Industry Analysis & Industry Trends
Tax preparation franchises mainly service individuals and small businesses. The industry players’ main advantage in gaining these customers is their ability to maximise tax returns or minimise losses for clients. Tax preparation franchisees also know the types of deductions that can be claimed without breaking any taxation laws. While the rise of online tax submissions may limit future industry growth over the next five years, the majority of people are expected to continue to engage tax experts to submit their tax returns each year.
Although the industry is less volatile than many other industries and the overall economy, its fortunes are influenced by employment conditions, average household income, and investment levels... purchase to read more
Industry Report - Industry Locations Chapter
While the industry remains steady in terms of enterprise locations, the distribution of industry establishments generally coincides with population trends and, to a smaller degree, the geographical level of economic activity. This is reflected in downstream major markets, with individuals and small businesses key drivers of demand. As a result, there are a higher number of industry franchise establishments within New South Wales and Victoria, as well as Queensland, where the population has increased steadily over the five years through 2015-16. Overall, these three states are expected to account for 79.1% of industry enterprises in 2015-16.
IBISWorld expects more rural franchises may be established or relocate to regional and coastal city locations in the next five years... purchase to read more