Econotax vs Tax Centers of America Franchise Comparison

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

Start-Up Costs and Fees

 
Econotax Franchise
Tax Centers of America Franchise
Investment $15,400 - $33,000$20,300 - $63,550
Franchise Fee $10,000$20,000
Royalty Fee 12%$30-55/return
Advertising Fee --
Year Founded 19651994
Year Franchised 19681997
Term Of Agreement 5 years10 years
Term Of Agreement 5 years10 years
Renewal Fee -$1K


Business Experience Requirements

 
Econotax Franchise
Tax Centers of America Franchise
Experience
  • General business experience
  • Customer service experience, computer skills
  • -

    Financing Options

     
    Econotax Franchise
    Tax Centers of America Franchise
      In-House/3rd PartyIn-House/3rd Party
    Franchise Fees Yes/NoNo/No
    Start-up Costs No/NoNo/No
    Equipment No/NoNo/No
    Inventory No/NoNo/No
    Receivables No/NoNo/No
    Payroll No/NoNo/No

    Training & Support

     
    Econotax Franchise
    Tax Centers of America Franchise
    Training Continuing education seminars-
    Support Meetings, Toll-free phone line, InternetNewsletter, Meetings, Toll-free phone line, Internet
    Marketing Co-op advertising, Ad slicks, Regional advertisingAd 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)

    24% of all franchisees own more than one unit

    Number of employees needed to run franchised unit: 2

    Absentee ownership of franchise is allowed. (97% of current franchisees are owner/operators)


    Expansion Plans

     
    Econotax Franchise
    Tax Centers of America Franchise
    US Expansion -Yes
    Canada Expansion NoNo
    International Expansion NoNo

    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 Tax Centers of America

    Why Work for Someone Else? Own a Tax Centers of America Franchise

    The decision to start your own business often leads to more questions rather than answers, especially for those completely new to entrepreneurship. What will the business plan be? How will I get start-up capital? Who will I need to hire? What should I pay them? How do I get people to buy my products or services? It may seem overwhelming to figure out on your own. That's why millions of people choose franchises to start their own business.
    With franchising, all the major questions and most of the mistakes have been answered by someone else - the franchisor. As a Tax Centers of America franchisee, you automatically inherit the knowledge we've learned over our years in the tax preparation business. What's more, you'll be trained in how to use this knowledge to make your own decisions. It's this blend of independence and support that makes buying Tax Centers of America franchise such a desirable business opportunity.
    Franchisees get to set their hours and run the day-to-day operations just like any other small business owner. The key difference is that franchisees enjoy the benefits of an established brand name, which assists you in building your customer base.The leverage of our brand name will increase your opportunity of success. In general, franchise businesses still operating after 1 year as compared to an independent business is 97% to 62%. After five years, the comparison is even more significant as 92% of franchised businesses are still operating, compared to 23% of independent businesses. After ten years. 90% of franchised businesses are still operating compared to 18% of independent businesses.Obviously, your effort will determine your success; however, the statistics tell the story. Your chance to reach your dreams and goals are dramatically increased through franchising, and we believe a Tax Centers of America franchise is the opportunity to attain your independence. Consider this: How many business customers are required to?
    • File a report on an annual basis
    • Pay a penalty if this report isn't filed
    • Receive cash back from filing this report
    This sounds ridiculous, but as you know the April 15th deadline is real and most Americans receive a portion of the taxes paid during the year back in the form of a refund. Do you want to own a business that provides a service that returns CASH to your customers, is paid well for providing this service and has a full-time income for part-time work? If so, discuss the Tax Centers of America franchise opportunity with us and let's get started!!
    All new offices receive the technology needed and the software required for tax season. Additionally, each new franchise will receive Accounting software and training to begin a bookkeeping business. Advertisement templates such as flyers, business cards, and coupons with your office location on them so everyone will know who and where you are.The support of experienced tax professionals and support staff. Extensive annual training to keep you up to date with current laws and software.
     
    Tax Centers of America is the only tax franchiser that is willing to offer a " Buy 1 Get 3 Free" to any new franchisee. That's right! Buy 1 Get 3 Free. You get four tax franchises for the price of one. This is your chance to join the BEST franchise in America.