Mr. Payroll Corp.

At a Glance

Products & Services: Check cashing, money orders, wire transfers, bill pay, ATM

Number of Locations: 91

Total Investment: $68.8K - $328K

Founded: 1988

Began Franchising: 1990

About Mr. Payroll Corp.

Mr. Payroll was started in 1988 in Amarillo, Texas, to offer check-cashing services to customers who didn't have checking accounts. In 1990, Mr. Payroll began offering franchises. In 1994, it became an affiliate of Cash America, and today in addition to check cashing, Mr. Payroll locations also offer bill payments, money orders, money transfers and pre-paid debit cards.

Franchise Units

Year U.S. Canadian International Company Owned
2014 91 0 0 0
2013 90 0 0 0
2011 113 0 0 6
Where Seeking Franchisees: Franchisor is seeking new franchise units in the following states:
Alabama, Arkansas, Arizona, Colorado, Florida, Georgia, Iowa, Kansas, Louisiana, Missouri, Mississippi, Montana, Midwest, Nebraska, North Carolina, Northeast, New Mexico, Nevada, Ohio, Oklahoma, Pennsylvania, South, South Carolina, Southeast, Southwest, Texas, West, West Virginia.

Startup Costs, Ongoing Fees and Financing

Total Investment: $68,800 - $328,000
Franchise Fee: $10,000
Ongoing Royalty Fee: 10%
Term of Franchise Agreement: 10 years, renewable
Financial Requirements
Net Worth: $200,000
Liquid Cash Available: $75,000
38% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 1 - 2. Absentee ownership of franchise is allowed..

How This Franchise Supports Franchisees

Training: Available at headquarters: 3 days.
Ongoing Support: Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Lease Negotiation

Franchise Ranking History

Franchise 500®: #414 (2012), #381 (2011),

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