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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 is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

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 - 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

 


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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