H&R Block Expanding Franchise Network
Nationwide initiative offers unique opportunity in down market
September 26, 2011 // Franchising.com // KANSAS CITY, Mo. – As part of its overall growth strategy, H&R Block (NYSE: HRB) seeks to add 100 franchise locations to its 11,000-office network. Last year, the company added more than 120 franchise offices and now is offering additional opportunities to independent tax business owners. H&R Block was the first company in the United States to offer tax preparation franchises more than 55 years ago.
H&R Block plans to grow its network using two business models. One targets independent tax business owners who want to convert their location into H&R Block's franchise network. The other model is for the owners who are ready to retire or are looking for an exit strategy and want to sell their businesses.
"Since the IRS has increased training and testing requirements, now is an ideal time to get operational help and support," said Amy McAnarney, senior vice president for retail tax operations and franchise development at H&R Block. "We have been working closely to monitor and provide feedback to the IRS as it develops and tests the requirements program. In addition, we have several training curriculums designed to help our tax professionals and franchisees prepare for and pass these competency exams."
H&R Block currently has more than 4,300 franchise locations. On average, an H&R Block franchisee owns three locations and has been with the company more than 19 years. Franchise owners operate their locations independently. Franchisees can set their own pricing, hire their own tax professionals and develop local marketing and business growth plans.
"Last year, H&R Block increased its new client base by nearly 19 percent," McAnarney said. "We have many strategic efforts to help our franchisees achieve new client growth, such as our Assisted Acquisition Program. The program helps franchisees identify acquisition opportunities then provides financial support by paying up to 80 percent of the purchase price."
Chris Wilson, an H&R Block franchisee who started with one location in North Carolina, grew his network to eight offices using the Assisted Acquisition Program.
"The Assisted Acquisition Program has allowed me to grow my business at an incredible rate. I could not have achieved this growth without this program," Wilson said.
These are among the many benefits of joining the H&R Block franchise network:
· 97 percent brand recognition
· Local and national advertising
· Customer service center available seven days a week
· Local field support teams that help develop and execute business plans.
H&R Block is offering additional unique opportunities to qualified tax business owners. Established H&R Block company-owned offices across the country are being offered as franchise locations to independent tax business owners who convert their business.
For more information on this unprecedented franchise offering by H&R Block, visit www.hrblock.com/network.
About H&R Block
H&R Block Inc. (NYSE HRB) is one of the world's largest tax services providers, having prepared more than 575 million tax returns worldwide since 1955. In fiscal 2011, H&R Block had annual revenues of $3.8 billion and prepared more than 24.5 million tax returns worldwide, utilizing more than 100,000 highly trained tax professionals. Tax preparation services are provided in company-owned and franchise retail tax offices and through H&R Block At Home™ online and desktop software products, and through other channels. The Company is also one of the leading providers of business services through RSM McGladrey. For more information, visit our Online Press Center at www.hrblock.com.