H & R Block Growth Plans Target 100 New Franchise Locations

Wednesday, October 05, 2011

H&R Block Inc.wants to add 100 new franchise locations to its 11,000-office network.

The Kansas City-based tax preparer (NYSE: HRB) said the growth plans include targeting independent tax business owners who want to convert to the H&R Block brand. The company also will target tax business owners looking to retire and seeking an exit strategy.

"Since the IRS has increased training and testing requirements, now is an ideal time to get operational help and support," Amy McAnarney, senior vice president for retail tax operations and franchise development, said in a release. "We have been working closely to monitor and provide feedback to the IRS as it develops and tests the requirements program. In addition, we have several training curriculums designed to help our tax professionals and franchisees prepare for and pass these competency exams." H&R Block has more than 4,300 franchise locations, with the average franchisee owning three locations and having more than 19 years of experience with H&R Block. Franchisees are independent and can set their pricing.

"Last year, H&R Block increased its new client base by nearly 19 percent," McAnarney said in the release. "We have many strategic efforts to help our franchisees achieve new client growth, such as our Assisted Acquisition Program. The program helps franchisees identify acquisition opportunities, then provides financial support by paying up to 80 percent of the purchase price." During the 2011 tax season, H&R Block has said it increased client retention by almost 4 percent and gained retail and digital tax preparation market share. However, H&R Block's annual income fell by 15 percent during a year that required the company to make quick adjustments.

Last week, H&R Block announced plans to discontinue its ExpressTax brand, which has 269 franchise offices � one in the Kansas City area. However, the company said it would invite many of those franchisees to switch to the H&R Block brand.

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H & R Block Tax Services, Inc.
One H&R Block Way
Kansas City, MO

Phone: (816) 932-4928
Toll Free: (800) 869-9220
Fax: (816) 932-1904

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