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Entrepreneur: Start & Grow Your Business

Cash Plus Inc.

Check cashing & related services

Background

Founded: 1985 Franchising since: 1988
Founded in 1985, Tustin, California-based Cash Plus was acquired by Craig and Julie Wells in 1996. The company offers check cashing, payday advances, international wire transfers and money orders at its locations across the United States.
3002 Dow Ave., #120
Tustin, California 92780
Phone:
(888)707-2274/ (714)731-2274


Franchisor has 13 employee(s); 8 employee(s) in franchise department.

Franchise Growth
Year U.S. Franchises Canadian Franchises Foreign Franchises Company Owned
2008 90 1 0 0
2007 85 1 0 2
2006 80 1 0 2
2005 67 1 0 2

Where Seeking Franchisees

Exclusive territories available.
Territory size: Varies

Special Programs
Cash Plus created the Bravo Kids program, which works with Save the Children in local communities to support underprivileged around the world.

Costs and Fees

Total investment: $190.2K-269.7K
Franchise fee: $35K
Ongoing royalty fee: 5-6%
Term of agreement: 10 years, renewable
Express/kiosk option available

Type of Financing Available
In-House Third Party
Franchise Fee No No
Startup Costs No Yes
Equipment No Yes
Inventory No Yes
Accounts Receivable No Yes
Payroll No No

Third-party financing source(s): GE Capital, DEL Financial, the SBA, Merchants Bank of California

Qualifications
Net worth requirement: $400K
Cash liquidity requirement: $100K
Business Experience:
  • General business experience
  • People skills

Operations
  • 18% of all franchisees own more than one unit
  • Number of employees needed to run franchised unit: 3
  • Absentee ownership of franchise is allowed. (92% of current franchisees are owner/operators)

Training and Support

Training
  • Available at headquarters: 1 week
  • At franchisee's location: 1 week
  • Additional ongoing training : 90 days

Ongoing Support
  • Newsletter
  • Meetings
  • Toll-free phone line
  • Grand opening
  • Internet
  • Security/safety procedures
  • Field operations/evaluations
  • Purchasing cooperatives

Marketing Support
  • Co-op advertising
  • Ad slicks
  • National media

Other marketing support
  • National sweepstakes

Rankings

Franchise 500® rank:
#408 (2009); #278 (2008); #325 (2007); #461 (2005);