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Updated RecentlyCFO Today vs AmCheck Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of CFO Today vs AmCheck including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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| Investment | $24,400 - $40,000 | $68,700 - $174,100 |
| Franchise Fee | $24,000 | $50,000 |
| Royalty Fee | Varies | 8.5% |
| Advertising Fee | - | 2.5% |
| Year Founded | 1989 | 1996 |
| Year Franchised | 1990 | 2006 |
| Term Of Agreement | 10 years | - |
| Term Of Agreement | 10 years | - |
| Renewal Fee | $4.8K | - |
Business Experience Requirements |
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| Experience | - | Experience Is Necessary We require that all of our franchise owners or owner groups have experience in the payroll industry. Our experience has shown that if you have the a solid understanding of the sales and/or operations side of a payroll service bureau, your chance for success is greatly enhanced. Our comprehensive training and support program will provide you with the tools that will enable you to get up to speed quickly. Along with experience, you need to bring a strong desire to be your own boss, to help others, a willingness to learn our system and excellent communication skills. We will take care of the rest, as we teach you the most effective process to attain your goals. The support doesn't end once your office is up and running: We will provide you with continuous support as you run your payroll service bureau. |
Financing Options |
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| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | No/No | Yes/- |
| Start-up Costs | No/No | -/- |
| Equipment | No/No | -/- |
| Inventory | No/No | -/- |
| Receivables | No/No | -/- |
| Payroll | No/No | -/- |
Training & Support |
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| Training | - | - |
| Support | Newsletter, Meetings, Toll-free phone line, Internet, Field operations/evaluations, Purchasing cooperatives | - |
| Marketing | Co-op advertising, Ad slicks, National media, Regional advertising | - |
| Operations |
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 | - | - |
| Canada Expansion | No | - |
| International Expansion | Yes | - |
Company Overviews
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.
About AmCheck
A Rewarding and Lucrative Business When you become a franchise owner, you can enjoy the personal satisfaction and financial rewards that come from helping employers achieve their goals. By utilizing the knowledge, systems and relationships that we've been developing since 1996, you can get started in as little as 90 days. You will gain access to a system and support staff that would take a newcomer years to develop. And, the AmCheck brand is ready to go. The initial investment is far less than that required to start your own business and your office will be virtually turnkey. If you are accepted as an AmCheck Franchise Owner, we will train, certify and support you for the life of your business. By working with us, your entrepreneurial dreams can become reality. A Huge and Growing Demand for Our Service According to the U.S. Census Bureau Report "Statistics About Business," in 2004 there were over 5.8 million businesses with employees in the United States. All of these businesses are potential candidates for outsourcing payroll, human resources and benefits. Also according to the U.S. Census Bureau, the Payroll Service Industry has grown an amazing 150% from 1997 to 2002. For employers, when the IRS makes over an average of 420 tax law changes per year, it makes it virtually impossible for small businesses to cost-effectively manage their own payroll and administrative services. Currently, over nine million businesses fall into this category. With 98% of U.S. companies employing fewer than 100 employees, the market for outsourcing is booming, and while the Payroll and HR outsourcing industry continues to experience explosive growth, there's no better way to stay on top than with AmCheck. Succeed With Professional Support Once you establish an office facility, we will deliver complete start-up package, and then our team of experts will work on-site to install and set up everything. The franchise package includes specially designed workstations, a fully configured and networked server, specialty printers, web-based software applications, pc-based software applications, marketing materials, operation manuals, office signage and artwork. The franchisee will also be provided with sales leads, a marketing database of businesses in their territory and a complete Web-based sales management system. We will get you trained and launched, and then it's up to you to carry out the sales and operations strategies. After our experts leave your office, with desktop online support and ongoing training, we'll be with you every step of the way. Tremendous Income Potential and Flexibility Owning an AmCheck franchise means that you have tremendous income potential in your hands. Unlike many other businesses, there's no limit on your income. Also, with recurring revenue from customers, you can enjoy income for a very long time from a single sale.