EagleTax USA
Many customers are intimidated by income tax regulations and have little time to spare for tax preparation. In response to this demand, Eagle Tax franchise has created a convenient, easy solution to meet their needs. Eagle Tax franchise hasrelationships with well known banks thatenable franchisees to provide products that can assist customers in quickly obtaining their income tax refunds with a refund anticipation loan (RAL). These refund loans enable taxpayers to forgo paying out-of-pocket tax preparation fees. Similar products are available for direct deposit.
The Eagle Tax business opportunity offers a turnkey system includes easy-to-use industry-leading tax preparation software, complete furniture and fixtures package, branded marketing, computers, and office supplies, as well as assistance with leasehold improvements and installation.
| |
Operating Units |
12/31/2008 |
12/31/2009 |
12/31/2010 |
|---|
| | Franchised |
3 |
21 |
25 |
| | % Change | -- |
600% |
19% |
| | Company-Owned |
0 |
0 |
0 |
| | % Change | -- |
-- |
-- |
| | Total |
3 |
21 |
25 |
| | % Change | -- |
600% |
19% |
| | Franchised as % of Total |
100% |
100% |
100% |
Investment Required
The initial fee for an EagleTax USA franchise is $25,000. The initial franchise fee is $10,000 if the franchisee executes an agreement with to operate a United Check Cashing Center.
EagleTax USA provides the following range of investments required to open your initial franchise. The range assumes that all items are paid for in cash. To the extent that you choose to finance any of these expense items, your front-end investment could be substantially reduced.
| |
Item | Established Low Range | Established High Range |
| | Franchise Fee |
$10,000 |
$25,000 |
| |
Lease Deposit |
$0 |
$4,000 |
| |
Initial Advertising |
$2,000 |
$5,000 |
| |
Leasehold Improvements |
$500 |
$15,000 |
| |
Equipment, Furnishings, Fixtures, Supplies, and Signs |
$6,000 |
$25,000 |
| |
Licenses, Prepaid Insurance and Professional Services |
$500 |
$2,000 |
| |
Expenses While Training |
$100 |
$1,500 |
|
Additional Funds (3 Months) |
$0 |
$20,000 |
| |
Total Initial Investment |
$19,100 |
$97,500 |
Ongoing Expenses
EagleTax USA franchisees pay ongoing royalty fees equal to 14% of the gross volume of business plus an advertising fee equal to 3% of the total gross volume of business.
What You Get—Training and Support
The Eagle Tax Franchise Training Group provides comprehensive classroom instruction at Eagle Tax's National Training Center in Philadelphia where franchisees learn how to conduct effective income tax interviews, how to prepare individual tax returns using IRS approved income tax software, and all the necessary tools for running a retail income tax office.
Additionally, the Eagle Tax Franchise Operations Team assists in troubleshooting day-to-day issues during tax season and throughout the year. The Eagle Tax Franchise Operations Team provides ongoing tax business coaching based on income tax industry trends, income tax law changes, best practices, and software updates. In addition to operations, franchisees can take advantage of the marketing programs provided by the Eagle Team Marketing Department.
Territory
EagleTax USA grants protected territories.
Note: The tables and information regarding the number of operating units, investment required, on-going expenses, training and territory grants were taken from the company’s 2011 FDD. The 2011 write-ups will be incorporated into the 2011 Edition of Bond’s Hottest New Franchises publication.
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