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Updated RecentlyEconotax vs American Tax and Financial Group Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Econotax vs American Tax and Financial Group 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 | $33,600 - $43,000 |
| Franchise Fee | $10,000 | $15,000 |
| Royalty Fee | 12% | 10% |
| Advertising Fee | - | - |
| Year Founded | 1965 | 1997 |
| Year Franchised | 1968 | 2003 |
| Term Of Agreement | 5 years | 5 years |
| Term Of Agreement | 5 years | 5 years |
| Renewal Fee | - | $2.5K |
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/No |
| Start-up Costs | No/No | No/No |
| Equipment | No/No | No/No |
| Inventory | No/No | No/No |
| Receivables | No/No | No/No |
| Payroll | No/No | No/No |
Training & Support |
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| Training | Continuing education seminars | - |
| Support | Meetings, Toll-free phone line, Internet | Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations |
| Marketing | Co-op advertising, Ad slicks, Regional 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) |
Number of employees needed to run franchised unit: 4 Absentee ownership of franchise is allowed. |
Expansion Plans |
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| US Expansion | - | - |
| Canada Expansion | No | No |
| International Expansion | No | 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 American Tax and Financial Group
American Tax and Financial Group was founded in 1997 in Dallas, Texas by Calvin Dale Brown II, as a sole proprietor certified public accounting firm. The Company had very humble beginnings. With no more than $700 and a “dream”, Mr. Brown secured a lease on a small office, measuring about 120 square feet, and the practice was born. The first full year of business, the practice grossed about $35,000, mainly providing income tax services, including electronic filing, to individual taxpayers. Year two saw an increase in revenues from business services, as well as more tax clients, and revenue doubled to about $70,000. After just three years in business, the practice was grossing about $100,000 annually. Over the next three years, Mr. Brown continued to run and grow the practice. After 6 years of running a local CPA firm, it was now time, and the decision was made, to expand the practice nationally, and American Tax and Financial Group was born. Mr. Brown’s vision for the Company is for it to be America’s leading and premier financial services company, offering tax, comprehensive financial, and business services to the American public through a nationwide group of Certified Public Accountants and trained tax professionals (independent franchisees).