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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 | Feb 2016

Prepare the way: Improvements to e-tax forces industry players to diversify their offerings

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
$206m
Annual Growth 11-16
2.7%
Annual Growth 16-21
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Profit
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Employment
2,011
Businesses
124
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 - Starting a New Business Chapter

Barriers to entry are moderate for new industry participants. While the knowledge requirement is higher (similar to many service-based industries), the industry remains predominantly skill-based. Short-term tax courses, diplomas and degrees in accounting and taxation enable people to become qualified to work in the industry. Further, industry employees are able to prepare tax submissions under an authorised and trained tax expert, without requiring specific tax qualifications.

Capital required to operate in the industry includes an annual franchise fee, and possibly rent and utilities for the premises of which the franchise would operate. Another requirement is the registration process and registration fee required before becoming a paid tax preparer... 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 Other taxation services


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