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Updated RecentlyMr. Payroll vs CFO Today Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Mr. Payroll vs CFO Today including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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| Investment | $60,500 - $151,500 | $24,400 - $40,000 |
| Franchise Fee | $10,000 - $30,000 | $24,000 |
| Royalty Fee | 10-25% | Varies |
| Advertising Fee | - | - |
| Year Founded | 1989 | 1989 |
| Year Franchised | 1992 | 1990 |
| Term Of Agreement | 10 years | 10 years |
| Term Of Agreement | 10 years | 10 years |
| Renewal Fee | - | $4.8K |
Business Experience Requirements |
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| Experience | - | |
Financing Options |
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| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | No/Yes | No/No |
| Start-up Costs | No/Yes | No/No |
| Equipment | No/Yes | No/No |
| Inventory | No/No | No/No |
| Receivables | No/No | No/No |
| Payroll | No/No | No/No |
Training & Support |
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| Training | - | - |
| Support | Newsletter, Toll-free phone line, Grand opening, Security/safety procedures, Field operations/evaluations | Newsletter, Meetings, Toll-free phone line, Internet, Field operations/evaluations, Purchasing cooperatives |
| Marketing | Co-op advertising, Ad slicks | Co-op advertising, Ad slicks, National media, Regional advertising |
| Operations |
39% of all franchisees own more than one unit Number of employees needed to run franchised unit: 2 Absentee ownership of franchise is allowed. (100% of current franchisees are owner/operators) |
Franchise can be run from home. 20% of all franchisees own more than one unit Number of employees needed to run franchised unit: 1 Absentee ownership of franchise is allowed. (90% of current franchisees are owner/operators) |
Expansion Plans |
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| US Expansion | Yes | - |
| Canada Expansion | No | No |
| International Expansion | No | Yes |
Company Overviews
About Mr. Payroll
If you have a strong understanding of the financial and operational requirements of running a business and are interested in opening a franchise with a recognized brand name, you've come to the right place! Cash America offers franchising opportunities through its brand, Mr. Payroll. Why choose a Mr. Payroll franchise? With Mr. Payroll, you'll get: *Instant recognition *As part of the Cash America International, Inc. family of companies, Mr. Payroll is one of the most recognized names in the check-cashing industry. *An established, outstanding reputation*Mr. Payroll is well-known for its professional and courteous customer service. *An abundance of knowledge at your fingertips *Mr. Payroll knows how to create attractive and well-organized units. In addition, Mr. Payroll's Licensed System keeps you at the leading edge of technology and provides you with the information you need to get started. *Franchised site within an assigned territory *Proven business practices *Strategic management consultation from industry experts *License to utilize Mr. Payroll's trademarks, store decor, signs and images *Assistance with advertising/marketing campaigns and materials, as requested *Store design, construction services and fixture supply In addition, a Mr. Payroll check-cashing franchise may: *Increase the profile of your business *Free up your sales counter for more efficient operations. Get Started on your journey of discovery!
About CFO Today
John Harrison felt that many small businesses were failing because they couldn't afford accountants, so he began providing 'professional services at bookkeeper's rates.' In 1989, Harrison established Accountant's Choice, which has since changed its name to CFO Today.
Franchising started in 1990, and there are now locations across the United States offering accounting services to local small businesses.