ATAX Franchise and Loyalty Brands Join Forces to Expand Nationwide and to Serve the $2.13 Trillion US Latino Market
ATAX Franchise and Loyalty Brands Join Forces to Expand Nationwide and to Serve the $2.13 Trillion US Latino Market
ATAX Franchise is thrilled to announce that they have joined Loyalty Brands to fuel their rapid national expansion in serving the thriving Latino community, both the individual taxpayer and business owner. Rafael Alvarez, Founder, and CEO of ATAX will continue to lead the venture alongside Arthur Garcia, the current President, and COO. Since 1986, Mr. Alvarez has been serving the needs of the Latino community from the East coast. This venture will help the company expand by bringing together two industry pioneers: Mr. Alvarez and John Hewitt CEO of Loyalty Brands. Combined they have over 84 years of experience in the tax preparation industry. Mr. Hewitt’s track record of success includes over 50 years of experience in the tax preparation industry and the founder of 2 of the 3 most profitable franchise companies (Jackson Hewitt and Liberty Tax) in the Country. For Mr. Hewitt, this is the third time that he is entering the space, he sees the incredible opportunity to serve the more than 50 Million Individuals in the US who Identify as Hispanic or Latino/a. He selected ATAX as a partner based on their track record as a franchisor for over 12 years, as well as establishing the first Latino owned Franchise in the tax preparation, payroll, and bookkeeping industries in the US.
For Mr. Alvarez, this venture helps accelerate the existing strategy and complements it with the experience of a proven Franchising veteran in Hewitt. “Together we will create the largest Latino Franchise company with thousands of locations throughout the country,” says Mr. Alvarez. According to Mr. Garcia, there is no clear service provider focused on serving the US Latino community at a national level that provides both tax services for individuals and business services like payroll and bookkeeping. “Our goal, as tax and business service leaders, is to serve our community while keeping both culture and language in mind. With over 4.4 million U.S. small business owners who identify as Latino, we see ourselves as their support system in succeeding by providing sound financials and basic advisory services. In order to realize our goal, we will expand aggressively into key markets and reach 400+ locations by the end of 2021.”
Beyond Tax to Add value to small businesses
In the last decade, U.S. Latinos launched 86%[2] of all new businesses in the U.S. ATAX is a leading provider of financial services for both individuals and businesses. Founded by Rafael Alvarez in 1986 his mission was to offer tax preparation services to the Washington Heights, NY community. After starting with $200, 2 computers and a fax machine the company became one of the largest tax preparation providers in New York. In 2007, Mr. Alvarez launched ATAX Franchise Inc., and began expanding along the East Coast of the US. “We see the need in our communities for high-quality services. We do not want to build ‘another tax chain,’ rather we see an opportunity to create a place where our customers can get access to a number of services by trusted advisors and in the language they feel comfortable speaking.”
About Loyalty Brands
Headquartered in Virginia Beach, Virginia, Loyalty Brands is an umbrella franchise company founded in 2018 by serial entrepreneur John Hewitt. The Loyalty Brands consist of business brokerage, small business accounting, tax preparation and added services (focusing on the Hispanic market) and networking and bartering. The company maintains a community first outlook, meaning that involvement in local communities and giving back is a core value. The multi-brand concept involves businesses that are synergistic and compatible, so potential franchisees could possibly own one or more of the brands for additional customer acquisition and co-marketing opportunities. b.stanford.edu/sites/gsb/files/publication-pdf/report-slei-state-latino-entrepreneurship-2018.pdf
[2] https://www.forbes.com/sites/forbesagencycouncil/2018/02/20/u-s-latinos-the-blind-spot-of-america/#5850f8c10961
