Instant Tax Service was the brain child of Fez Ogbazion in the year 2000. Ogbazion started his first tax business, Instant Refund Tax Service, as a college student from Ethiopia in 1994. It grew to have dozens of locations and hundreds of clients before he sold the business to Jackson Hewitt in 1999. With the proceeds of this sale, Ogbazion moved to Dayton, Ohio and founded Instant Tax Service. By 2004, he had over 100 offices in several states and began franchising. They currently have over 1,200 US franchise locations specializing in professional tax preparation, expedited refunds, and loans for anticipated refund loans. They offer the convenience of either local or online filing options. They are still headquartered in Dayton, Ohio and are seeking new franchise locations nationwide.

Instant Tax Service franchises are offered exclusive territories. This reduces any potential competition between franchises but also limits the owner to a specific region. Based on your location, you would need to decide if this is a positive or negative situation. Start-up costs will vary according to the cost of acquiring (purchase or lease) commercial office space. The estimate on costs is roughly $40,000 to $90,000, which includes a franchise fee of $34,000. There is an ongoing royalty fee of 20%, which can put a healthy dent into your bottom line so make sure to give this proper consideration. The initial agreement term is 5 years and is renewable at the end of the term. In-house financing of the start-up costs and equipment is available and there is a minimum net worth requirement of $10,000. You do NOT need to have tax preparation experience.

Most Instant Tax Service franchises are owner-operated but it is not required. Most franchisees own more than one location. Training and support is offered by the parent company, as is co-op and regional advertising. More information can be obtained by contacting the company headquarters.