Trends and Facts About Tax Franchises
As people deal with a further lack of time and increasingly more complicated tax codes, reliable tax services have become even more essential. And the numbers bear this out. According to some sources, over half of Canadian tax filers use a professional tax preparer.
Whether clients own a business or need assistance with their personal taxes, lots of people need help with their taxes—and many turn to franchises.
Top tax franchises in Canada include: H&R Block, Liberty Tax Service, Padgett Business Services, TaxAssist Accountants, and Trans Canada Tax Service. These franchises and their counterparts tend to have an advantage in gaining new business over their independent counterparts via name recognition.
When it comes to finding a service provider to handle their money, people are likely going to deal with a party they have at least some familiarity with. Franchises tend to have established brand names that, in many instances, have been around for years. Tax franchisees are given the right to associate their business with that particular tax franchise company’s name, trademarks, and logo helping them establish familiarity in the marketplace from the start.
In addition, another one of the biggest benefits to owning a tax franchise is the technological support. Over the years, technological advances—particularly in the area of software—have revolutionized the field. However, those quick advances can be hard to keep up with for an individual accountant.
By being a part of a franchise system, tax franchisees can depend on the franchisor to assist them with staying on top of ever-changing trends that will help them better serve their clients, streamline their operations, as well as keep up with changes in tax codes and compliance.
If you think a tax franchise could be for you, click on the “Request Free Info” button for any of the franchises above you’re interested in and fill out the contact form today!