Established
2011
Franchise Units
65
Minimum Investment
$100,000
Franchise Fee
$68,500
Total Investment Range
$111,885
Home Based
Yes
Description
Payroll Vault is a customer focused, full-service payroll company designed for small business. We help business owners be more successful by supporting them with payroll and workforce management services. All of our services are customized and provided on a local level in your community.
Background
Established: 2008
First Unit Franchised: 2012
Franchised Units: 65
Company Owned Units: 2
States Registered In: 49 states open, pending reg in HI
Canada Franchises: No
International Franchises: No
Support Training
Financial Assistance Provided: Yes
Site Selection Assistance: No
Lease Negotiation Assistance: No
Recruiting Assistance: No
Cooperative Advertising: Yes
Training:
3-day Initial Owner Training at our Corporate Office will cover Ownership, Management, Operations, and Sales & Marketing. Operations and learning the payroll software and payroll processing will be ongoing virtually with our operations training and support team.
Monthly support includes: Owners Call for franchise owners, Sales & Marketing Support Call, and Sales Accountability Support Groups Calls.
Two annual conferences: Owners Exchange Conference for owners only; Annual National Conference for owners, staff, and vendor partners.
Ideal Candidate
IDEAL CANDIDATE
Net worth individual $250k, business/marketing/sales background is a plus, accounting and payroll experience helpful but not required, USA Citizenship, minimum credit score of 685, no bankruptcy under 8 years or legal issues prohibiting operation of a financial services business, understanding of franchising model and willingness to follow a systemized process. Someone who likes operations and/or business development that has attention to detail, and has a passion for their local business community and wants to support small businesses, which 90% of all businesses are small businesses.
Owner/operator is ideal to start and can grow to semi-absentee or absentee, or a business owner that wants to add another business to their portfolio and has a team to help support them.
Financial Detail
Cash Investment: $100,000
Total Investment: $77,375-$111,885
Minimum Net Worth: $250,000
Franchise Fee: $68,500
Royalty: Greater of $400/mo. or 6%
Ad: 300/mo
Item 19: Yes-very detailed
Average Number of Employees:1-3
Visa Candidates: No
Passive Ownership: No
Semi-Passive Ownership: Yes, full time GM required, however, owner-operator preferred
Home-Based: Yes
B2B: Yes
Master Franchise Opportunities: Would be considered, US only
Veteran Discount: Yes- 10% off IFF