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Padgett Business Services

2014 Franchise 500
#188
At a Glance

Products & Services: Financial, payroll, consulting and tax services

Number of Locations: 400

Total Investment: $99.8K - $99.8K

Founded: 1965

Began Franchising: 1975

About Padgett Business Services

The first Padgett Business Services office opened in the 1960's to help small business owners with their taxes. In 1975, the company began expanding through franchising, and its services have expanded as well. In addition to tax advice and preparation, Padgett franchisees offer business advice, management financial reporting, credit card processing, payroll solutions and other business services.

Franchise Units

Year U.S. Canadian International Company Owned
2014 277 123 0 0
2013 279 123 0 0
2012 296 120 0 0
2011 308 122 0 0
2010 302 116 0 0
Where Seeking Franchisees: Franchisor is seeking new franchise units throughout the U.S. and Canada.
Direct Capital

Startup Costs, Ongoing Fees and Financing

Total Investment: $99,835
Franchise Fee: $56,000
Ongoing Royalty Fee: 9%+
Term of Franchise Agreement: 10 years, renewable
Veteran Incentives: $4,000 off franchise fee
Financial Requirements
Net Worth: $100,000
Liquid Cash Available: $100,000
Operations
0.5% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 1. Absentee ownership of franchise is NOT allowed. (100% of current franchisees are owner/operators).
Direct Capital
Financing Type In-House Third Party
Franchise Fee
Startup Costs
Equipment
Inventory
Accounts Receivable
Payroll

How This Franchise Supports Franchisees

Training: Available at headquarters: 10 days. At franchisee's location: 6 days. At annual marketing convention & tax seminar
Ongoing Support: Newsletter, Meetings, Toll-free phone line, Internet, Purchasing cooperatives
Marketing Support: Ad slicks,
Other marketing support: Marketing materials

Franchise Ranking History

Franchise 500®: #188 (2014), #108 (2013), #86 (2012), #86 (2011), #107 (2010),
Fastest-Growing: #102 (2010),
Top Home-Based: #20 (2013), #19 (2012), #21 (2011), #31 (2010),
America's Top Global: #109 (2013), #73 (2012), #72 (2011), #87 (2010),

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