10/10

Franchimp Summary Rating

10 /10
Lower than 9% of peers

Franchise Summary

Description
The franchise offered is the opportunity to open up a bookkeeping, tax filing, and/orCFO services business building on the existing brands of MyTaxFiler and GlobalCFOService. From income tax solutions, business formation payroll processing to business consulting and corporate taxation services, MyTaxFiler offers end-to-end financial solutions for businesses and individuals in the United States. MyTaxFilerprovides clientswith top-quality tax and consulting services, so theyare free to shine at what theydo best –manage theirbusiness. GlobalCFOService provides virtual CFOservices to businesses to provide added valueto theirbusiness and enhance profitability by being compliant to the norms and rules. GlobalCFOServiceprovides high level strategic and financial advice
Company Background
MyTaxFile is a company that offers tax and bookkeeping services for individuals and businesses. We help clients with income taxes, payroll processing, business consulting, and more to ensure they are free to shine at what they do best: manage their business.
Franchise Opportunity
You've worked hard to build your business. Now it's time for you to enjoy the fruits of your labor, but there are a few things standing in your way. The biggest obstacle is that most accountants and tax advisors aren't very tech savvy, so they can't keep up with all the new tools available to help you run your business more efficiently. They may also have outdated software or charge high fees for simple services like bookkeeping and payroll processing. As a result, many small businesses waste money on unnecessary accounting fees while their owners lose precious time managing day-to-day operations instead of growing their company. MyTaxFiler offers affordable online bookkeeping and CFO services that make it easy to manage finances from anywhere at any time - no more waiting until tax season just get answers when you need them! Plus our flat monthly fee eliminates surprises since we never charge by the hour or use hidden fees like some other CPA firms do

Employee Contact Database

# Name Position Phone Number Email Address

FAQ

How much investment do I need to start my own MyTaxFiler business?
Franchisees typically require at least $42,250 to $68,000 investment to get their MyTaxFiler business started
What are the initial franchise fees for MyTaxFiler?
Franchisees typically need to pay at least $25,000 in fees directly to MyTaxFiler in order to earn the right to launch their business
How much money can I make with a MyTaxFiler franchise? What are the average revenues for a typical MyTaxFiler business?
We haven’t done the math on how much revenue a typical MyTaxFiler brings in each year. We estimate that other franchisees in the Professional Services industry generate $932,459 revenue, so we would expect MyTaxFiler to generate a similar amount
How long do I need to commit to running a MyTaxFiler unit? What is my contractual commitment?
The standard length for an initial franchise contract is 10 years. Renewals are also generally 10 years

Accessibility

10 /10
The Franchisor's investment costs ranges from $19,500 to $62,000 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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