KANSAS CITY, MO (MARKETWIRE via COMTEX) -- Entrepreneur magazine released their 31st Annual Franchise 500 list, and H&R Block (NYSE: HRB) landed at No. 6 for 2010. In addition to being selected sixth overall, H&R Block was ranked number one in the "Tax Services" and "Low-Cost Franchises" categories and number five in the "America's Top Global Franchises" category.
"H&R Block has been franchising for more than 50 years," said Ken Treat, senior vice president of franchise development at H&R Block. "As one of the country's most recognized brands, H&R Block has processes and tools in place to help franchisees realize their business goals, whether they are an independent tax firm or an entrepreneur. We're honored to be listed among the top franchisors in the country."
According to Entrepreneur*, the magazine used an array of objective, quantifiable criteria to rank the franchisors, such as financial strength and stability, growth rate and size of system. Other factors included start up costs, litigation, percentage of terminations, and whether the company provides financing.
Part of what makes H&R Block such a compelling and perennial franchise opportunity can be attributed to two constants: everyone in the U.S. must pay taxes and the tax code continues to get more complex each year.
H&R Block began franchising in 1956, with the first locations in New York City -- making it the second-longest franchisor in the top 10. Today, more than a third of the company's 13,000 locations are franchise. In 2009, H&R Block successfully converted nearly 300 company-owned offices into franchise locations and opened another 95 new franchise locations.
*Entrepreneur, Jan. 2010, http://www.entrepreneur.com/franchises/franchise500/about.html
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 100,000 highly trained tax professionals. The Company provides tax return preparation services in person, through H&R Block At Home(TM) online and desktop software products, and through other channels. The Company is also one of the leading providers of business services through RSM McGladrey.
SOURCE: H & R Block