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Updated RecentlyEconotax vs TaxAssist Accountants Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Econotax vs TaxAssist Accountants 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 | $200,000 - And Up |
| Franchise Fee | $10,000 | $49,950 |
| Royalty Fee | 12% | - |
| Advertising Fee | - | - |
| Year Founded | 1965 | 1995 |
| Year Franchised | 1968 | 1996 |
| Term Of Agreement | 5 years | 5 years |
| Term Of Agreement | 5 years | 5 years |
| 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 | -/- |
| Start-up Costs | No/No | -/- |
| Equipment | No/No | -/- |
| Inventory | No/No | -/- |
| Receivables | No/No | -/- |
| Payroll | No/No | -/- |
Training & Support |
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| 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 |
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| US Expansion | - | - |
| 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 TaxAssist Accountants
TaxAssist Accountants have developed an innovative business model that allows our franchisees to focus on a lucrative market of potential clients.
The proven business model of TaxAssist Accountants is straightforward - take on hundreds of small business clients with relatively uncomplicated accounting, tax and advisory work while being based in visible, accessible and welcoming shop front premises.
By servicing the needs of small businesses, subcontractors and the self-employed, as a franchisee you can focus on a group of clients who have traditionally been neglected.
Concentrating on the needs of small business clients can offer time-management advantages and through our training and judicious use of our support functions, you can also provide first-class services to your client base.
The TaxAssist Accountants franchise model is based on very simple principles. By servicing the needs of small businesses, subcontractors and the self-employed, our franchisees can focus on a set of clients that have traditionally been neglected. Keeping to the smaller client can offer time-management advantages to the franchisee and through our training and judicious use of our support functions, the franchisees can also provide first class service to their client base. Our aim is to strengthen our network with franchisees that follow our business development strategies in order to build a sizeable accountancy practice. These strategies are based on best practice and powerful marketing techniques that can accelerate the growth of each franchisee's business. Initially, franchisees are likely to spend at least 50% of their time on business development activities, with the view to spending 100% of their time attracting new clients, managing customer relationships and leading a team of staff members - the goal is to work on the business rather than in it. With ten years experience behind us, we have actively evolved our support infrastructure to enable franchisees to build their businesses in a commercially dynamic way.