Econotax vs 1040TaxBiz Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of Econotax vs 1040TaxBiz including start-up costs and fees, business experience requirements, training & support and financing options.

Start-Up Costs and Fees

 
Econotax Franchise
1040TaxBiz Franchise
Investment $15,400 - $33,000 $249 - $2,899
Franchise Fee $10,000 N/A
Royalty Fee 12% -
Advertising Fee - -
Year Founded 1965 -
Year Franchised 1968 -
Term Of Agreement 5 years -
Term Of Agreement 5 years -
Renewal Fee - -


Business Experience Requirements

 
Econotax Franchise
1040TaxBiz Franchise
Experience
  • General business experience
  • Customer service experience, computer skills
  • -

    Financing Options

     
    Econotax Franchise
    1040TaxBiz Franchise
      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

     
    Econotax Franchise
    1040TaxBiz 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
    1040TaxBiz Franchise
    US Expansion - Yes
    Canada Expansion No -
    International Expansion No -

    Start-Up Costs and Fees Mobile

    Investment
    Econotax Franchise
    $15,400 - $33,000
    1040TaxBiz Franchise
    $249 - $2,899
    Franchise Fee
    Econotax Franchise
    $10,000
    1040TaxBiz Franchise
    N/A
    Royalty Fee
    Econotax Franchise
    12%
    1040TaxBiz Franchise
    -
    Advertising Fee
    Econotax Franchise
    -
    1040TaxBiz Franchise
    -
    Year Founded
    Econotax Franchise
    1965
    1040TaxBiz Franchise
    -
    Year Franchised
    Econotax Franchise
    1968
    1040TaxBiz Franchise
    -
    Term Of Agreement
    Econotax Franchise
    5 years
    1040TaxBiz Franchise
    -
    Renewal Fee
    Econotax Franchise
    -
    1040TaxBiz Franchise
    -


    Business Experience Requirements

    Experience
    Econotax Franchise

  • General business experience
  • Customer service experience, computer skills
  • 1040TaxBiz Franchise
    -

    Financing Options

      In-House/3rd Party
    Franchise Fees
    Econotax Franchise
    Yes/No
    1040TaxBiz Franchise
    -/-
    Start-up Costs
    Econotax Franchise
    No/No
    1040TaxBiz Franchise
    -/-
    Equipment
    Econotax Franchise
    No/No
    1040TaxBiz Franchise
    -/-
    Inventory
    Econotax Franchise
    No/No
    1040TaxBiz Franchise
    -/-
    Receivables
    Econotax Franchise
    No/No
    1040TaxBiz Franchise
    -/-
    Payroll
    Econotax Franchise
    No/No
    1040TaxBiz Franchise
    -/-

    Training & Support

    Training
    Econotax Franchise
    Continuing education seminars
    1040TaxBiz Franchise
    -
    Support
    Econotax Franchise
    Meetings, Toll-free phone line, Internet
    1040TaxBiz Franchise
    -
    Marketing
    Econotax Franchise
    Co-op advertising, Ad slicks, Regional advertising
    1040TaxBiz Franchise
    -
    Operations
    Econotax Franchise
    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)

    1040TaxBiz Franchise
    -

    Expansion Plans

    US Expansion
    Econotax Franchise
    -
    1040TaxBiz Franchise
    Yes
    Canada Expansion
    Econotax Franchise
    No
    1040TaxBiz Franchise
    -
    International Expansion
    Econotax Franchise
    No
    1040TaxBiz Franchise
    -

    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 1040TaxBiz

    Why should I own a 1040TaxBiz tax preparation business? We have been at this for 19 years and invented the business model of low cost tax offices. Every year someone tries to be like 1040TaxBiz. New companies start up every season trying to use our business model. They use our promotional ideas and our pricing. We stand alone in that we have an "A" rating with the BBB. Our marketing and promotion support is unique and powerful in its results. As an example: Our Family Dollar Program allows you to open a turnkey business this tax season. We give you everything you need - Location, Software, Bank Product, Marketing and Direct access to 15,000 to 30,000 potential tax clients every month, all in one package! Only 1040TaxBiz can put you in a Family Dollar location this tax season for as little as $2,899.00 for the peak season. DAS and DAS Premium Packages - Standalone direct compete! Serious entrepreneurs understand the importance that timing and cost, play in starting a successful business. If you have been waiting for the right time to start own business, then your wait is over. For a low start-up fee and a choice of options, you can open a complete tax office for the upcoming tax season. We will show you how once you have decided to invest in a business and have looked in the market of opportunities you will find that the tax preparation business is actually one of the best ones to provide rapid and steady growth. 20 reasons to join 1040TaxBiz 1. Earn $100/hour or more as an experienced pro 2. Over 19 years of tax experience 3. Reduce your own tax liability 4. Your skills will make you more marketable 5. Work 3 months of the year and make a great income 6. Have your summers and holidays free 7. Be more secure you control your own destiny 8. High Income potential 9. Minimal start-up cost 10. Get your tax business started quickly 11. No franchise fees or royalties 12. No accounting background or degree required 13. We teach you everything you need to know and do it faster than you think! 14. No need to reinvent the wheel we offer tax manuals on policies and procedures, tax preparation marketing, personnel and expansion 15. Fast ramp-up time 16. Additional revenue stream 17. We provide a variety of training options, online and personal 18. Have your tax business in a major retail location 19. Back office support year round for you and your clients 20. In-house IT and Software support We offer a business model that will fit your budget and your growth plan. Our entry level program costs as little as $249.00. Our year around standalone package is just $1,899.00 to start. Our business model is designed for someone who wants to start their own business but doesn't have the large upfront investment. Our model uses a shared revenue approach, for start-up businesses. We offer all the services you need to run and support your business. We operate and manage your back office; we support your marketing and train your staff. You spend "time" i.e., your sweat equity, in growing your business, and we share the revenues. Request information now to take advantage of the opportunity that we offer. IT works!