HR Block To Franchise 500 Company-Owned Offices

After issuing a $136 million first-quarter loss on September 4, H&R Block on September 8 announced plans to sell 500 of its company-owned offices, converting them to franchises throughout the fall and winter.

“H&R Block believes that success will be driven through a hands-on operator involved with the business,” said Ken Treat, senior vice president of franchise development, in a media release. “As such, these locations will be sold to entrepreneurs who will dedicate their time and enthusiasm to the business.”

The fourth quarter is typically H&R Blocks best season and its first quarter the worst.