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2022 Franchise 500 Rank
#360 Not ranked last year
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Initial investment
$44K - $79K
Units as of 2021
2,683 19% over 3 years

Here’s what you need to know if you’re interested in opening a Liberty Tax Service franchise.

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.

Find Your Perfect Franchise

Company Overview

About Liberty Tax Service

Founded
1972
Parent Company
NextPoint Financial
Leadership
Brent Turner, CEO

Franchising Overview

Franchising Since
1973 (49 years)
# of employees at HQ
285
Where seeking

This company is seeking new franchisees throughout the US.

This company is seeking new franchisees in the following international regions: Canada

# of Units
2,683 (as of 2021)

Franchisor Information

Corporate Address
500 Grapevine Hwy., #402
Hurst, TX 76054

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
$20,000 - $40,000
Initial Investment
$43,700 - $78,900
Net Worth Requirement
$100,000 - $250,000
Cash Requirement
$75,000
Veteran Incentives
$15,000 off franchise fee; special financing
Royalty Fee
14%
Ad Royalty Fee
5%
Term of Agreement
5 years
Is franchise term renewable?
Yes
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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
Additional Training
Additional training in various cities
Ongoing Support
Purchasing Co-ops
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
Marketing Support
Co-op Advertising
Ad Templates
National Media
Regional Advertising
Marketing Planning & Support
Social Media
SEO
Website Development
Email Marketing
Loyalty Program/App

Operations

Additional details about running this franchise.

Is absentee ownership allowed?
Yes
Can this franchise be run from home/mobile unit?
No
Can this franchise be run part time?
No
# of employees required to run
5-10
Are exclusive territories available?
Yes
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Interested in franchise ownership 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.

Stock History for Liberty Tax Service

Ticker Symbol for Liberty Tax Service: NACQF

Additional Rankings

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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise by Entrepreneur Media. Our franchise listings and rankings are solely research tools you can use to compare franchise operations. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise. That should include reviewing the franchisor's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees.
Updated: February 8th, 2021