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Franchise Picks
Liberty Tax Service
 

LIBERTY TAX SERVICE is the fastest-growing international tax service ever, and is ranked as #9 of the fastest-growing franchises in Entrepreneur magazine’s "Franchise 500." Any given year, there is a growing market of taxpayers, and as the tax laws become more complex, many taxpayers are turning to professional preparers to complete that annual task. LIBERTY's growth is fueled by a proven operating system that has been fine-tuned by the leadership and field support staff's more than 600 total years of experience. As a result, no prior tax experience is required to put this system to work. Founder/CEO John Hewitt has worked 41 tax seasons, including 12 years with H&R Block. Accounting Today magazine has named Hewitt one of the accounting profession's Top 100 Most Influential People—10 times! The International Franchise Association has honored Hewitt as its "Entrepreneur of the Year."

Franchisor Background

Year Established:

  1997

Franchising Since:

  1997

Operating Units:

Franchised Units:3,468 97.8%  
Company-Owned Units:77 2.2%  
 ______ _____  
Total Operating Units:3,545 100%  
 

Geographic Distribution:

U.S.:3,300 93.1% In 50 States
Canada:245 6.9% In 0 Canadian Provinces
International:0 0% In 0 Foreign Countries
 ______ _____  
Total:3,545 100%  
 

North America:

States/Provinces with the largest number of operating units:
DensityUnits    
1. California355
2. Florida202
3. Texas257

Registered in Following Registration States:

   Hawaii, Minnesota, Virginia, Washington, Wisconsin

Financial Requirements

Investment:

Minimum Net Worth:$No net worth requirement
Cash Investment:$40K
Total Investment:$56.8-69.9K
Average Total Investment:$65K
 

Fees:

Initial Franchise Fee:$40K
Average Franchise Fee:$40K
On-Going Royalty:Varies
Average Royalty:14%
Advertising Fee:5%

Average Number of Employees:

   4-6 Full-time, 2 Part-time

Space Needs (in square footage):

   400+

Preferred Sites:

   Free-standing Building, Storefront, Strip Center, Regional Mall

Other Sites:

   Kiosk

Encourage Conversions?

   No

Earnings Claims Provided?

   No

Listed in the SBA Registry?

   No

Support and Training

International Franchise Association:Yes
Canadian Franchise Association:Yes
Franchisee Association/Member:No
Size of Corporate Staff:303
Site Selection Assistance?Yes
Lease Negotiation Assistance?Yes
Financial Assistance?Yes, Indirect
 

Marketing Support:

Co-Op Advertising:No
National Advertising:Yes
Regional Advertising:Yes
Local Advertising:Yes
Marketing Materials:Ad Slicks, Brochures, Catalogs, Coupons/rebates, Direct Mailers, Emails, Promotional Items, Radio Ads, Site Signs, Television Ads, Trade Show Exhibits, Videos
Additional Services:Grand Opening, In-house Marketing, Marketing Research, Newsletter, Online Extranet, Press Releases, Sales Strategies
Other Marketing Support:Adbuilder, Daily Conference Call During Tax Season
 

On-Going Support:

Central Data Processing:Included in Fees
Central Purchasing:Included in Fees
Field Operation Evaluation:Included in Fees
Field Training:Included in Fees
Initial Store Opening:Included in Fees
Inventory Control:Included in Fees
Franchisee Newsletter:Included in Fees
Regional or National Meetings:Included in Fees
800 Telephone Hotline:Included in Fees
 

Training:

1. Virginia Beach, VA-Initial, Intermediate, Advanced5 Days
2. Various Cities - Intermediate, Advanced3 Days
 

Franchisee Qualifications

Ranked from 1 (unimportant) to 5 (important):
 
Financial Net Worth:2
General Business Experience:4
Specific Industry Experience:2
Formal Education:1
Psychological Profile:1
Personal Interview(s):5

Minority Representation

Units Owned by Minorities:

African-American:216
Asian-American:69
Hispanic:176
Native American:1
Other:357
Specific Minority:Member of SBA registry, Financing Referrals, Equipment Financing, Lease Negotiations, Managerial Training, Mentoring, Sale-Leaseback, Business Plan Template

Terms of Contract

Term of Initial Contract:5 Year(s)
Term of Renewal Period:5 Year(s)
Passive Ownership:Allowed
Area Development Agreements?Yes, for 10 Year(s)
Sub-Franchising Contracts?No
Franchisees Allowed to Expand Within Territory?Yes

Expansion Plans

Projected New Units Over Next 12 months:

   500
U.S.:Yes, All United States
Canada:Yes
Overseas:No
 
 
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