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Market & Industry

Since 1861 Americans have paid income tax.  There are currently over 140 million taxpayers in the United States, and that number is expected to grow with industry influencers such as the Affordable Care Act & pending Immigration Reform.  Tax preparation franchises offer a uniquely reliable seasonal business with inherently high customer demand and low overhead costs.

Market & Industry Information

  • Large & Reliable Customer-Base 
    • 140+ million individuals and 2.4 million corporations filed tax returns last year. 
    • 82 million tax returns are prepared by paid tax preparation professionals, 23% of which are handled by tax franchises 
    • 32,000 tax preparation firms generate approximately $7.7 billion in revenue
    • The majority of tax preparation firms have less than 10 employees 
     
  •   Growth Influencers 
    • Employment Rate
      • When the employment rate rises, so does the number of eligible tax filers.       
    • Affordable Care Act
      • Confusion surrounding new laws, processes, and paperwork due to the Affordable Care Act is expected to drive more individuals to trained tax preparation professionals.    
    • Immigration Reform
      • With pending changes to United States immigration policies, millions of undocumented workers are expected to file taxes in the near future. 
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