- 2023 Franchise 500 Rank
-
N/R Ranked #360 last year
- Initial investment
-
$44K - $79K
- Units as of 2021
-
2,683 19% over 3 years
Liberty Tax Service is a tax preparation service that has locations in both the United States and Canada. It is one of the largest tax preparation franchises in the country, with over 2,500 franchised locations all over North America. In 1997, John Hewitt of Jackson Hewitt Tax Service acquired the Canadian franchise and gave it the name we know today.
As a franchisee, you’ll not only provide friendly, professional tax services in person but provide support for online services, as well. Customers have access to a W4 withholding calculator to figure out their income online, a mileage reimbursement calculator, and a reimbursement adjustment calculator. As a franchisee, you might also handle tax debt relief services, car insurance, roadside assistance, and more.
Why You May Want to Start a Liberty Tax Service Franchise
If there’s one thing that life guarantees, it’s taxes, and that's something that will likely never go out of style. Besides always being in demand, Liberty Tax Service designs its franchise process to ultimately benefit franchisees and your customers.
The company makes their brand one of the more affordable startups to invest in so you can grow quickly. It also leaves you money to customize your franchise location and really make it your own. With the franchise comes their iconic sign-twirling Lady Liberty mascot. Who says taxes aren’t fun?
This is a company that can truly benefit you as a franchisee, and give you the opportunity to change your clients’ lives. They’ll be able to learn taxes as you help them with their debt, questions, and tax anxiety. You’ll soon become one of their first choices when they search for “tax accountants near me.”
What Might Make a Liberty Tax Service Franchise a Good Choice?
Opening a Liberty Tax Service franchise means that the low startup cost could better benefit you in the future. But, as you should know, the franchise is only as good as the person running the business and offering services.
To be part of the Liberty 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. In addition, you should be prepared for ongoing fees that will include advertising fees and royalty fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements.
How to Open a Liberty Tax Service Franchise
Liberty Tax Service makes opening a franchise as straightforward a process as possible. The first step is to request information and a representative may be in touch with you. Thereafter, they will arrange for you to participate in a live conference call. You’ll then attend discovery day, a private meet-and-greet to speak with other franchisees, learn about the Liberty Tax Service culture, and discuss the Franchise Disclosure Document.
If all works out, you’ll fill out and submit the confidential franchise application and initial investment. On the company’s end, they’ll review your territory request, application, and set up a formal interview. After you complete their effective operations training, you’ll sign the paperwork that makes your franchise official.
Company Overview
About Liberty Tax Service
- Industry
- Financial Services
- Related Categories
- Tax Services, Business Financial Services
- Founded
- 1972
- Parent Company
- NextPoint Financial
- Leadership
- Brent Turner, CEO
- Corporate Address
-
500 Grapevine Hwy., #402
Hurst, TX 76054
Business Overview
- Franchising Since
- 1973 (2023-1973 years)
- # of employees at HQ
- 285
- Where seeking
-
This company is offering new franchisees throughout the US.
This company is offering new franchisees in the following international regions: Canada
- # of Units
- 2,683 (as of 2021)
Information for Franchisees
Here's what you need to know if you're interested in opening a Liberty 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
Information Circle - $20,000 - $40,000
-
Initial Investment
Information Circle - $43,700 - $78,900
-
Net Worth Requirement
Information Circle - $100,000 - $250,000
-
Cash Requirement
Information Circle - $75,000
-
Veteran Incentives
Information Circle - $15,000 off franchise fee; special financing
-
Royalty Fee
Information Circle - 14%
-
Ad Royalty Fee
Information Circle - 5%
-
Term of Agreement
Information Circle - 5 years
- Is franchise term renewable?
- Yes
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- In-House Financing
- Liberty Tax Service offers in-house financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll
- Third Party Financing
- 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
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
- 12 hours
- Classroom Training
- 30 hours
- Ongoing Support
-
Purchasing Co-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresLease NegotiationField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
-
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
Operations
Additional details about running this franchise.
- Is absentee ownership allowed?
- Yes
-
Can this franchise be run from home/mobile unit?
Information Circle - No
-
Can this franchise be run part time?
Information Circle - No
- # of employees required to run
- 5-10
-
Are exclusive territories available?
Information Circle - Yes
Interested in ownership opportunities like Liberty Tax Service? Request a free consultation with a Franchise Advisor now.
Franchise 500 Ranking History
Compare where Liberty Tax Service landed on this year's Franchise 500 Ranking versus previous years.
Additional Rankings
Curious to know where Liberty Tax Service ranked on other franchise lists? Find out below.
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