Payroll Vault vs Thriveworks Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of Payroll Vault vs Thriveworks including start-up costs and fees, business experience requirements, training & support and financing options.

Start-Up Costs and Fees
 
Payroll Vault Franchise
Thriveworks Franchise
Investment $49,135 - $65,769$16,700 - $79,282
Franchise Fee $40,000$10,000 - $20,000
Royalty Fee 6%3%
Advertising Fee -1%
Year Founded 20082008
Year Franchised 20122013
Term Of Agreement 5 years-
Term Of Agreement 5 years-
Renewal Fee --


Business Experience Requirements
 
Payroll Vault Franchise
Thriveworks Franchise
Experience

Accounting/Business background is helpful but not necessary.

-

Financing Options
 
Payroll Vault Franchise
Thriveworks Franchise
  In-House/3rd PartyIn-House/3rd Party
Franchise Fees -/--/-
Start-up Costs -/--/-
Equipment -/--/-
Inventory -/--/-
Receivables -/--/-
Payroll -/--/-

Training & Support
 
Payroll Vault Franchise
Thriveworks Franchise
Training

3-4 day Owners training program at our headquarters in Greenwood Village, Colorado. 5-day Sales & Marketing Training program at our headquarters in Greenwood Village, Colorado. Payroll Processing Training program is an ongoing training for 6 months to one year. *You will learn the operational and administrative elements of the business. *The experience takes place in a combination of classroom and field environments. *We also offer a variety of ongoing web training sessions throughout the year.

On-The-Job Training: 1-2 days Classroom Training: 3 days Additional Training: At company-owned center
Support

You're in business for yourself, but not by yourself. We are here for you every step of the way. You will be able to contact our support staff via email and phone to ask questions or to discuss business issues. Building a great business in the payroll industry couldn't be easier.

Purchasing Co-ops Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations
Marketing --
Operations This franchise opportunity is “doors open” M-F type of business. There are 2 primary job functions in this business, they are Business Development and Payroll Processing.-

Expansion Plans
 
Payroll Vault Franchise
Thriveworks Franchise
US Expansion YesYes
Canada Expansion --
International Expansion --

Company Overviews

About Payroll Vault

Payroll Vault provides a successful business model delivering tailored payroll services to the vast number of small and medium sized businesses. Business owners are faced with payroll related regulations, legislation, non-compliance issues, fees and fines. Now more than ever, these business owners need help and are looking for solutions.  

The nation’s fasting growing payroll franchise, Payroll Vault has mastered the art of running a successful payroll business, and is leading the way in a $13 billion market opportunity. With over 35 years of industry experience, our support team will provide the training, and ongoing day-to-day support necessary for success.

We're looking for people ready to capitalize on the opportunity to be a highly successful entrepreneur and the chance to work with other successful business owners in their community, helping them with their payroll needs and keeping them focused on their business. 

If that's you, get in touch with us to help you get started on your Payroll Vault opportunity.

Veteran Incentives  10% off franchise fee
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In Franchise Business Reviews' Top 200.

"Entrepreneur
#449 in Franchise 500 for 2020.




About Thriveworks

A Thriveworks franchise is a unique turn-key counseling business opportunity unlike anything else in the field. Thriveworks is the country’s fastest growing brand of counseling centers and offers well-qualified franchisees a therapy practice with:

A Thriveworks practice could be the right investment for your career and future.  Are you ready?

The Initial Franchise Fee is $10,000 to convert an existing practice into a Thriveworks center (“Conversion Model”) or $20,000 for a new startup center (“Standard Model”) with exclusive rights to operate in a specific area as defined by the franchisor. Additional franchises will be available for a reduced fee of $5,000 per Franchise.
The total investment necessary to begin operation of a Thriveworks Franchise ranges from $16,700 to $31,800 for a Conversion Model and from $36,100 to $79,282 for a Standard Model which will depend on a number of factors that are fully discussed in Item 7. This includes the Initial Franchise Fee of $10,000 for a Conversion Model or $20,000 for a Standard Model (as discussed in Item 5) that must be paid to Thriveworks Franchising LLC or an affiliate.