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Mr. Payroll Check Cashing

A franchisee is a powerful and effective process that includes the marketing, sale and distribution of products as well as services. Experience of the franchisor and the goodwill of the brand are the vital attributes of a successful franchisee. The franchisor licenses the trademarks and techniques of doing business and performs the distribution of products or services through his associated dealers.

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.

Mr. Payroll Check Cashing started their franchising in 1990. Franchisor is a publicly-held company with 300 employees and 14 employees in franchise department. 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 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.

The total investment for this franchise varies from 60,500 to 151,500 dollars, with franchise fees of 10,000 to 30,000 dollars. The ongoing loyalty fee is 10 to 25 percent. The term of agreement is of 10 years and is renewable. According to entrepreneur magazine 2002-2006 the company was ranked 448 in 2006 by franchise 500 ranks.

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.

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