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 | Mr. Payroll |
Overview
When examining any franchise investment, it is important to gather the facts,
analyze the risks and make an informed decision. The following facts will provide basic
information on the growing demand for non-bank check cashing, the Mr. Payroll system
and our strategy for serving this market.
There is much more to consider before either Mr. Payroll or you will be prepared to make a decision. You must be fully informed about all aspects of the franchise investment. We must know more about your capabilities and needs. The franchise discovery process we follow allows both parties to gather facts in an orderly manner.
By combining the information you will receive with your personal judgment and experience, you will be able to create a business plan, forecast and operating budget. Whether you are a C-store operator or you are interested in becoming an independent check casher in a host C-store, the Mr. Payroll program has the tools you need to be successful.
There is much more to consider before either Mr. Payroll or you will be prepared to make a decision. You must be fully informed about all aspects of the franchise investment. We must know more about your capabilities and needs. The franchise discovery process we follow allows both parties to gather facts in an orderly manner.
By combining the information you will receive with your personal judgment and experience, you will be able to create a business plan, forecast and operating budget. Whether you are a C-store operator or you are interested in becoming an independent check casher in a host C-store, the Mr. Payroll program has the tools you need to be successful.
Products & Services
One of the most pressing needs of the "self-banked" is converting their hard
earned paychecks into cash on payday. A recent Federal Reserve Bulletin
estimated that 28% of all working-class households have the need for paycheck cashing services. Mr.
Payroll is a multi-state network of check cashing kiosks located in convenience stores.
These compact financial service centers provide fast and convenient check cashing,
money orders, bill paying, money transfers and other necessary services at one location
for a low cost.
The combination of company-owned sites and independently owned franchised locations has spread this needed service to convenience stores in twenty states. Mr. Payroll sites occupy major oil company stores like TEXACO, CONOCO, BP and TOTAL to name a few. Additionally, Mr. Payroll kiosks are hosted by regional operators such as Toot 'n' Totum, Allsups, Cracker Barrel, EZ Mart and Jet 24. Franchised locations are owned by individuals as well as convenience store operators. The Mr. Payroll kiosk is a boon to the convenience store because it adds customers inside the store with cash in hand.
In these compact and secure units, a friendly cashier services the financial needs of the neighborhood with the use of a proprietary computer system that performs each transaction quickly and accurately. Repeat customers can cash their paycheck in less than a minute. Additional financial services are being added to the Mr. Payroll system. Almost 150 locations currently display the red, white and blue of Mr. Payroll's brightly colored sign.
The combination of company-owned sites and independently owned franchised locations has spread this needed service to convenience stores in twenty states. Mr. Payroll sites occupy major oil company stores like TEXACO, CONOCO, BP and TOTAL to name a few. Additionally, Mr. Payroll kiosks are hosted by regional operators such as Toot 'n' Totum, Allsups, Cracker Barrel, EZ Mart and Jet 24. Franchised locations are owned by individuals as well as convenience store operators. The Mr. Payroll kiosk is a boon to the convenience store because it adds customers inside the store with cash in hand.
In these compact and secure units, a friendly cashier services the financial needs of the neighborhood with the use of a proprietary computer system that performs each transaction quickly and accurately. Repeat customers can cash their paycheck in less than a minute. Additional financial services are being added to the Mr. Payroll system. Almost 150 locations currently display the red, white and blue of Mr. Payroll's brightly colored sign.
Training & Support
In addition to our free (no tuition) monthly Cashier Training Academy,
Mr. Payroll maintains a toll free 800 line to assist franchisees and
cashiers with business assistance and advice. Our proprietary software
system includes ongoing upgrades and our Help Desk Tech Support Center
is available for operational and technical assistance. Each month Mr.
Payroll franchisees receive a current operations report and a
historical trend report covering up to three years business progress.Are You a Good Fit for Mr. Payroll?
Each franchise requires an initial franchise fee ranging from $10,000
to $30,000 depending upon type of franchise. The estimated initial
investment for franchisees that own the retail business at which the
check cashing facility will be located ranges from $60,500 to $151,500.
The estimated initial investment for franchisees that locate their
facility within space leased from an owner of the retail location or
other site ranges from $61,650 to $142,000. The initial franchise fee
and the estimated initial investment will vary depending on the type of
franchise you buy. We will assist you in detailing the exact cost of
these items for you in your franchise development plan.
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