Industry Analysis & Industry Trends
Over the past five years, the industry has experienced solid growth as the unemployment rate fell and caused more Americans to file tax returns. Additionally, as per capita disposable income has risen, more consumers have had the resources to afford bringing their taxes to tax professionals. Although improving economic conditions are expected to support industry revenue growth over the next five years, some operators' performances will be stunted, as online providers threaten traditional brick-and-mortar establishments that are unable to adapt to the changing landscape... purchase to read more
Industry Report - Industry Key Buyers Chapter
The Tax Preparation Services industry is highly fragmented, with nonemployers or small firms comprising the vast majority of operators. This level of fragmentation is prominent for industries with lower market share concentration and the ability for smaller operators to carve out a niche corroborates that, as well. In 2016, IBISWorld estimates that almost 50.0% of industry revenue will be captured by the four largest players. This includes major company H&R Block, which is composed of hundreds of small operators that are either company owned or operate as a franchise. H&R Block is a clear market leader, controlling a significant share of the market due to their proliferation in major cities.
More than 80.0% of employer firms have fewer than 10 employees. Furthermore, almost 75.0% o.. purchase to read more