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ExpressTax
EXPRESSTAX was a tax service provider and subsidiary of famed tax giant H&R Block. In 2011, EXPRESSTAX prepared almost 100,00 tax returns, generating roughly $3,000,000 in royalty fees for H&R Block. Alas, these figures were not up to snuff and H&R Block closed the 269 EXPRESSTAX locations in October of 2011, offering most of the franchisees the chance to join the regular H&R Block team instead. Throughout its years of operation, H&R Block has prepared over 500 million tax returns.
Facts & figures
Due to its discontinuation, franchising opportunities for EXPRESSTAX are no longer available. However, H&R Block does offer its own franchises. H&R Block franchisees go through training at the corporate offices to promote success. Financing is available through a Franchise Equity Line of Credit.
EXPRESSTAX Franchise Opportunities - History
In 2006, H&R Block purchased the EXPRESSTAX chain with 300 locations. Within two years, the company grew its new offshoot to over 500 sites. Unfortunately, the number of EXPRESSTAX locations dropped down to under 300 by 2010. Upon closing, many EXPRESSTAX locations converted to one of over 11,000 H&R Block spots throughout the United States.
EXPRESSTAX Franchise Cost / Initial Investment / EXPRESSTAX Franchise
Income
EXPRESSTAX had a franchise fee of $1,500 to $2,500 for a ten-year agreement, with a total initial investment of between $15,400 and $40,100. Franchisees also had to pay a whopping royalty fee of 35%. To join H&R Block, franchisees should expect a total initial investment of between $35,510 and $136,200. H&R Block does not charge a franchise fee, but a $2,500 refundable security deposit is required to start the process.
EXPRESSTAX Business Opportunities: Other Information
Bill Cobb, the CEO of H&R Block, said that EXPRESSTAX was “no longer a growth driver and therefore not a good fit for our company.” That said, H&R Block is still thriving. One in seven Americans have their taxes prepared with H&R Block, plus the majority of Americans live within five miles of an H&R Block office.
