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Mr. Payroll
MR. PAYROLL provides financial services (check cashing, money orders, bill pay, wire transfer, etc.) to the un-banked
Franchisor Background
Year Established: 1990Franchising Since: 1990
Operating Units: Franchised Units: 127 96.2% Company-Owned Units: 5 3.8% ______ _____ Total Operating Units: 132 100% Geographic Distribution: U.S.: 132 100% In 21 States Canada: 0 0% In 0 Canadian Provinces International: 0 0% In 0 Foreign Countries ______ _____ Total: 132 100% North America: States/Provinces with the largest number of operating units: Density Units 1. Georgia 16 2. New Mexico 8 3. Texas 65
Registered in Following Registration States: Financial Requirements
Investment: Minimum Net Worth: $140K Cash Investment: $70-120K Total Investment: $75.3-151K Average Total Investment: $226K Fees: Initial Franchise Fee: $10-30K Average Franchise Fee: $20K On-Going Royalty: 10% Average Royalty: 10% Advertising Fee: 0%
Average Number of Employees: 1 Full-time, 1 Part-timeSpace Needs (in square footage): 48Preferred Sites: Other Sites: Inside Retail StoreEncourage Conversions? NoEarnings Claims Provided? YesListed in the SBA Registry? NoSupport and Training
International Franchise Association: Yes Canadian Franchise Association: No Franchisee Association/Member: No Size of Corporate Staff: 3000 Site Selection Assistance? Yes Lease Negotiation Assistance? Yes Financial Assistance? No Marketing Support: Co-Op Advertising: No National Advertising: No Regional Advertising: No Local Advertising: No Marketing Materials: None Specified Additional Services: None Specified Other Marketing Support: None Specified On-Going Support: Central Data Processing: Included in Fees Central Purchasing: Included in Fees Field Operation Evaluation: Included in Fees Field Training: Included in Fees Initial Store Opening: Included in Fees Inventory Control: Included in Fees Franchisee Newsletter: Included in Fees Regional or National Meetings: At Additional Cost 800 Telephone Hotline: Included in Fees Training: 1. Operations Training Ft. Worth 3 Day 2. Mgr. Orientation Ft. Worth 1 Day 3. Opening 2 Week
Franchisee Qualifications
Ranked from 1 (unimportant) to 5 (important): Financial Net Worth: N/A General Business Experience: N/A Specific Industry Experience: N/A Formal Education: N/A Psychological Profile: N/A Personal Interview(s): N/A
Minority Representation
Units Owned by Minorities: African-American: 2% Asian-American: 2% Hispanic: 4% Native American: 2% Other: 10% Middle East Specific Minority: Although we strongly support the objectives of the NMFI, we do not yet have any specific programs in place at this time.
Terms of Contract
Term of Initial Contract: 10 Year(s) Term of Renewal Period: 10 Year(s) Passive Ownership: Allowed, But Discouraged Area Development Agreements? No Sub-Franchising Contracts? No Franchisees Allowed to Expand Within Territory? Yes
Expansion Plans
Projected New Units Over Next 12 months:
U.S.: Yes, Northwest Southwest, SE Canada: No Overseas: No
