10 Best Accounting Franchise Opportunities 2024

If you’re interested in helping other businesses improve their operations while also growing your franchise, then here we present the list of “10 Best Accounting Franchise Opportunities 2024”.

Best Accounting Franchise Opportunities

Owning an accounting franchise is not limited to bookkeeping, but it includes services like tax preparation, expense reduction, loan assistance and financing, payroll, invoicing, financial consulting and much more.

So, in this article, we’ve compiled a list of the 10 best accounting franchises that you can start this year and that will help you attain your dream of a successful franchise business.


10 Best Accounting Franchise Opportunities

1. P3 Cost Analysts

Best Accounting Franchise Opportunities- P3 Cost Analysts
Founded in1991
Franchising Since2018
Estimated Outlets39
Initial Investment$68,690-$79,035
Franchise Fees$59,500
Liquid Capital$30,000
Royalty FeesN/A

P3 Cost Analysts is a franchise that helps companies determine if their spending on utility, telecom, waste, recycling, managed print, merchant processing, and property tax expenses is correct. The company has offices across the United States Of America and has been operating since 1991.

It was started with the aim of uncovering the vendor’s hidden errors while finding the most cost-effective ways for the billings. P3 Cost Analysts clientele ranges from small businesses to Fortune 500 companies.

It offers the opportunity to own a franchise business in the booming cost-reduction space. It has a proven system that helps franchisees save on their expenses.

2. Liberty Tax Service

Liberty Tax Service
Founded in1997
Franchising Since1998
Estimated Outlets2700+
Initial Investment$43,700 – $78,900
Franchise Fees$20,000- $40,000
Liquid Capital$75,000
Royalty Fees14%

Liberty Tax Services was started in 1997 when John Hewitt Of Jackson Hewitt Tax Service acquired the Canadian franchise and named it Liberty Tax Services.

It is one of the largest tax preparation franchises in the country. With over 2700+ retail branches and 12,000+ tax professionals operating in both the US and Canada, the company has won the Best Of The Best Award in 2016.

It also ranked among the top franchises in the Entrepreneur magazine’s annual Franchise 500 list every year since 1988. To own this franchise you require a net worth that ranges between $100,000- $250,000.

3. Succentrix 

10 Best Accounting Franchise Opportunities- Succentrix
Founded in2014
Franchising Since2015
Estimated Outlets36
Initial Investment$48,600 – $59,700
Franchise Fees$34,900
Liquid Capital$25,000- $50,000
Royalty Fees7%

Succentrix is a business advisory franchise with an experience of 50 years in tax, accounting, and business advisory services.

The company helps small businesses in payroll, accounting, tax preparation, and bookkeeping. So, as a franchisee, your work will be to assist small businesses in teaching and empowering entrepreneurs to become financially strong.

The name Succentrix came from success, succinct, and concentric. An ideal Succentrix franchisee is someone with a passion for helping entrepreneurs develop skills, experience, and a mindset for growth.

It is also one of the best B2B franchise opportunities that you can own.

4. Payroll Vault LLC

Payroll Vault LLC
Founded in2007
Franchising Since2012
Estimated Outlets56
Initial Investment$65,460 – $99,970
Franchise Fees$56,000 – $76,000
Liquid Capital$100,000
Royalty Fees6%

Payroll Vault LLC is a fast-growing, leading, and innovative company whose main aim is to help businesses manage their payroll operations.

It helps small businesses to avoid penalties by focusing on core business operations. It also helps various businesses deal with payroll processing and workforce management.

By being a part of Payroll Vault LLC, you’ll be working with a growing company that offers the opportunity to run a full-service payroll company with the full support of industry experts and professionals.

5. Padgett Business Services

Padgett Business Services
Founded in1965
Franchising Since1975
Estimated Outlets263
Initial Investment$14,450 – $100,675
Franchise Fees$12,950 – $59,700
Liquid Capital$100,000
Royalty Fees9%

Padgett Business Services is a company founded in 1965 by Walter Padgett. The company focuses on supporting small businesses across America by offering them services such as tax, accounting, payroll, and business consulting services.

If you have decided to be a part of this franchise, then Padgett Business Services is always ready to welcome new franchises. Padgett Business Service is vast and works with startup franchisees to help them achieve their dream.

The franchisors of the company provide all the necessary training on how to handle the finances and how to run the franchise. To own this franchise, you need a net worth of $100,000 and other financial requirements that are given in the table.

6. H&R Block

Founded in1955
Franchising Since1956
Estimated Outlets9,637
Initial Investment$31,700 – $158,317
Franchise Fees$2,500
Liquid CapitalN/A
Royalty Fees6%

H&R Block is operating a tax return preparation business. One out of every seven Americans has their taxes prepared by H&R blocks.

They have prepared more than 800 million tax returns worldwide. Their tax pros can handle the full spectrum of the tax situation.

They also provide consumer tax software, online tax preparation, and electronic filing from their website. The company, situated in Kansas City, also includes payroll and business consulting services.

To get more details on the H&R Block franchise, read our complete guide.

7. Daniel Ahart Tax Service

Daniel Ahart Tax Service
Founded in2000
Franchising Since2005
Estimated Outlets22+
Initial Investment$26,300 – $44,600
Franchise Fees$12,500
Liquid Capital$20,000
Royalty Fees12%

Daniel Ahart Tax Services is one of the growing retail tax filing firms in the country. The company assists both individuals and businesses with tax preparations, accounting, and payroll.

It is currently operating 22+ offices, assisting individuals and businesses with 30+ years of experience. Daniel Ahart Tax Service uses advanced technology to respond quickly to the demands of the changing market and offer customer satisfaction.

To own this franchise, you require a net worth of $100,00, a franchise fee of $12,500, and the initial fee ranging between $26,300 – $44,600.

8. One Stop Tax Services Inc.

One Stop Tax Services Inc.
Founded in2009
Franchising Since2014
Estimated Outlets35
Initial Investment$42,050 – $60,500
Franchise Fees$25,000
Liquid Capital$15,000 – $20,000
Royalty Fees14%

One Stop Tax Services Inc. is a professional tax preparation service provider. It offers personalized tax preparation and business services catered to general public.

As a franchisor it offers advanced tools that helps you run the business operations smoothly. So if you have decided to own this franchise then remember you getting into a franchise that is recession resistant, high return on investment, proven marketing plans, and low-cost investment.

To own this franchise you require to have a net worth ranging from $15,000-$20,000 and franchise fees of $25,000.

9. Happy Tax Franchising

Happy Tax Franchising
Founded in2014
Franchising Since2015
Estimated Outlets132
Initial Investment$30,400 – $66,500
Franchise Fees$20,000 – $25,000
Liquid CapitalN/A
Royalty Fees10%-12%

Happy Tax franchise is a mobile tax preparation tax franchise. Under this franchise, the franchisees don’t have to prepare taxes, they just have to do sales, marketing and business development.

It offer in-house financing that will help you cover the franchise fee, startup costs, equipment, inventory, payroll and accounts receivables.

10. RMH Business Solutions Inc.

Founded in2012
Franchising Since2014
Estimated Outlets1
Initial Investment$41,050 – $71,400
Franchise Fees$30,000
Liquid Capital$35,000
Royalty Fees9%

RMH Business Solutions Inc. is a company that offers everything that a small business owner needs to run and succeed in the industry. It offers services such as tax returns, payrolls, and accounting.

The President of the company, Robert Huckle, realized that the clients need more than just tax reporting services. Hence, he combined several suppliers: one for payroll, one for accounting, and one for business taxes, thus creating a concept that will bring all business solutions under one roof.

To own this franchise, you need a franchise fee of $30,000 and a net worth of $75,000.


When Should You Choose An Accounting Franchise?

Many newbie franchisees jump onto the franchise opportunities after evaluating the franchise model but not themselves. Therefore, here are three questions that will help you evaluate the right time to buy an accounting franchise:

1. Do I Have The Franchise Mindset?

The very first question to ask yourself is, do you have the mindset to start an accounting franchise? Owning a business requires creativity, dedication, attention to detail, and interpersonal skills, but when we talk about franchisees, it comes with a proven model that you only have to implement.

However, as a franchisee, you also require some specific mental aptitudes, such as:

  • Some experience in management, sales, or operations.
  • The mindset to follow the already established business system and operational model.
  • The mentality to accept that you won’t always be able to take the set wage.

2. Am I Motivated Enough To Succeed?

The next step is to ask yourself why you are considering owning a franchise. It might be because you are bored with your monotonous 9 to 5 job or you always wanted to start something of your own.

Whatever might be your motivation, it must be genuine. If you are thinking of owning a franchise to hide your previous failure, then you have got the wrong motivation.

3. Do I Have Enough Finances?

Just like in business, you need capital; in owning a franchise, you need to invest a certain amount specified by the franchisor. You’ll also need the finances to put up with the losses for the first few months. Well, yes, even a franchise suffers from low sales and revenue during the initial days or months.

Therefore, it is necessary to know the source of your finances beforehand and the clarity on how much you have to invest.


Factors To Consider Before Selecting An Accounting Franchise

Before launching your accounting franchise, here are a few factors that you need to consider:

1. Understanding The Competition

Before launching your accounting franchise, it is vital to research the market and understand your competition.

Analyze the strengths and weaknesses of the competitors, understand their techniques, and develop your strategies based on your understanding. You will also have to work to make your accounting franchise differ from your competitors.

2. Franchisor’s Support

A franchisor plays an important role in the success of the franchisee. So, you need to evaluate what role the franchisor will play in making your accounting franchise a success. Evaluate the support you’ll get before selecting an accounting franchise.

Consider factors such as training, marketing support, and ongoing assistance.

3. Track Record Of Sucess

The next factor to consider before investing in an accounting franchise is the franchisor’s track record of success.

You need to check the financial position of the company, and you can even ask the existing franchisees about how successful this business is in a certain area.

4. Financial Requirements

Starting a franchise requires an investment of a significant amount to the franchisor. Therefore, you need to get clarity on the financial requirements of the franchisor before selecting an accounting franchise.

Get clarity on the initial franchise fee, royalty fee, ongoing royalty, and any other expense that you as a franchisee need to cover.


Comparison Of 5 Best Accounting Franchise Opportunities

Company NameP3 Cost AnalystsLiberty Tax ServiceSuccentrix Payroll VaultPadgett Business Services
Founded19911997201420071965
Outlets 392700+3656263
Franchise Fee $59,500$20,000-$40,000$34,900$56,000 – $76,000$12,950- $59,700
Initial Investment $68,690-$79,035$43,700-$78,900$48,600-$59,700$65,460-$99,970$14,450-$100,675
Royalty FeeN/A14%7%6%9%


Conclusion

So overall, when selecting an accounting franchise, considering the above-mentioned factors is more than important. Moreover, when researching about which accounting franchise is the best to own you might have come across infinite options and somehow created chaos.

That is why we compiled 10 best accounting franchise opportunities that you can open in 2024 and fulfill your dream of owning a successful business.


FAQs

Which is the cheapest accounting franchise?

According to our list of best accounting franchises, the cheapest franchise is the P3 Costs Analysts. It requires an initial investment between $68,690-$79,035 but no royalty fees is applicable.

How much does an accounting franchise cost?

The cost of starting an accounting franchise ranges between $14,450 -$158,317.

What is a good profit margin for an accounting firm?

A good profit margin for an accounting firm typically ranges from 15%-20%. However, thus may differ on the basis of location.

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