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Tax Preparation Franchises in Australia: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Tax Preparation Franchises Market Research Report | Business Franchises | Finance & Business Advisory Franchises | Mar 2015

Numbers crunched: An increase in unemployment limits revenue growth

IBISWorld’s Tax Preparation Franchises market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Market Share of Companies
H&R Block H&R Block market share
ITP Australia ITP Australia market share
Industry Statistics & Market Size
Revenue
$199m
Annual Growth 10-15
2.1%
Annual Growth 15-20
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Profit
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Employment
1,965
Businesses
121
Industry Analysis & Industry Trends

The industry's main advantage in gaining customers is the ability to maximise tax returns for clients, or minimise losses. Tax preparation franchises also know the types of deductions able to be claimed without breaking any tax 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 expects to submit their tax returns each year.

Although the industry experiences fewer swings compared with the overall economy, its fortunes are influenced by employment conditions, income levels, and investment levels. Weaker demand for tax preparation services in tough conditions reflects individuals' lower capacity and willingness to pay for tax services... purchase to read more

Industry Report - Industry SWOT Analysis Chapter

The industry is in a mature stage of its industry life cycle. Over the decade through 2019-20, industry value added (the industry's contribution to national GDP) is expected to grow at a compound annual rate of 1.9%. This is lower than projected GDP growth over the same 10 years of 2.7% annualised. Although profit margins are expected to decline over the ten years due to greater competition, more companies are expected to enter the industry.

There remains industry growth opportunities as franchisors convert existing independent operators to their brand and expand into growing regional cities. The extension of their business offerings in the light of the growing baby boomer generation and self-managed super funds (SMSFs) will be able to sustain the industry's growth... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Tax Preparation Franchises Industry?

Industry participants provide tax-return preparation services and operate as part of a franchise business structure. The industry includes businesses that are owned directly by the franchisor. Operators do not provide accounting, bookkeeping, billing or payroll process services.

Industry Products
Personal tax return servicesInvestment tax return servicesSmall business tax return servicesOther tax services
 
Industry Activities
Tax consultation servicesTax return preparation servicesTax review services Tax consultation servicesTax return preparation servicesTax review services


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