Supply Inventory
connect-item
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Upon ordering

Paramount Tax & Accounting

Table of Content
1. Franchise Snapshot
2. Franchise Overview
3. Performance and Metrics
4. Our Take
5. Additional Resources

1. Franchise Snapshot

Franchise Status
Active
Basic Information
Industry
Business & Professional Services
Category
Accounting & Bookeeping
Investment Range
$74,100 - $166,000
Total US Locations
74
Franchise Units
72
Founding Year
2008
Started Offering Franchises
2018
Management Capacity
Owner Operator
Job Count
3
Prior E2 Investors?
Yes
Prior Visa Franchise Clients?
Yes
Royalty Fee
10%
Marketing Fee
N/A
Franchise Fee
$40,000
Headquarters (City, State)
Draper, UT
Square Footage
100 - 100
Retail Location?
Yes
Agreement Term Length
10 Years
Video

In these videos you will learn about the company firsthand. And they will also tell you in a short form about the financing of the enterprise.

*Information presented in these videos may change over time and may not reflect the most current franchise offering. Prospective franchisees should review the latest Franchise Disclosure Document (FDD) and consult directly with the franchisor for updated information.

2. Franchise Overview

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Overview

Paramount is a professional tax and accounting firm that utilizes licensed professionals such as CPAs, EAs and Attorneys to provide value to individuals and businesses throughout the United States. They offer a broad range of accounting firm services. Through dedication to the three underlying principles of professionalism, responsiveness & quality, Paramount is committed to providing outstanding service to its clients.

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Management team / founders

Paramount Tax was founded by John Wilhelm, its CEO and CFO who have served in both positions since its inception. Wilhelm has been a CPA for over twenty years. He was a business major at BYU and USC, and has served as a CFO-at-large for a number of companies prior to founding Paramount. With extensive experience in both the taxing industry as well as with franchising overall, Wilhelm has become more than well prepared to provide its incoming franchisees with all the support and guidance required so as to ensure their franchise's success.

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Focus of owner for daily business operations

As an Paramount Taxing operator, the main facets of the business entail: 1. Managing your staff; 2. Attracting and retaining clients; 3. Conducting local marketing efforts to attract and retain clients; 4. Review of financials, business metrics and marketing.

3. Performance & Metrics

Franchisor Fees | Item 6
Franchise Value
Industry Median
All Franchises Median
Royalty Fee
10%
9%
6%
Marketing Fee
N/A
2%
2%
Franchise Fee
$40,000
Total Investment Cost | Item 7
Type of Expenditure
Low Amount
High Amount
When due
Initial Franchise Fee
$40,000
Upon signing franchise agreement
Real Estate / Rent (3 months + deposit)
$0
$12,000
Upon signing lease
Utilities (setup + 3 months)
$0
$3,000
Upon ordering
Leasehold Improvements
$0
$10,000
As incurred
Initial Marketing
$0
$5,000
As incurred
Startup Package
$20,000
$25,000
Upon ordering
Furniture, Fixtures, Equipment
$0
$5,000
As incurred
Insurance
$500
$3,500
Upon ordering
Signage
$300
$3,000
Upon ordering
Office Expenses
$0
$2,000
As incurred
Supply Inventory
$100
$2,000
Upon ordering
Licenses and Permits
$0
$1,000
Upon application
Dues and Subscriptions
$700
$2,000
As incurred
Professional Fees (lawyer, accountant, etc.)
$0
$3,000
As incurred
Travel, Lodging, Meals for Initial Training
$2,500
$4,000
As incurred
Additional Funds (first 3 months)
$10,000
$45,500
Varies
Total Estimated Initial Investment:
$74,100
$166,000
Outlets and Franchisee Information | Item 20
Outlet type
Year
Outlets at the start of the year
Outlets at the end of the year
Net change
N/A
2021
18
34
+16
Franchised
2022
34
45
+11
N/A
2023
45
72
+27
N/A
2021
2
1
-1
Company-Owned
2022
1
2
+1
N/A
2023
2
2
0
N/A
2021
20
35
+15
Total Outlets
2022
35
47
+12
N/A
2023
47
74
+27
Net Unit Growth (Recent year)
Net Unit Growth (Recent 3 years)
Franchise Health Metrics
Growth Rate
1 year / 3 years
Failure Rate
1 year / 3 years
Franchise for Sale Rate
1 year / 3 years
Paramount Tax & Accounting
Industry median
Franchise Health Metrics
Franchise Historical Loan Metrics
10 Year Cumulative Charge Offs by $ of Loans
10 Year Cumulative Defaults
3 Year Predicted Default Rate
*Please note the information provided here is sourced from Lumos. We do not guarantee its accuracy or completeness. For verification, please refer to Lumos directly.
Item 19 – Financial Performance Representations
Historical financial performance representations
Franchise Financials
Franchisor company financial information, if disclosed by the franchisor.
Litigation & Bankruptcies
% of Franchisees Undergoing Litigation
1.30%
% of Franchisees with Completed Litigation
1.30%
Number of Bankruptcies Disclosed
0
*The litigation information displayed has been reviewed by our Product Development team. Franchises featured on this platform have been thoroughly assessed. However, Visa Franchise strongly recommends consulting with your own legal counsel for further guidance.

4. Our Take

Paramount Tax and Accounting provides a great opportunity for an investor looking to be an active owner-operator. The proven success of the business's revenue model and the experience of the ownership team make the investment relatively safe. Additionally, the brand's offering of multiple as well as recurring revenue stream provides potential investors with a variety of business opportunities.