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 SWOT Analysis Chapter
The industry is in a mature stage of its industry life cycle. Over the decade through 2020-21, industry value added (the industry's contribution to national GDP) is expected to grow at a compound annual rate of 2.2%. This is lower than projected GDP growth over the same 10 years of 2.6% annualised. Although profit margins are expected to decline over the ten years due to greater competition, more companies are expected to enter the industry.
Industry growth opportunities remain 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