Franchise Opportunity Rating
Review completed: September 2020
0-49
Below Average
50-69
Average
70-100
Best
$31,500 - $41,500
$250,000
$38,875 - $64,269
2012
65
5231 South Quebec St.
Suite 260
Greenwood Village, CO 80111
Marilyn Manning
303-763-1865
[email protected]
www.payrollvaultfranchise.com
Payroll Vault is a boutique-style local payroll service provider that designs payroll for small businesses. Payroll Vault conducted their franchise review with US franchisees in August 2020, and collected feedback from 85% of the active franchisees (39).
Highlights include:
The Payroll Vault franchisees are satisfied in all aspects of the culture, and the business support they receive from corporate. Core Values and Franchisee Community scores are at the top of their list.
Franchise Business Review has worked with over 1,100 franchise systems. We independently contact all open and active franchisees and invite them to participate in our satisfaction survey. Only the brands that exceed our satisfaction benchmark are displayed on our website. Not all brands share their results publicly, but Payroll Vault shares their satisfaction scores to show their commitment to franchise relationships, their culture, and transparency.
Actual owner reviews from our third party, independent surveys.
"The Franchisor is a blessing and genuinely cares about us Franchisees. I see it every day."
Sean, Single Unit Owner, Large Market (250,000 - 499,999 population), Overall Brand Rating: 97 FSI
"Growing any business is an investment of both time and money, this one provides value in return for that investment."
Debra, Two Units, Large Market (250,000 - 499,999 population), Overall Brand Rating: 89.4 FSI
"I am very happy with my Payroll Vault Franchise, and the forward growth opportunity for my business. I think the ancillary vendor offerings and a robust and easy to use client-facing payroll software is critical for our success."
Karen, Single Unit Owner, Large Market (250,000 - 499,999 population), Overall Brand Rating: 90.2 FSI
Comprehensive sales and marketing training will help you to actively engage with your local business community by networking to create relationships, become the local go-to expert for payroll services, and grow your business. Marketing materials, strategic campaigns, and social media are part of our program.
Initial Franchise Fee = $40,000
Royalty $400/month minimum or 6%
Monthly fees support payroll software, your website, monthly email newsletter for drip marketing, CRM software, SEO/Digital fee for internet optimization, and national marketing.
Payroll Vault is listed on the SBA Registry. We do not offer financing.
90 days to operational after training. No brick & mortar; office space is preferred.
No certification is needed. It's a great fit for people with operations, management and sales skills, but all skills needed are teachable. You must have United States Citizenship and are filing taxes in the US. Payroll Vault only operates in the US.
Yes - 25% discount on the initial franchise fee for Military Veterans and First Responders.
Franchisees operate as a full-service payroll company. In addition to payroll, we offer workforce management services: time & attendance, pay-as-you-go workers comp, human resources, pay cards, drug screening, background checks, labor posters, etc. We don’t have call or processing centers like many other companies – everything remains local for the client to work directly with their Payroll Vault office. Sales, marketing, and networking are extremely important to grow your client base and being active in your business community is fun and purposeful to grow the brand and make you the go-to local expert for payroll services. Operationally, you’ll be onboarding new clients, setting up their payroll in the software, running payroll for clients, and checking reports and updates to ensure the client will be paying their employees. Our clients have employer and employee portals to communicate with the software. Your fees are collected via ACH when you run the client’s payroll, so there are no accounts receivable and no credit cards.
This is a scalable business with recurring revenue streams. Our 97% client retention rate far exceeds our competitors. With the client service technique we teach our franchisees, you will have clients with you year after year making the annuitized value of a client extremely appealing. There is no limit for the number of clients you can service, and year over year growth compounds making this a very desirable legacy business.
HIGH FRANCHISEE SATISFACTION
We remain a top low-cost franchise with high ratings for franchisee satisfaction, and innovation within all critical areas of franchise systems including training & support, operations, franchisor/franchisee relations, and financial opportunity.
GROWING INDUSTRY
With 30M businesses and climbing in the US, small business development drives a rich and in-demand marketplace. We have quickly emerged as the leading full-service payroll franchise opportunity for entrepreneurs.
You begin with a 3-day initial comprehensive onboarding training at our Headquarters that will empower you to fulfill your entrepreneurial dreams. Our ongoing support and training model extends to support calls with our corporate office Team of experts, two annual conferences, a variety of continuing education programs in every division, and direct access to your peers.
Owner/operator or semi-absentee to start the business. Low overhead with minimal staffing. No brick and mortar build-out; office space preferred. The territory is 10,000 businesses in a contiguous geographic area that is zip code-driven and protected. You do not need to reside in your territory, but your business address must be in your territory. You can provide payroll services across the USA from your location as this is a relationship-type style of business and extremely scalable.
