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- 2023 Franchise 500 Rank
#253 Ranked #221 last year
- Initial investment
$49K - $82K
- Units as of 2022
5,483 5% over 3 years
Filing taxes can be, well, taxing, but with a Jackson Hewitt Tax Service franchise, you can provide your community with local and reliable tax services.
Jackson Hewitt Tax Service is one of the largest in-person tax service franchises in the U.S. It specializes in preparing computerized federal and state tax returns. Jackson Hewitt Tax Service has more than 5,000 locations, making it relatively convenient for clients to get assistance. Of those locations, more than 3,500 of them are operated by franchisees.
Why You May Want to Start a Jackson Hewitt Tax Service Franchise
Jackson Hewitt Tax Service offers its franchisees support ranging from field support to advertising to software. They also offer help site selection and much more. In short, you may be able to open your franchise business without the extra burden of ironing out the technicalities that come with starting a business.
Additionally, you do not need to have prior experience in the taxation field to run a Jackson Hewitt Tax Service franchise. All you need to have to open a franchise with the company is business experience and the funds necessary to cover the costs. Owing to the seasonal nature of tax seasons, you may be able to take up the franchise as a side business. The flexibility can allow you to dictate how to spend your time without compromising the health of your franchise.
What Might Make a Jackson Hewitt Tax Service Franchise a Good Choice?
To be part of the Jackson Hewitt Tax Service team, you should make sure you’re financially ready for an initial investment made up of a franchise fee and other startup costs. Additionally, you should be prepared for ongoing fees that will include advertising fees and royalty fees.
Every time you search online for 'tax advisors near me,' a Jackson Hewitt Tax Service franchise may pop up. They owe part of their reputation to their highly accurate services, making your franchise viable for tax returns and repeat customers.
As a franchisee, you will be tasked with helping individuals and corporations analyze and file their taxes. You can choose to either do the work yourself or employ certified accountants. One Jackson Hewitt Tax Service franchise may operate in multiple locations, potentially allowing you to expand your reach.
How to Open a Jackson Hewitt Tax Service Franchise
Before making any financial commitment or signing a franchise agreement, you must perform your due diligence and establish if this is the right opportunity for you. Speak to existing franchisees and ask questions directed to the Jackson Hewitt Tax Service team.
As you decide if opening a Jackson Hewitt Tax Service franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a franchise location would do well in your community. If there are multiple other tax service businesses in your area, then you may want to reconsider your location of choice.
To get started with the process of opening a Jackson Hewitt Tax Service franchise, submit an inquiry form. If you are seen as a good fit, a franchise representative may reach out to you to begin the process.
About Jackson Hewitt Tax Service
- Financial Services
- Related Categories
- Tax Services, Business Financial Services
- Parent Company
- Jackson Hewitt Inc.
- Greg Macfarlane, CEO
- Corporate Address
10 Exchange Pl., 27th Fl.
Jersey City, NJ 07302
- Franchising Since
- 1986 (37 years)
- # of employees at HQ
- Where seeking
This company is offering new franchisees throughout the US.
- # of Units
- 5,483 (as of 2022)
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Jackson Hewitt Tax Service franchise.
Financial Requirements & Ongoing Fees
Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
- Initial Franchise Fee
Definition: The initial fee paid to a franchisor to join their system
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.
- Initial Investment
- $49,200 - $81,805
Definition: The total amount necessary to begin operation of the franchise
What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.
- Net Worth Requirement
Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company
What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.
- Veteran Incentives
- 20% off franchise fee
Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.
- Royalty Fee
Definition: A ongoing fee paid to the franchisor on a regular basis.
What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.
- Ad Royalty Fee
Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts.
What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.
- Term of Agreement
- 10 years
Definition: The length of time your franchise agreement will last.
What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.
- Is franchise term renewable?
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- In-House Financing
- Jackson Hewitt Tax Service offers in-house financing to cover the following: equipment, inventory
- Third Party Financing
- Jackson Hewitt Tax Service has relationships with third-party sources which offer financing to cover the following: startup costs
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- On-The-Job Training
- 34 hours
- Classroom Training
- 35 hours
- Ongoing Support
Purchasing Co-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail Marketing
Additional details about running this franchise.
- Is absentee ownership allowed?
Definition: Absentee ownership means that the franchisee does not actively work in the franchise business or manage day-to-day operations.
- Can this franchise be run from home/mobile unit?
Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.
- Can this franchise be run part time?
Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.
- # of employees required to run
- Are exclusive territories available?
Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened.
What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.
Interested in ownership opportunities like Jackson Hewitt Tax Service? Request a free consultation with a Franchise Advisor now.
Franchise 500 Ranking History
Compare where Jackson Hewitt Tax Service landed on this year’s Franchise 500 Ranking versus previous years.
Curious to know where Jackson Hewitt Tax Service ranked on other franchise lists? Find out below.
Are you eager to see what else is out there? Browse franchises that are similar to Jackson Hewitt Tax Service.
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