A bookkeeping Franchise provides services like tracking transactions, controlling debits and credits, creating and paying invoices, and managing payroll. Financial technology is now used by bookkeeping franchises to improve efficiency and additional errors. Additionally, this technology can enable them to handle a heavier workload.
Franchises that offer bookkeeping services frequently work with small to medium-sized companies as well as individuals. Even though larger businesses are likely to have an internal accounting team, some jobs or tasks may be outsourced. You must have a thorough knowledge of bookkeeping or accounting procedures in order to successfully run the franchise as its owner and operator.
Top 5 Reasons for Buying a Bookkeeping Franchise Business for Sale
With your own hands and money, it can be challenging to launch a business from scratch. However, purchasing a bookkeeping franchise might help you gain the necessary market traction. Less risk, less effort on your part, and more affordable investment are all yours to enjoy.
Continue reading to know more about the reasons why you should consider purchasing a bookkeeping franchise, even as a newcomer.
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Economical investment for booxkeeping franchise
A bookkeeping franchise does not involve significant initial investments to operate. Purchasing a franchise will cost much less than building your own business from scratch. Another benefit is that you can request the selling franchisee to cover your franchise transfer fee.
2. Increased demand for franchise in Bookkeeping
Many freelancers were seen searching the internet for additional freelance careers during this pandemic. Home-based bookkeeping is a lucrative job that both you and independent contractors can use.
3. Flexibility for Bookkeeping franchises
Being your own boss is the best advantage of purchasing a bookkeeping franchise. You can design a work schedule that works with your preferences, setup, and way of life.
4. Constructability
You don’t want to invest hundreds of dollars in trying to keep the doors open when starting a new business. Franchises in bookkeeping are simple to launch and need little setup or equipment. Due to how simple it is to expand the franchise, you will have no financial strain or headaches.
5. Regular Workload
There are times when a company is unable to handle a lot of business or fails to provide enough for everyone. A bookkeeping franchise, however, can offer a consistent flow of clients with predictable workloads. Every reporting period may start off busy, but you will be aware of it when it does.
Top 10 Best Bookkeeping Franchise business opportunities for sale
You can find below the comprehensive list of the best and top virtual and active booking and accounting firm franchise opportunities for sale in the United States and Canada.
1. Succentrix Business Advisors
Founded in 2014 and franchised since 2015, Succentrix Business Advisors has rapidly grown to encompass 33 franchise units, making it a success in the industry. The franchise presents a unique and forward-thinking approach to support next-generation accountants with its cloud-based and interconnected system.
Catering to aspiring entrepreneurs, Succentrix Business Advisors provides a comprehensive range of services, including tax preparation, payroll assistance, and essential business support. With an initial investment ranging from $39,100 to $50,700, and an Initial Franchise Fee of $24,900, the company offers an enticing opportunity for aspiring franchisees. To maintain the franchise’s ongoing success, a 7% royalty fee is applied to franchisees.
2. ATAX
Founded in 1986 and venturing into franchising in 2007, ATAX Franchise, Inc. has flourished into a notable success story, boasting 61 franchise units and counting. The company’s humble beginnings with a mere $200, two computers, and a fax machine evolved into a prominent tax preparation powerhouse, establishing itself as one of the leading providers in New York. With an initial investment range of $64,150 to $79,700 and an initial franchise fee of $40,000.
ATAX stands out as a comprehensive national tax preparation and business services franchise, priding itself on delivering a consistent and superior client experience across the country. This dedication to excellence is supported by their proven business model, a formula for success that has elevated ATAX to become one of the largest independent tax preparation businesses in the entire country.
3. Supporting Strategies
Established in 2004 and delving into franchising in 2013, Supporting Strategies has emerged as a trusted name, rendering efficient and effective accounting and control services to aid the growth of businesses. Specializing in providing comprehensive accounting and operational support to small businesses across multiple cities, Supporting Strategies has successfully alleviated the burden of back-office functions for countless business leaders.
Boasting an impressive 103 franchise units, Supporting Strategies has solidified its position as a prominent player in the industry. The franchise presents an enticing opportunity for aspiring business owners, with an initial investment range of $77,930 to $103,190 and an initial franchise fee of $60,000. Additionally, a 10% royalty fee ensures ongoing support and guidance for franchisees.
4. Padgett Business Services
With a rich history dating back to 1965, Padgett Business Services has been a pioneer in the world of franchising since 1975, establishing an impressive network of 292 franchise units. Beyond tax advice and preparation, Padgett franchisees also provide a comprehensive range of services, including business consulting, management financial reporting, credit card processing, payroll solutions, and various other essential business services.
The franchise offers an enticing opportunity for individuals looking to venture into the world of business ownership, with an initial investment ranging from $20,200 to $99,975, a royalty fee of 9%, and an initial franchise fee varying from $15,000 to $56,000.
5. Toro Taxes
Founded in 1990 and franchised since 2015, Toro Taxes has rapidly grown with 144 virtual and office franchise units, offering an attractive opportunity for aspiring business owners with an initial investment of $37,835 to $64,150 and a reasonable franchise fee of $25,000. The franchise provides a proven business model that minimizes risks associated with starting from scratch.
Toro Taxes goes beyond tax preparation, offering supplementary services such as bookkeeping, IRS representation, financial advisory, retirement planning, and more, allowing franchisees to maximize their revenue streams. With a strong focus on supporting franchisee success, Toro Taxes is a trusted partner for entrepreneurs aiming to flourish in the tax preparation industry.
6. Daniel Ahart Tax Service
Established in 2000 and venturing into franchising in 2005, Daniel Ahart Tax Service has swiftly emerged as a prominent player in the retail tax filing industry, currently operating 24 franchise units. With an initial investment ranging from $26,300 to $44,600 and a reasonable initial franchise fee of $12,500, the company presents an enticing opportunity for aspiring business owners seeking to tap into the market.
Daniel Ahart Tax Service prides itself on providing state-of-the-art tax preparation services, with the added benefit of free e-registration upon payment of tax preparation fees, along with a range of banking products, including outstanding loans. The company offers clients flexible filing options, including a no-cash alternative, catering to diverse needs and preferences.
7. Payroll Vault Franchising LLC
Established in 2007 and commencing franchising in 2012, Payroll Vault Franchising has rapidly grown its network to encompass 58 franchise units. The franchise presents a lucrative opportunity for aspiring entrepreneurs with an initial investment ranging from $49,313 to $65,769 and an initial franchise fee of $40,000.
Headquartered in Greenwood Village, Colorado, Payroll Vault Franchising operates as a comprehensive small business solution, specifically catering to the needs of local small and medium-sized businesses, aiding them in achieving their growth objectives more efficiently. Founded by a skilled consultant accountant who recognized the advantages of separating payroll from traditional accounting practices, Payroll Vault Franchising has emerged as a national leader in the industry.
8. Jackson Hewitt Tax Service
Established in 1985 and venturing into franchising in 1986, Jackson Hewitt has expanded its franchise units to an impressive count of 3,671. The initial investment required to join this full-service tax office franchise ranges from $49,000 to $79,805, with an initial franchise fee of $7,500.
Specializing in the computerized preparation of individual federal and state tax returns, Jackson Hewitt has been at the forefront of tax innovation, coinciding with the IRS’s introduction of electronic registration in the same year it began franchising. The franchise’s mission is to provide hardworking clients with accessible and cost-effective solutions for managing their taxes and tax returns with ease.
9.H&R Block
Established in 1955 and commencing franchising in 1956, H&R Block, founded by brothers Henry and Richard Bloch, has an extensive network of 3,447 franchise units. With an initial investment ranging from $31,557 to $149,398 and an initial franchise fee of $2,500, the franchise has a remarkable legacy of filing over 600 million tax returns.
Beyond personal tax filing services, H&R Block also provides a range of financial services, including online and desktop software products. H&R Block Tax Services LLC franchisees have the opportunity to prepare tax returns and may even qualify to offer accounting, payroll, and training services.
10.Liberty Tax Service
Established in 1972 and commencing franchising in 1973, Liberty Tax has become the third-largest franchise in the United States, boasting an impressive 2,509 franchise units. The initial investment required to be a part of this franchise ranges from $43,700 to $78,900, with an initial franchise fee varying from $20,000 to $40,000.
Specializing in tax filing services, Liberty Tax operates approximately 4,000 Liberty Tax Service offices across the US and Canada, processing over two million individual tax returns annually. The franchise welcomes individuals from diverse backgrounds, united by a common goal: to own and operate a successful national tax office with the potential to expand into the financial services sector.
Should You Buy Bookkeeping Franchise Business for Sale?
If you possess bookkeeping expertise, hold a CPA license, or possess a knack for numbers and aspire to be your own boss, you’ll find these bookkeeping franchise opportunities exceedingly appealing. As the small business landscape continues to expand rapidly, the demand for reliable financial services is set to surge even further.
Embracing one of these franchise opportunities not only leverages your skills but also taps into a thriving market, ensuring promising growth prospects for your venture. With the ever-increasing number of startups and entrepreneurs seeking professional bookkeeping and financial assistance, the potential for success in these franchises is truly compelling.
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