Catering to the Underserved Latino Market Sets the Tax Preparation Franchise Apart
When Flor Paulino invested in her two Bronx, N.Y., ATAX franchises in November 2021, she already knew what to expect. As an ATAX employee, she had an insider’s look at what business ownership with the tax preparation franchise was all about — and she liked what she saw. After several years working for a local ATAX franchise owner as a tax preparer, she finally decided to go into business for herself.
Paulino saw ATAX as a good investment for many reasons: She recognized that the tax preparation industry was always in demand and recession-proof (e.g., death and taxes); she could see that there was a lot of room to grow the business; and she loved the model and niche concept. But most of all, Paulino knew that she could make a difference by owning an ATAX franchise. “The best part of this business is being able to help others,” she says. “The tax laws are constantly changing, and we are able to help people navigate the confusing system.”
The Underserved Latino Market
ATAX has the distinction of being the nation’s first Latino-owned tax preparation, bookkeeping/payroll franchise. Its mission is to “Have Fun, Improve Lives.” According to Forbes, the Latino market is worth trillions and is the largest and fastest growing of the American economy. McKinsey & Company estimates that the Latino consumer base currently has more than $100 billion in unmet needs, which could grow six-fold to $660 billion.
Backed by parent company Loyalty Brands, ATAX leverages an untapped market. Loyalty Brands CEO John T. Hewitt saw a tremendous opportunity with the tax preparation franchise and partnered with ATAX in 2019. A legend in both the tax industry and in franchising, Hewitt has put thousands of people in business with his franchised tax concepts, Jackson Hewitt and Liberty Tax Service. After successfully launching, building and selling both companies, his next mission is growing ATAX to become a major player in the industry. And he’s well on the way. ATAX currently has 103 locations open and 917 more in development.
At its core, ATAX embodies diversity. The company supports the International Franchise Association’s DiversityFran program, which helps IFA members tap emerging markets and promotes diversity in franchising. At the local level, ATAX owners support and serve diverse communities. Paulino welcomes and respects diverse clients and employees from all different cultures and nationalities. “I love diversity,” she says. “It helps bring in new ideas and different perspectives.” With a great team and support from her franchisor, Paulino is excited for continued growth with ATAX. Her secret for successful franchise ownership is simple: “follow the system.”
About the ATAX Franchise
ATAX Franchisee Benefits
- Untapped market
- Ground-floor opportunity
- Low cost of entry
- Niche concept
- Backed by Loyalty Brands
- In-demand service
ATAX Year-Round Services
- Tax preparation
- Incorporation services
- Free ITINs (Individual Taxpayer Identification Numbers)
ATAX Fun Facts
- ATAX has multiple locations inside Walmart stores in Puerto Rico.
- ATAX opened 10-plus co-branded locations with Estrella Insurance, serving tax and insurance needs in one place.
The Growing Tax Preparation Industry
The tax preparation services industry in the U.S. has grown 3.9% per year on average between 2018 and 2023. According to IBISWorld, the industry was worth $14.4bn in 2023 and is expected to increase 0.8% this year.
For more information about the ATAX franchise, visit https://ataxfranchise.com/.