Econotax vs Paramount Tax & Accounting Franchise Comparison

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

Start-Up Costs and Fees
 
Econotax Franchise
Paramount Tax & Accounting Franchise
Investment $15,400 - $33,000$87,851 - $142,000
Franchise Fee $10,000$49,500
Royalty Fee 12%8%
Advertising Fee -2%
Year Founded 19652008
Year Franchised 19682017
Term Of Agreement 5 years-
Term Of Agreement 5 years-
Renewal Fee --


Business Experience Requirements
 
Econotax Franchise
Paramount Tax & Accounting Franchise
Experience
  • General business experience
  • Customer service experience, computer skills
    		• There are a variety of candidates that can fit our “ideal.” Our accounting and bookkeeping franchise is a perfect opportunity for CPAs looking to start their own business, entrepreneurs with a small or mid-sized firm looking to get to the next level, accountants from the Big 4 seeking a new opportunity, or simply driven individuals who want job security and to be their own boss. Sound like you? Let’s talk.

    Financing Options
     
    Econotax Franchise
    Paramount Tax & Accounting Franchise
      In-House/3rd PartyIn-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
    Paramount Tax & Accounting Franchise
    Training Continuing education seminarsWe take pride in our extensive training process that sets you up for success, no matter your level of experience. We fly potential franchisees out to headquarters to get a taste of the business model. Ready to get started? You’ll spend a week at our training school at HQ, a week with on-site training at a mentor’s store, and then time at your own store to get things up and running.
    Support Meetings, Toll-free phone line, InternetWe’re here to help with startup challenges like site selection, lease negotiation, purchasing, and other legal services you might need.
    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
    Paramount Tax & Accounting Franchise
    US Expansion -Yes
    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 Paramount Tax & Accounting

    "ParamountParamount is a Utah-based CPA firm providing value to individuals and businesses within Utah and beyond. Paramount specializes in tax, accounting, financial & business services as well as wealth planning.

    Paramount Tax offers 31 years of proven experience, extensive training to set you up for success, and services that our big name competitors don’t: every return is reviewed by a CPA within the franchise.
    At Paramount Tax, we offer accounting franchise opportunities because we believe that anyone with the drive to own their own business can be successful in this industry, and we offer the training and resources to make that happen.