More facts here…

Launching a new business is exciting and we want to make sure we answer as many of your questions as possible. The FAQs below are sorted into five sections to help simplify your research.

How do I get started?

Our Franchise Development process helps you to learn about Payroll Vault at each step: Introductory Call, Application, Franchise Disclosure Document (FDD), CEO Call, Franchisee Validations, Pro Forma Review, Discovery Day, Franchise Awarded. We want to make sure this business is a good fit for you personally and professionally and that you are a good fit for the Payroll Vault Family. We have the foundation of a successful business model, systems and strategies in place, and comprehensive training to support you in your success.

How does the business work?

Each one of our franchise offices operates as a full-service payroll company.

  1. Marketing, sales, branding, and payroll processing are managed by each franchisee in their office. This keeps everything local for your clients and makes you the go-to expert in your local business community for payroll services. We DON’T have overseas call or processing centers, and Payroll Vault clients love that all their information stays local.
  2. Along with payroll processing, Payroll Vault has a suite of Workforce Management Services to support our clients: Human Resources, Labor Poster Program, Pay-As-You-Go Worker’s Compensation, Pay Card, Time & Attendance, Scheduling, and many more. These services also become additional revenue for the franchisee.
  3. Payroll Vault clients love that they work directly with their dedicated payroll specialist keeping everything customized and personalized for them.

What are the Franchise Fee, Royalty, and Operation Expenses?

  • Initial Franchise Fee $40,000
  • Royalty Fee $400 min per month or 6%
  • Operational monthly fees support payroll software, CRM & marketing software, and a webpage. Fees will begin in the fourth month of operation after completion of the 90-day launch of your new franchise office and training.

Our Industry Expertise

Our Executive Team has a combined 50 years of experience in payroll, accounting, human resources, and business services. Payroll Vault is a member of the International Franchise Association and the Executive Team participates in multiple national and local Boards of Directors. Sean Manning, CPA/CEO/Founder, is also a Certified Franchise Executive (CFE), and corporate trainers are Certified Payroll Professionals (CPP). 

How is revenue generated?

Building a client base with this professional financial services business provides recurring, annuitized revenue in a scalable business model that compounds growth year over year. There are no accounts receivable, credit cards, or checks - you are paid when payrolls are processed.

Three streams of revenue:

  1. Monthly – payroll and workforce management services
  2. Quarterly – filing of quarterly payroll client taxes
  3. Annually – W-2 and 1099 forms

How do I know what to charge for payroll services?

Payroll Vault provides a pricing structure with the flexibility to modify based on the location of your territory. We focus on the value of the services we provide for our clients.

Do I need employees?

You can launch the business as owner/operator or as an absentee owner with a processor and sales person. One experienced full-time payroll specialist can manage an average of 150 clients, and an experienced full-time sales person can sell an average of 75 clients per year. This is in alignment with industry standards.

What type of businesses make ideal clients?

Our marketing focuses on small business, generally companies that have 100 or less employees, and our niche is companies with 1 – 25 employees. Small businesses represent over ninety percent of all business. The software can manage companies with several hundred employees, but our marketing strategies are geared toward small business.

Are there certifications required?

There are no required certifications. We teach you everything you need to know to successfully operate your franchise. Once you become a franchise owner, we also provide complimentary access to the American Payroll Association basic training. The training will provide knowledge and terminology about the payroll industry.

What marketing support do you offer?

All marketing materials are provided: Business cards, email campaigns, social media (setup and posting information), blogs, videos, techniques for special promotions, banners, booth materials, swag, apparel, and many other tools to implement a successful marketing program in your local area.

What is a Territory?

A Payroll Vault territory is a contiguous geographic area that contains approximately 10,000 businesses. We use a mapping software program that contains information from the US Census and is zip code based.

Can I open multiple locations?

Yes, and you have the flexibility to scale from a single location as you can provide payroll services to any business across the United States.

Do I need a retail build-out?

  • No brick-and-mortar build-out is required.
  • Launch your Payroll Vault business from your home. It is required to have a professional address in your territory.
  • A professional office space is preferred.

Who is the ideal Payroll Vault franchisee?

The Payroll Vault franchise opportunity fits well with a variety of skill sets and is centered around activities that include operations, sales, and management. All necessary skills are taught during our training and support process. 

  • Do you need payroll or accounting experience? No
  • Do you need sales experience? No
  • Can Payroll Vault be Owner Operated, Semi-absentee, or Absentee Operated? Yes
  • Do you provide industry training? Yes. American Payroll Association basic training is also provided.

What are the requirements to get started?

  • Net worth of approximately $250,000
  • United States Citizenship and filing taxes in the US
  • No Bankruptcy under eight years
  • No Legal Issues that would prohibit you from owning this type of financial services business.
  • Once approved for a franchise, a background and credit check will be performed, and you will also be fingerprinted by the Internal Revenue Service.

What training and support do you offer?

3-day Initial Owner Training at our Corporate Office will cover Ownership, Management, Operations, and Sales & Marketing. Operations and learning the payroll software and payroll processing will be ongoing virtually with our operations training and support team.

Monthly support includes: Owners Call for franchise owners, Sales & Marketing Support Call, and Sales Accountability Support Groups Calls.

Two annual conferences: Owners Exchange Conference for owners only; Annual National Conference for owners, staff, and vendor partners.

Do you provide financing through Payroll Vault?

Payroll Vault is listed on the SBA Registry. We do not offer financing, but can provide referral sources. 

What incentives or discounts do you offer?

  • 25% off the Initial Franchise Fee for Veterans, Military, and First Responders
  • Royalty Rebate & Royalty Reduction Program Incentives

What are the Franchise Fee, Royalty, and Operation Costs?

  • Initial Franchise Fee $40,000
  • Royalty Fee $400 min per month or 6%
  • Operational monthly fees support payroll software, CRM & marketing software, and a webpage. Fees will begin in the fourth month of operation after completion of the 90-day launch of your new franchise office and training.