Cash Plus Inc.
Check cashing & related servicesBackground
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.
Franchisor has 13 employee(s); 8 employee(s) in franchise department.
Franchise Growth
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.
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 |
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
Ongoing Support
Marketing Support
Other marketing support
- 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