The franchisee will operate a PADGETT BUSINESS SERVICES ("PADGETT") franchised business offering tax, payroll compliance and reporting services. As a part of providing these services, franchisees will prepare financial statements for management use, provide income tax advice and preparation services, provide payroll services and provide business counseling and related services using forms, systems and procedures authorized by PADGETT.
Company Background
PADGETT BUSINESS SERVICES(R) will soon celebrate its 50th year of providing valuable services to owners of small businesses in 2015. During this entire time, PADGETT has focused on efficient systems to offer small business owners the key information and advice that they need to more simply manage and run their businesses in an ever-growing complex regulatory world. The franchisee will operate a PADGETT franchised business offering tax, payroll compliance and reporting services. As a part of providing these services, our mission is simple: make life easier for your clients by delivering high quality professional service with integrity at competitive prices.
Franchise Opportunity
The problem that small business owners face is that they don't have the time or expertise to manage their own taxes. Most small business owners hire an accountant, but this can be expensive and time consuming. Plus you might not even need all of the services your accountant offers. PADGETT Business Services provides essential tax compliance, payroll and reporting services for a flat monthly fee so you only pay for what you use. We handle all of the paperwork so you can focus on running your business while we get out of your way when we're done with our work!
Corporate Structure
Padgett is a Georgia corporation that was incorporated on June 1, 1988 as “Padgett Business Services USA, Inc.” Our principal corporate address is 400 Blue Hill Drive, Suite 201, Westwood, Massachusetts 02090; our principal franchise support center is at 160 Hawthorne Park, Athens, Georgia 30606.
Royalties and Marketing Fees
Royalties : The greater of 9% (Note 7) of Gross Receipts (Note 2) OR: $50/mo. for the first three months of operation after the First Six-Month Period; $100/mo. for the second three months of operation after the First Six-Month Period; $200/mo. for the third three months of operation after the First Six-Month Period; $300/mo. for the fourth The greater of 9% (Note 7) of Gross Receipts (Note 2) OR: $50/mo. for the first three months of operation after the First Six-Month Period; $100/mo. for the second three months of operation after the First Six-Month Period; $200/mo. for the third three months of operation after the First Six-Month Period; $300/mo. for the fourth three months of operation after the First Six-Month Period; $400/mo. for the fifth three months of operation after the First Six-Month Period; $500/mo. for the next consecutive 9 months of operation after the First Six-Month Period; $600/mo. for the next consecutive 12 months of operation after the First Six-Month Period; $750/mo. for the remainder of the Franchise Agreement term.
Royalties : Up to 2% of Gross Receipts
Earnings Transparency
10 /10
This Franchise discloses far more about the financial performance of their franchisees compared to other franchises in the same industry.
Why do some franchises disclose more than others?
There are many reasons why a brand may choose to not include item 19 on their FDD: they could be a newer franchise, they may be in a unique industry that is not super profitable or well-known yet
Financial Performance of "Standard" Units
Average Revenue Per Unit
Compared vs. Business-Related Industry
$451,535 / unit
Franchise Type: Standard
Average Revenue During 2021
$451,535
$24,112 Industry Low
$553,602 Industry High
Franchise Types Available
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Type
Investment
Fees
Employee Contact Database
#
Name
Position
Phone Number
Email Address
Distribution of Padgett Business Services Franchisees
Padgett Business Services Franchise System Development in 2022
FAQ
How much investment do I need to start my own Padgett Business Services business?
Franchisees typically require at least $14 to $74 investment to get their Padgett Business Services business started
What are the initial franchise fees for Padgett Business Services?
Franchisees typically need to pay at least $12 in fees directly to Padgett Business Services in order to earn the right to launch their business
How much money can I make with a Padgett Business Services franchise? What are
the average revenues for a typical Padgett Business Services business?
We estimate that the average revenue of an individual
Padgett Business Services unit is approximately
$451,535. We based this on Item 19 in franchise disclosure
document
How long do I need to commit to running a Padgett Business Services unit? What
is my contractual commitment?
Padgett Business Services franchisees are typically required to sign up to a
10 year contract initially. The renewal length
is 10 years. You can of course exit early but
don’t expect to get any refund!
Accessibility
9 /10
The Franchisor's investment costs ranges from
$14,450 to $74,100
which is
Much Lower
than the $0 to $0 average in the Business-Related industry
What determines the investment cost?
Item 7 of the Franchise Disclosure Document lays out the full list of initial investment costs, including the fee payable to the franchisor, security deposits, equipment, professional fees etc
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