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Home > Franchises > United Financial Services Group
United Financial Services Group
A franchise agreement takes place when the concerned parties involved are bound together through certain contractual provisions. This is an arrangement whereby someone with an idea for a business, the franchisor, sells to another person the franchisee the rights to use the business's name, sell a product, or provide a service to someone else. A franchise agreement will usually specify the given territory the franchisee retains exclusive control over the area protection, as well as the extent to which the franchisee will be supported by the franchisor.
United Financial Services Group was founded in 1977 and began franchising in 1991. It has more than 80 locations throughout the United States and is based in Philadelphia. United Financial Services centers provide a broad range of fundamental services to consumers seeking an alternative to traditional banking relationships. Their franchisees operate clean, bright, safe retail centers designed to make a community-bank atmosphere and they construct strong customer relationships by providing the type of friendly service not usually associated with today’s banks.
United franchisees come from all types of careers and professions ranging from executives to entrepreneurs, technology professionals to retail backgrounds, financial specialists to skilled trades. United recognized the value of offering a franchising opportunity in this industry. After fifteen years of effectively operating multiple check cashing centers in the Philadelphia area, its principals decided to document their best practices and began to expand their profitable business model through a formal franchise system. Since then, the company has shown over 100 entrepreneurs how to establish and operate their own business by serving this lucrative market segment.
The costs and fees include total investment of $203500 to $269500, franchise fee is $30000, ongoing royalty fee is 0.2 percent and Term of agreement 15 years, renewable and renewal fee is 25 percent of the current fee. The company’s ranking in Franchise 500 is 228 in 2006, 155 in 2005, 130 in 2004, 205 in 2003 and 187 in 2002. They will provide a private intranet available only to franchisees to facilitate their access to a variety of training, operations, marketing and communication tools and resources. Their commitment is to always strive to provide professional financial services to the very best of ability.
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