H and R Block Franchise Business Review

Intro

H&R block was founded in 1955 by two brothers Henry and Richard Bloch and has become one of the world's largest tax preparation business's.  Today H&R Block serves more than 500 million clients in the U.S., Canada and Australia.  In addition to the physical store locations this business franchise has in home online software that has become widely used.

Franchise Benefits

With more than 50 years of business experience the H&R Block franchise system understands the needs of their clients and develops, sustains and implements systems to support the franchisee in the growth of their business.  In addition to the experience,  a franchisee of the H&R block tax preparation service has very strong brand recognition, being a house hold name across the world.

In addition, the franchise business, due to it's large presence, spends a significant amount of money marketing nationally, which will help benefit local franchisee's.  The marketing budget is typically derived from the on going franchise and royalty fees paid by you, the franchisor.

Start Up Costs

According to the H&R Block Franchise they are one of the lowest cost franchises available with no initial franchise fee.  This is not typical in the franchise industry as many of the competitors will charge $24,000 - $39,000 for the franchise fee.  H&R does require a $2500 security deposit.

Of course, as a business owner you will have all the "hard costs" of a business such as, licensing and permits, tax training, office location build out, office lease, furniture, computers, utilities, taxes, employees, insurance and the other costs associated with operating a business.

Conclusion

The H&R block franchise business is a great low cost franchise for the business person seeking to enter into the tax preparation field.  Take into consideration, the competitive nature of this business and the "seasonal" fluctuations within the market.  In addition, to the local competition, the onset of online software has made it extremely easy for people to do their own taxes avoiding the fees of a company like H&R block.

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