Family Financial Centers

Family Financial Centers

Financial services
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2022 Franchise 500 Rank
N/R Not ranked last year
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Initial investment
$19K - $309K
Units as of 2021
50 6.4% over 3 years

Here’s what you need to know if you’re interested in opening a Family Financial Centers franchise.

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.

Find Your Perfect Franchise

Company Overview

About Family Financial Centers

Founded
2004
Leadership
Paul Eckert, Founder & CEO

Franchising Overview

Franchising Since
2004 (18 years)
# of employees at HQ
6
Where seeking

This company is seeking new franchisees throughout the US.

# of Units
50 (as of 2021)

Franchisor Information

Corporate Address
99 Lantern Dr., #101
Doylestown, PA 18901

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
$3,500 - $40,500
Initial Investment
$18,500 - $308,810
Net Worth Requirement
$100,000 - $1,000,000
Cash Requirement
$50,000 - $1,000,000
Veteran Incentives
10% off franchise fee
Royalty Fee
Varies
Term of Agreement
15 years
Is franchise term renewable?
Yes
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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
Additional Training
Field training
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
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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise by Entrepreneur Media. Our franchise listings and rankings are solely research tools you can use to compare franchise operations. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise. That should include reviewing the franchisor's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees.
Updated: February 8th, 2021