Michael Fair
Kenosha, WI (USA)
Role(s):
Founder/Owner/Principal
Tax Professionals LLC
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Startup
Location:
Kenosha
Industry:
Accounting
Year Founded:
2008
Number Employees:
1-10 people
Description:
I am seeking funding as a franchisee. The franchise is "Instant Tax Service", one of the fastest growing franchise operations in America. Currently, there are 1,200 locations in 10 states. The company is aggressively marketing and I have done a great deal of research on the opportunity. The franchisor offers a great deal of help to assure the success of new startups including financing of up to $20,000 of the franchise fee at zero percent interest.
Instant Tax Service values these stores at two times gross revenue. Average gross for a startup is $51,000 first year, and $187,000 in the third. Thirty-Four percent of the 1,200 existing locations did better. My franchise territory will be in southeast Wisconsin and there will be 2-3 employees initially including myself. The franchise will be similar to H&R Block and Jackson Hewitt (both of which are franchise operations) but we will not be competing with either head to head.