Taxes Franchise Comparison

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

Start-Up Costs and Fees
 
Econotax Franchise
Toro Taxes Franchise
Investment $15,400 - $33,000$37,835 - $64,150
Franchise Fee $10,000$25,000
Royalty Fee 12%-
Advertising Fee --
Year Founded 19652012
Year Franchised 19682019
Term Of Agreement 5 years-
Term Of Agreement 5 years-
Renewal Fee --


Business Experience Requirements
 
Econotax Franchise
Toro Taxes Franchise
Experience
  • General business experience
  • Customer service experience, computer skills
    		• -

    Financing Options
     
    Econotax Franchise
    Toro Taxes Franchise
      In-House/3rd PartyIn-House/3rd Party
    Franchise Fees Yes/No-/-
    Start-up Costs No/No-/-
    Equipment No/No-/-
    Inventory No/No-/-
    Receivables No/No-/-
    Payroll No/No-/-

    Training & Support
     
    Econotax Franchise
    Toro Taxes Franchise
    Training Continuing education seminars-
    Support Meetings, Toll-free phone line, Internet-
    Marketing Co-op advertising, Ad slicks, Regional advertising-
    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
    Toro Taxes Franchise
    US Expansion -Yes
    Canada Expansion No-
    International Expansion No-

    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 Toro Taxes

    Originally founded by Oscar Toro and Nick Maldonado as a Tax Preparation Company, Toro Taxes has grown into a National Latino Based National Provider of Tax Preparation & Bookkeeping Services.Toro Taxes provides full training to all new and ongoing franchisees and their tax consultants. You and your staff will learn from IRS registered tax professionals with years of experience. You will learn how to provide the best service to your customers to learning and understanding the latest tax codes and processes. No experience in taxes is necessary. We provide full training to all NEW franchisees. If you have business experience in management and have the leadership skills to guide others to achieve your goals then Toro Taxes is your home.