- Franchise 500 Rank
-
N/R Not ranked last year
- Initial investment
-
$154K - $309K
- Units as of 2023
-
53 8.2% over 3 years
Family Financial Centers was founded in 2004 as a network of community-based financial hubs to serve small businesses, middle-income workers, and unbanked customers. Far too many citizens live from paycheck to paycheck in the U.S., meaning they need their checks cashed quickly. As a franchise that serves the underbanked, Family Financial Centers could provide a much-needed alternative to traditional banking on the community level.
There are more than 45 Family Financial Centers franchises located in the United States. Those franchises are expected to achieve customer satisfaction by offering quick and efficient service. Like banks, Family Financial Centers provide reliable financial solutions to customers while maintaining respect and dignity.
The ideal candidate for a Family Financial Centers franchisee is a qualified or experienced individual passionate about brand growth and community outreach.
Why You May Want to Start a Family Financial Centers Franchise
There may be a considerable demand for community-based financial services accessible to customers' homes and workplaces. As a high-tech financial services provider, Family Financial Centers strives to meet overlooked customers' needs by delivering solutions and upholding excellent service. The primary services offered at each Family Financial Centers location include check cashing, bill payments, money transfers, and prepaid debit cards. Customers appreciate the convenience of the readily available branches and expert help that reduces the strain caused by recurring financial commitments.
With the mission to become the best community-based financial service provider in the business, Family Financial Centers promises to meet and surpass customer expectations. They work to fulfill this promise by using the latest transactional software and computer systems that may guarantee quick and efficient services.
What Might Make a Family Financial Centers Franchise a Good Choice?
Running a Family Financial Centers franchise can give you excellent access to support and empower small businesses and individuals that banks ignore in your community. Presently, Family Financial Centers offers multiple financial services franchise models that include teller-less check-cashing machines, store in store, single or numerous full-service stores, and converting an existing store to a Family Financial Centers location.
To be part of the Family Financial Centers team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for the existence of ongoing fees that will include royalty fees and potential renewal fees. A typical franchise agreement runs for 15 years and is renewable if you and the franchisor agree to continue your working relationship. Additionally, Family Financial Centers has relationships with third-party sources that can be accessible to qualified franchisees.
How To Open a Family Financial Centers Franchise
As you decide if opening a Family Financial Centers franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a Family Financial Centers franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
The entire franchise awarding process is tailored to help Family Financial Centers learn more about the potential franchisee and assist the franchisee in understanding the opportunity and its prospects.
Since only one employee is required to run a franchise, Family Financial Centers offers an extensive amount of both on-the-job and classroom training, as well as additional field training. Other perks include ongoing and marketing support.
Company Overview
About Family Financial Centers
Industry | Financial Services |
---|---|
Related Categories | Miscellaneous Financial Services |
Founded | 2004 |
Parent Company | Family Financial Centers LLC |
Leadership | Paul Eckert, Founder & CEO |
Corporate Address |
99 Lantern Dr., #101 Doylestown, PA 18901 |
Social | Facebook, Twitter, LinkedIn, YouTube |
Business Overview
Franchising Since | 2004 (20 years) |
---|---|
# of employees at HQ | 7 |
Where seeking |
This company is offering new franchises in the following US states: Alabama, Connecticut, Florida, Georgia, Indiana, Louisiana, Massachusetts, New Jersey, New York, Pennsylvania, South Carolina, Texas |
# of Units | 53 (as of 2023) |
|
Information for Franchisees
Here's what you need to know if you're interested in opening a Family Financial Centers franchise.
Financial Requirements & Ongoing Fees
Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
Initial Franchise Fee
|
$40,500 |
---|---|
Initial Investment
|
$153,710 - $308,810 |
Net Worth Requirement
|
$150,000 - $1,000,000 |
Cash Requirement
|
$150,000 - $1,000,000 |
Veteran Incentives
|
10% off franchise fee |
Royalty Fee
|
Varies |
Term of Agreement
|
15 years |
Is franchise term renewable? | Yes |
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
In-House Financing | Family Financial Centers offers in-house financing to cover the following: franchise fee, startup costs, equipment |
---|---|
Third Party Financing | Family Financial Centers has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory |
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
On-The-Job Training | 38 hours |
---|---|
Classroom Training | 39 hours |
Ongoing Support |
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
|
Marketing Support |
Ad Templates
Social Media
SEO
Website Development
Email Marketing
|
Operations
Additional details about running this franchise.
Is absentee ownership allowed? | No |
---|---|
Can this franchise be run from home/mobile unit?
|
No |
Can this franchise be run part time?
|
No |
# of employees required to run | 1-2 |
Are exclusive territories available?
|
Yes |
Sign Up for Our Franchise Newsletter
Stay up to date on the latest news and trends affecting the franchise industry.
Related Franchises
Are you eager to see what else is out there? Browse franchises that are similar to Family Financial Centers.
Intelligent Office
- description
- Physical and virtual office space for mobile executives and small businesses
Related Franchise Content
Catch up on the latest franchise news, trends, and more.
'Not What Anybody Signed Up For': A Legal Expert Weighs In on the Labor Rule That Could Destroy Franchising
'Entrepreneur' spoke to labor attorney Jim Paretti to unravel the status of each of the legal challenges to the expanded Joint Employer Rule — and find out what comes next.
Drive for Success With the Top 15 Automotive Franchises in 2024
If you dream of running your own auto repair shop, car wash or specialty vehicle service center, buckle up and get ready to explore the top 15 automotive franchises, according to the 2024 Franchise 500 Ranking.
Which Franchise Model Is Right for You? Here's How to Choose
There are thousands of brands and concepts, but franchises generally fall under two business models: "brick-and-mortar" and "service-based." Which is the best choice for you?
The Anatomy Of A Franchise Disclosure Document
Here's a break down your most tedious -- and valuable -- franchise research tool so you understand the ins and outs before signing.
Is Franchising Right For You? Ask Yourself These 9 Questions to Find Out.
Before taking the leap into business ownership, consider these nine crucial factors.
Want to Become a Franchisee? Run Through This Checklist First.
From financing to legal review, we'll cover all the basics before you officially become a franchisee.