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Below is an in-depth analysis and side-by-side comparison of Mr. Payroll vs ReliaKeep 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 | $36,800 - $44,000 |
Franchise Fee | $10,000 - $30,000 | $30,000 |
Royalty Fee | 10-25% | 8% |
Advertising Fee | - | 2% |
Year Founded | 1989 | - |
Year Franchised | 1992 | - |
Term Of Agreement | 10 years | 5 years |
Term Of Agreement | 10 years | 5 years |
Renewal Fee | - | - |
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 | -/- |
Start-up Costs | No/Yes | -/- |
Equipment | No/Yes | -/- |
Inventory | No/No | -/- |
Receivables | No/No | -/- |
Payroll | No/No | -/- |
Training & Support |
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Training | - | franchisees will receive 5 days of training at corporate headquarters. |
Support | Newsletter, Toll-free phone line, Grand opening, Security/safety procedures, Field operations/evaluations | - |
Marketing | Co-op advertising, Ad slicks | Social Media (Meetup.com, LinkedIn.com, etc.) Business Seminars Direct Mail Telemarketing Company Website Internet pay-per-click Newsletters Brochures Networking Events Professional Printed Materials Media 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 started part-time and home-based. No experience is necessary. |
Expansion Plans |
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US Expansion | Yes | - |
Canada Expansion | No | - |
International Expansion | No | - |
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!
NO LONGER FRANCHISING
Prepared. Sensible. Bookkeeping. Autonomous organization bookkeeping is a multi-billion dollar, withdraw safe industry. Associations are required to keep exact books of record, as required by the IRS and for obligation detailing purposes. Distinctive focal points of bookkeeping are better cash related organization and help in searching for outside financing from banks and diverse examiners. Franchisees will offer negligible exertion bookkeeping organizations to private endeavors, concentrating on and considering autonomous organizations from start-up to $2 million a year in yearly arrangements. This measurement addresses 95% of all associations in America. Franchisees may perform bookkeeping organizations in-house, using QuickBooks programming, or may outsource to a pre-picked key associate. Franchisees will in like manner offer and give QuickBooks setup, planning, and reinforce organizations. Franchisees may in like manner offer appraisal game plan, open bookkeeper, and some different organizations supported by the Franchisor. Industry Focus Retail Automotive Manufacturing and Distribution Construction Healthcare Real Estate Professional Services Non-Profit Insurance Restaurant Music and Entertainment Agriculture Many Other Industries We have scratch collaborations with outsource bookkeeping associations. Franchisees may perform bookkeeping organizations in-house, or may outsource the organizations, whichever it picks. Generously note QuickBooks setup, get ready, and reinforce must be performed in-house by franchisee, or by franchisee's readied staff.