Industry Analysis & Industry Trends
The Tax Preparation Franchises industry will not diminish in significance; however, the rise of tax submissions via the internet may dampen industry participants' exuberance. The global financial crisis, which resulted in the loss of jobs and income led to fewer tax returns being lodged. Of those lodged, nearly 70,000 more were lodged via e-tax while those submitted through agents and various means fell by 400,000. The weaker demand for tax preparation services in tough conditions reflects individuals' lower capacity and willingness to pay for tax services. Although the industry experiences less swings compared with the overall economy, its fortunes are undoubtedly tied to employment conditions... purchase to read more
Industry Report - Industry Locations Chapter
While the industry remains steady in terms of enterprise locations, the distribution of industry establishments slightly 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 to 2012-13.
IBISWorld expects that a number of rural franchises may relocate to coastal city locations in coming years due to the ease of individual tax lodgements and a small number of businesses in rural locations... purchase to read more