Worsening Economy is Driving Job Seekers to Self-employment

VIRGINIA BEACH, Va.--(BUSINESS WIRE)--Forced retirement, job cutbacks, and economic uncertainty all point to a safety net of a recession-proof franchise opportunity. Liberty Tax Service is experiencing a tremendous response to its franchise opportunity. "When job security goes away, many people decide to take the future into their own hands," according to John Hewitt CEO and Founder of Liberty Tax Service. (www.libertytaxfranchise.com). The company offers low start-up costs and the certainty of filing income tax returns to provide an enticing business opportunity that's a part of the American way of life.

In 2008, the gloomy forecast is that corporate layoffs could increase up to 37 percent. Contrast that with the tax industry that historically has delivered a growing market of taxpayers every year. Approximately 62% of all taxpayers paid someone to prepare their taxes in 2008, up from 51% in 1994.

Liberty Tax and CEO John Hewitt are garnering many accolades for a superlative franchise opportunity that welcomes a diverse America to join its ranks. Hewitt has 39 years of tax industry experience, the most of any CEO in the tax preparation business. He is the only founder of two franchises that Entrepreneur magazine has ranked in the top 25 of their Franchise 500: Liberty Tax Service and Jackson Hewitt Tax Service (NYSE:JTX).

"Our franchisees continue to be the cornerstone of our success. For the sixth year in a row, Liberty grew by more returns (raw numbers) than H&R Block and Jackson Hewitt combined," noted Hewitt. "We are focused on providing an affordable opportunity for new franchisees, and great support so that our existing franchisees can add additional offices. These key factors will allow us to open a projected 400 new offices for tax season 2009."

Liberty Tax franchising is a fit with various life scenarios: keeping a day job while starting a franchise, entry into the tax business with little or no experience, and the challenge of a busy seasonal business.

A tax background is not a requirement. Top performing Liberty Tax franchisee, Annie Fuller of Newberry, South Carolina lacked any previous tax experience. "I followed the Liberty Tax Service system, held tax schools for training, and hired the best people who were stars in the customer service arena," said Annie. "I'm obviously not a bean counter." By Tax Day, April 17th 2007, Annie's first-year Liberty Tax office in Newberry finished #1 in the entire Liberty Tax Service operating system for first-year stores with a company record of 1658 returns prepared. She was first in the system for second year offices in 2008.

About Liberty Tax Service:

Founded in 1997 by CEO John T. Hewitt, Liberty Tax Service has prepared over 6,000,000 individual income tax returns. The Liberty Tax franchise opportunity is ranked highly on Entrepreneur's "Franchise 500" for affordability, low cost and overall potential. The company is a member of the International Franchise Association and its MinorityFran and FranVet outreach programs. John Hewitt is available for interviews on franchising issues and entrepreneurial advice.

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