Profitable and Established Tax Service

Depew, NY
Erie County


Asking Price: Annual Revenue:
$290,000 $309,627

Services: Financial, Accounting, Insurance


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RE: Profitable and Established Tax Service Broker: Carl Knickerbocker
Owner Financing is Available!
Seller will consider financing part of the purchase with personal guarantees acceptable to the seller

Quick Facts

Asking Price: $290,000
Annual Revenue: $309,627
Net Profit: $126,179
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: $25,000
Real Estate: Not Disclosed
Year Established: 1999
Employees: 11
BBN Listing #: 394362378
Broker Reference #: Tax01

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Business Overview:

This well established and profitable 22-year-old tax preparation franchise has over 2,600 clients with an average fee of $121 per return. Experience with tax preparation/accounting is not a necessity. Training will be provided, and experienced employees are in place. This business can be operated on a full-time basis or as an absentee owner. Busy season is from January through April. Great business for someone that does other seasonal work later in the year, a second career after retirement, or a business looking to expand their clientele, services, or to develop an additional stream of revenue. Also, a fantastic opportunity to enter the world of self-employment in a recession proof business.

This business has an 85% retention rate for customers which is the highest in the entire 3,000 franchise across the United States and Canada.

The franchisor is the third largest tax preparation in the United States. 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. The pandemic of 2020 did not negatively impact this business!

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Property Features and Assets:

Property is for sale ($200,000) but not included in the listed price of the business. Buying the property is not required for buying the business but there is a lease in place for $1,800 per month in lieu of purchase. The property is a 2,900 square foot house with 3 bedrooms, 2.5 baths and parking for 7 vehicles. The business operates out of the first floor of the house. The buyer can live in the house or use it as a rental property.

Market Competition and Expansion:

Large & Dependable Customer-Base • 140+ million individuals and 2.4 million corporations filed tax returns last year. • Eighty-two 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

Reason for Selling:

Retirement

Additional Details:

  • The property is leased.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is a franchise resale opportunity.

Relevant Links:

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