#45

Initial Investment

LOW: $58,700
HIGH: $71,900

Change in Units

-9.2% -375 UNITS (1 Year)
-11.2% -457 UNITS (3 Years)

Company Profile

Founded

1972

Franchising Since

1973 (43 Years)

Corporate Address

1716 Corporate Landing Virginia Beach, VA 23454

CEO

John Hewitt

Parent Company

JTH Tax Inc.

Ticker Symbol

About Liberty Tax Service

In 1997, John Hewitt, founder of Jackson Hewitt Tax Service, acquired a tax company that had been franchising in Canada since 1973. The company changed its name to Liberty Tax Service and now offers franchises throughout the United States and Canada.

Financials

Financial Requirements

Initial Investment

$58,700 - $71,900

Net-worth Requirement

$50,000

Liquid Cash Requirement

$50,000

Ongoing Fees

Initial Franchise Fee

$40,000

Ongoing Royalty Fee

14%

Ad Royalty Fee

5%

Financing Options

Liberty Tax Service offers in-house financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll

Liberty Tax Service has relationships with third-party sources which offer financing to cover the following: 
franchise fee, startup costs, equipment, inventory, accounts receivable, payroll

Veteran Incentives


20% off franchise fee, special financing

Franchise 500® Rank History

Highest Rank: 3

Lowest Rank: 45

Units (Locations)

Where Seeking Franchisees:
Franchisor is seeking new franchise units worldwide.

Operations & Franchisor Support

Training Onsite: Varies

Training at headquarters: 1 week

Additional Training: Additional training in various cities

Ongoing Support
Purchasing Co-ops
Newsletter
Meetings
Toll-Free Line
Grand Opening
Internet
Security
Field Operations

Marketing Support
Ad Slicks
National Media

Absentee Ownership Allowed

Number of employees required to run: 5 - 10

Related Franchises

Related Articles

3 Tax Issues That Will Challenge Business Owners in 2016

3 Tax Issues That Will Challenge Business Owners in 2016

Watch out for changes in health care, tax extenders and business identity theft in the New Year.
John Hewitt
Fastest Growing Franchises of 2010

Fastest Growing Franchises of 2010

Check out our list of the systems that outpaced the rest amid a challenging economic environment.
Tracy Stapp Herold
Why NBA Players Might Soon Look Like Soccer Players

Why NBA Players Might Soon Look Like Soccer Players

The league is considering letting marketers use players' jerseys for advertisements.
Lindsay Friedman
1-800-Flowers Boss Determined to Avoid Breaking Customers' Hearts This Valentine's Day

1-800-Flowers Boss Determined to Avoid Breaking Customers' Hearts This Valentine's Day

'Things do go wrong. It's how the company responds to those challenges that really makes a difference.'
Lindsay Friedman
This B2B Franchisee and Former Baseball Manager Believes He Hit One Out of the Park

This B2B Franchisee and Former Baseball Manager Believes He Hit One Out of the Park

Bill Papierniak was a minor league general manager in Richmond, Va. Today, the deals he's inking are with Cartridge World.
Entrepreneur Staff

Disclaimer

The Franchise 500 is not intended to endorse, advertise, or recommend any particular franchise. It is solely a research tool you can use to compare franchise operations. Entrepreneur stresses that you should always conduct your own independent investigation before investing money in a franchise.

Updated: July 30th, 2015

Reprints & Licensing
Update Your Listing
Submit New Listing

Regions/States List

More Franchise Rankings

Top Low-Cost Franchises

87 franchises for under $50,000

Top Homebased/Mobile Franchises

These 100 businesses can be managed from home

Fastest-Growing Franchises

These companies have shown rapid unit expansion over the last two years

Top New Franchises

The top 75 companies that began franchising in the last five years

Top Global Franchises

200 North American franchisors seeking international franchisees

For reprints and licensing questions, click here.

Previous Years Rankings

2016 2015 2014 2013 2012