Padgett Business Services Franchise Information
Padgett Business Services is a franchise for a business providing payroll, financial, tax services, and consulting services.
It was founded in 1965 and started franchising in 1975. The first location was opened in 1966 and what they aimed for then was to help small business owners keep themselves compliant with their tax matters. For over 40 years, they still help owners with their taxes but they have expanded on also helping them improve their business through providing tax advices, business advices, professional tax preparation, management financial reporting, payroll solutions, competitive credit card processing, and other business services. T
he Chief Executive Officer, Steve Rafsky, says that by helping them do these tasks, they find more time focusing on other important things. They now have 309 locations in the United States and 122 locations in Canada.
What services do they offer at Padgett Business Services?
Tax Services include Income Tax Return, Sales Tax, and Payroll Tax. Their Tax Services are not only available when it is tax season. They believe that you need tax advices all throughout the year so that they can help you minimize tax exposures and you would not be surprised when you are preparing your taxes.
For Financial services, they will provide you with record keeping and administrative tools, they help you make your business government compliant and that you always meet your deadlines, and will be giving you complete monthly reporting. Their Consulting Services provides you with a “Reality Check” that compares your results with the standards in the industry that you are in.
The Padgett Payroll Services is specifically designed for small business so that they are not overwhelmed with getting services from large payroll services. Padgett Connect is small business software is a software that helps small business owners manage daily finances. This software also comes with free support. Other small business resources that they provide include auto calculators, tax calculators, personal finance, debt and credit cards, insurance calculators, mortgage calculators, retirement calculators, investment calculators, business calculators, savings calculators, and loan calculators.
Cost and requirement on running a Padgett Business Services franchise
You need to have a net worth of $100,000 and a total liquid asset of at least $100,000. Expect to be investing about $99,000. The cost of Padgett Business Services franchise fee is $53,000 with an on-going royalty fee of 9% and above. This is for a renewable 10 year term agreement. This franchise can be run from home. You will need one employee to run one location. They allow multi-unit ownership. They do not allow absentee ownership.
What is included in the franchise package?
There will be 10 days training at the headquarters, six days at your locations, and an annual tax seminar and marketing convention. You will be receiving newsletters and a toll free phone number. You will be given access to the internet and purchasing cooperatives. You will also be provided with assistance at the grand opening. Expect to be attending meetings and receiving occasional field evaluations. For marketing support, there will be ad slicks and co-op advertising.
Padgett Business Services Contact Details
You may reach them at:
Address: 160 Hawthome Park, Athens, GA 30606
Phone: (800) 723-4388