KANSAS CITY, MO (MARKETWIRE via COMTEX) -- "When the going gets tough, the tough get going" isn't just a bromide administered by football coaches before the big game. A new study* shows that when economic times are tough, a recession can encourage entrepreneurs to kick-start their own business opportunities.
Now those entrepreneurs may have the chance to acquire existing H&R Block (NYSE: HRB) locations being offered as franchises. H&R Block plans to convert up to 300 of a pool of 500 company-owned offices to franchises through this initiative this fall and winter. This provides a compelling opportunity for entrepreneurs already operating in or interested in the tax business.
The IRS projects the number of electronic returns filed by professional tax preparers will reach 66.5 million by 2010, a 16 percent increase from 2007. And the number of e-filed returns will continue to rise, with a 3 percent annual increase predicted through 2015. To take advantage of that potential, H&R Block combines seasoned local tax preparation talent with the resources of the industry leader.
"There is no better time to join forces with the leader in the tax industry. As one of the country's most recognized brands, H&R Block has processes and tools in place that can help you realize your business goals, whether you are a current independent tax firm or an entrepreneur," said Ken Treat, senior vice president of franchise development at H&R Block.
Equipped for Opportunity
H&R Block is offering a unique opportunity to qualified entrepreneurs. New and established offices across the country are being offered as franchise locations. The existing offices have an established client base, equipment and experienced tax professionals that enable the franchisee to take over and immediately begin developing the market as an H&R Block franchise.
"H&R Block believes that success will be driven through a hands-on operator involved with the business," Treat said. "As such, these locations will be sold to entrepreneurs who will dedicate their time and enthusiasm to the business."
H&R Block will provide franchisees a defined territory, along with:
In addition, H&R Block continues to convert existing independent tax preparation businesses providing development capital and a royalty rebate on existing clients. For those currently operating their own tax business who may be considering ways to grow, H&R Block can help you meet your growth objectives.
Franchisees with H&R Block reap benefits that include:
H&R Block Inc. (NYSE: HRB) is the world's preeminent tax services provider, having prepared more than 500 million tax returns since 1955. In fiscal 2009, H&R Block had annual revenues of $4.1 billion and prepared more than 24 million tax returns worldwide, utilizing more than 120,000 highly trained tax professionals. The Company provides tax return preparation services in person, online through H&R Block Online, through its TaxCut(R) software and through other channels. The Company is also one of the leading providers of business services through RSM McGladrey.
SOURCE: H & R Block