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Entrepreneur: Start & Grow Your Business

Mr. Payroll Check Cashing

Check cashing & money orders

Background

Founded: 1988 Franchising since: 1990
1600 W. 7th St.
Fort Worth, Texas 76102
Phone:
(800)322-3250


Franchisor is a publicly-held company with 400 employee(s); 10 employee(s) in franchise department.

Franchise Growth
Year U.S. Franchises Canadian Franchises Foreign Franchises Company Owned
2009 124 0 0 5
2008 130 0 0 5
2007 139 0 0 5
2006 136 0 0 6
2005 136 0 0 6

Where Seeking Franchisees
In the U.S. Alabama, Arkansas, Arizona, Colorado, Florida, Georgia, Iowa, Kansas, Louisiana, Missouri, Mississippi, Montana, Nebraska, North carolina, New mexico, Nevada, Ohio, Oklahoma, Pennsylvania, South carolina, Texas, West virginia

Exclusive territories available.
Territory size: 1- or 2-mile radius

Costs and Fees

Total investment: $75.3K-151K
Franchise fee: $10K
Ongoing royalty fee: 10%
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 No
Equipment No No
Inventory No No
Accounts Receivable No No
Payroll No No

Qualifications
Net worth requirement: $250K
Cash liquidity requirement: $75K
Business Experience:
  • General business experience

Operations
  • 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.

Training and Support

Training
  • Available at headquarters: 3 days

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

Rankings

Franchise 500® rank:
#347 (2009); #448 (2006);

Ranked #1 in category in:
2009;