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Updated RecentlyEconotax vs Instant Tax Service Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Econotax vs Instant Tax Service 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 | $39,000 - $89,000 |
| Franchise Fee | $10,000 | $39,000 |
| Royalty Fee | 12% | 20% |
| Advertising Fee | - | - |
| Year Founded | 1965 | 2000 |
| Year Franchised | 1968 | 2004 |
| Term Of Agreement | 5 years | 10 Years |
| Term Of Agreement | 5 years | 10 Years |
| Renewal Fee | - | 25% of franchise 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/No |
| Start-up Costs | No/No | Yes/Yes |
| Equipment | No/No | No/Yes |
| 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 | Specialized, in-depth training to prepare you for your new career as a small business owner. You will learn all about the tax industry, current tax laws, state-of-the-art software programs, and everything else you need to build your business. Our franchise support team will help you every step of the way. |
| Support | Meetings, Toll-free phone line, Internet | Our Franchise Support team will provide all the interior design specifications, floor plans, and marketing and sales materials you need for this business opportunity. If you have any questions, just call on our year-round franchise support team. |
| 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 |
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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 Instant Tax Service
If you have an entrepreneurial spirit and an interest in succeeding with a powerful new business opportunity, you're not alone! As one of the top franchisors in the tax industry, we pride ourselves on offering small business owners the opportunity to succeed with us. Does this business opportunity offer you the type of challenge you're looking for? Are you comfortable with the type of investment you'll need? Be sure to ask questions from the company's franchise recruiting staff. Make sure the franchise has a proven business model and dedicated franchise support team. As a franchisor, we strive to make sure our franchisees are the right fit for our business opportunity. To learn more about franchising opportunities, visit our website www.instanttaxservice.com and fill out our request for information. Let us help you get started on the road to franchising!