August 17, 2009 // Franchising.com // Instant Tax Service®, Entrepreneur Magazine's #1 new franchise, has reported an increase in franchise sales this year over last, and has already executed franchise agreements or accepted deposits from 70 new franchisees in 124 new territories.
"We're only halfway through our franchise sales season," says Brook Wise, Vice President of Franchise Recruitment, "but this year's numbers have already surpassed our expectations. A lot of motivated, entrepreneurial people are having a tough time getting back into the job market. For these people, going into business for themselves is an excellent alternative to the uncertain job market."
According to a recent article in the New York Times, entrepreneurs have traditionally thrived in weak economies. However, it often takes several months for the formerly employed to realize that there are alternatives to fruitless job searches. That's when many turn to entrepreneurship.
"I was just a college kid when I started my first business, so I know what it's like to struggle," says Fez Ogbazion, CEO of Instant Tax Service. "But tough times are the best time to start a business. While larger companies are going under, entrepreneurial companies like ours are growing to fill the gap."
Instant Tax Service has been offering franchising opportunities to entrepreneurs since 2004. The company has experienced incredible growth over the last five years, and now has over 1,200 locations nationwide. Ogbazion attributes this success to the company's low startup costs, affordable franchising fees, and recession-resistant industry.
"Even in a tough economy," says Ogbazion, "taxes don't go away. It's a great time to be in the tax business."
Instant Tax Service® is a retail income tax preparation company franchising over 1,200 locations in 34 states. Founded by Fez Ogbazion in 2000 and franchising since 2004, Instant Tax Service offers tax preparation, electronic filing, and refund anticipation loan services.