On this inspiring episode of the Ed Parcaut podcast, we are joined by John Hewitt, a titan in the tax preparation industry. Hewitt, the founder of both Jackson Hewitt and Liberty Tax Service, shares his riveting entrepreneurial journey, filled with valuable lessons, ambitious goals, and unexpected challenges.

The conversation kicks off with a reflective John discussing his storied career, beginning from his early days at H&R Block to venturing out on his own and becoming the only person alongside Henry Block to build national tax companies in both the U.S. and Canada. He takes us through his experiences, from founding Jackson Hewitt and selling it for $483 million, to leveraging a non-compete clause to start Liberty Tax in Canada and eventually bring it storming back into the U.S. market.

John candidly opens up about the highs and lows of his career, including the times his companies almost went bankrupt due to both internal errors and external pressures such as IRS interventions and hostile attempts by venture capitalists to purchase his company at undervalued prices. He also shares insights on how he navigated through critical adversities, emphasizing the importance of perseverance, dealing with debt, and the significance of each tax season as a “harvest” for survival and repayment.

The conversation also delves into why franchising from day one is crucial, as Hewitt regrets not adopting this strategy sooner. With his experience, he provides invaluable advice to young entrepreneurs on the commitment required to build a successful business.

Finally, John introduces us to his current venture, Loyalty Brands, which consists of various franchise companies he’s either started or gotten involved with, demonstrating a relentless pursuit of entrepreneurial success.

You will be intrigued by Hewitt’s exceptional story of resilience, strategic savvy, and his unabated love for Mondays.