Econotax vs Umbrella Financial Services Franchise Comparison

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

Start-Up Costs and Fees
 
Econotax Franchise
Umbrella Financial Services Franchise
Investment $15,400 - $33,000 $199
Franchise Fee $10,000 N/A
Royalty Fee 12% -
Advertising Fee - -
Year Founded 1965 2011
Year Franchised 1968 2011
Term Of Agreement 5 years -
Term Of Agreement 5 years -
Renewal Fee - -


Business Experience Requirements
 
Econotax Franchise
Umbrella Financial Services Franchise
Experience
  • General business experience
  • Customer service experience, computer skills
    		•  -

    Financing Options
     
    Econotax Franchise
    Umbrella Financial Services 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
    Umbrella Financial Services 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
    Umbrella Financial Services Franchise
    US Expansion - Yes
    Canada Expansion No -
    International Expansion No -

    Start-Up Costs and Fees Mobile
    Investment
    Econotax Franchise
    		 $15,400 - $33,000
    Umbrella Financial Services Franchise
    		 $199
    Franchise Fee
    Econotax Franchise
    		 $10,000
    Umbrella Financial Services Franchise
    		 N/A
    Royalty Fee
    Econotax Franchise
    		 12%
    Umbrella Financial Services Franchise
    		 -
    Advertising Fee
    Econotax Franchise
    		 -
    Umbrella Financial Services Franchise
    		 -
    Year Founded
    Econotax Franchise
    		 1965
    Umbrella Financial Services Franchise
    		 2011
    Year Franchised
    Econotax Franchise
    		 1968
    Umbrella Financial Services Franchise
    		 2011
    Term Of Agreement
    Econotax Franchise
    		 5 years
    Umbrella Financial Services Franchise
    		 -
    Renewal Fee
    Econotax Franchise
    		 -
    Umbrella Financial Services Franchise
    		 -


    Business Experience Requirements
    Experience
    Econotax Franchise
  • General business experience
  • Customer service experience, computer skills
    		•
    Umbrella Financial Services Franchise
    		 -

    Financing Options
      In-House/3rd Party
    Franchise Fees
    Econotax Franchise
    		 Yes/No
    Umbrella Financial Services Franchise
    		 -/-
    Start-up Costs
    Econotax Franchise
    		 No/No
    Umbrella Financial Services Franchise
    		 -/-
    Equipment
    Econotax Franchise
    		 No/No
    Umbrella Financial Services Franchise
    		 -/-
    Inventory
    Econotax Franchise
    		 No/No
    Umbrella Financial Services Franchise
    		 -/-
    Receivables
    Econotax Franchise
    		 No/No
    Umbrella Financial Services Franchise
    		 -/-
    Payroll
    Econotax Franchise
    		 No/No
    Umbrella Financial Services Franchise
    		 -/-

    Training & Support
    Training
    Econotax Franchise
    		 Continuing education seminars
    Umbrella Financial Services Franchise
    		 -
    Support
    Econotax Franchise
    		 Meetings, Toll-free phone line, Internet
    Umbrella Financial Services Franchise
    		 -
    Marketing
    Econotax Franchise
    		 Co-op advertising, Ad slicks, Regional advertising
    Umbrella Financial Services 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)
    Umbrella Financial Services Franchise
    		 -

    Expansion Plans
    US Expansion
    Econotax Franchise
    		 -
    Umbrella Financial Services Franchise
    		 Yes
    Canada Expansion
    Econotax Franchise
    		 No
    Umbrella Financial Services Franchise
    		 -
    International Expansion
    Econotax Franchise
    		 No
    Umbrella Financial Services 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 Umbrella Financial Services

    "Umbrella
    Whether you’re a seasoned professional or new in your career, we’ve got unique plans to help you earn more money, develop your skillset and build your dream business.
    Build your own low-cost, recession-proof, high-growth tax and financial planning business - we’ll show you how.