Franchise Summary
Description
The franchise that we offer is for a business that provides services for the preparation and filing of income tax returns and related services and products (each, a "Franchised Business" or "Toro Taxes Business"). The Franchised Business may be established as either a full-service Toro Taxes store or a seasonally operated Toro Taxes kiosk.
Company Background
Toro Tax is a tax preparation franchise that specializes in income tax filing. The company helps small businesses by providing services for the preparation and filing of income tax returns. Toro Tax offers different models to suit its clients' needs, including full service or kiosk-based locations during seasonal times.
Franchise Opportunity
Tax season is stressful. You have to gather all your paperwork and then prepare a complicated tax return for yourself or your business. Preparing taxes can be time-consuming, confusing, and expensive. It's hard to know who you can trust with this important task. Toro Tax offers professional tax preparation services at affordable prices in an easy to use format that saves you time and money every year! With our help, filing taxes has never been easier! We guarantee 100% accurate returns filed on time so there are no penalties or surprises after the fact. Our team of experts will take care of everything from start to finish so you don't have to worry about making mistakes or missing deadlines while saving you up to 40 hours of work each year!
Corporate Structure
Toro Tax Franchising LLC is a Nevada limited liability company, formed on October 23, 2014. Their principal business address is 1800 East Sahara Avenue, Suite 106, Las Vegas, Nevada 89104.
Royalties and Marketing Fees
Royalties : 10% of Gross Sales (excluding Gross Sales for Business Division Services and Non-Bank Product Transactions) and $30 for each NonBank Product Transaction. Subject to minimum royalty fee obligation of $3,000 for first Tax Season, $6,000 for second Tax Season, and $9,000 for third Tax Season and each Tax Season thereafterFor the first 12 months of business, you will pay a Royalty that is the greatest of 6% of your ?Gross Revenue? (Percentage Royalty) or $400 (Minimum Royalty). You may be awarded the right to Additional Territories, in which case your Royalty may increase, and if you reach certain levels of sales, your Royalty may be reduced.
Royalties : 2% of Gross Sales
Royalties : 5% of Gross Sales
Earnings Transparency
This Franchise discloses much less information 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
Franchise Types Available
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Employee Contact Database
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Toro Taxes Franchise System Development in 2022
FAQ
How much investment do I need to start my own Toro Taxes business?
Franchisees typically require at least $17 to $79 investment to get their Toro Taxes business started
What are the initial franchise fees for Toro Taxes?
Franchisees typically need to pay at least $5 in fees directly to Toro Taxes in order to earn the right to launch their business
How much money can I make with a Toro Taxes franchise? What are
the average revenues for a typical Toro Taxes business?
We haven’t done the math on how much revenue a typical
Toro Taxes brings in each year. We estimate that other
franchisees in the Professional Services industry generate
$952,375 revenue, so we would expect
Toro Taxes to generate a similar amount
How long do I need to commit to running a Toro Taxes unit? What
is my contractual commitment?
The standard length for an initial franchise contract is 10 years. Renewals are
also generally 10 years
Accessibility
The Franchisor's investment costs ranges from
$17,835 to $79,150
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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