Mr. Payroll Corporation (“Mr. Payroll”) consists of a nationwide network of company-owned and franchised check-cashing facilities located inside convenience stores, neighborhood service centers, or in stand-alone facilities. In as little as 48 square feet of operating space, a Mr. Payroll check-cashing franchise provides fast check cashing, money orders, bill paying, money transfers and other financial services in one convenient location-and at a minimal cost.
Mr. Payroll Services:
- Check Cashing
- Money Orders
- Wire Transfers
- Bill Pay
- Tax Filing
- Prepaid Phone Service
- Prepaid Debit Cards
History/Locations
Mr. Payroll is a leader in the check cashing industry with more than 20 years experience. Our business strategy is to competitively offer uniquely-suited, financial services to working class customers. Founded in 1988 and offering franchises since 1990, Mr. Payroll is an industry leader in franchised check cashing services. It is also a subsidiary of Cash America International, Inc. (listed on NYSE under the symbol “CSH”), the world’s largest operator of pawnshops and specialty financial services. As of December 31, 2010, we have 116 franchised and company-owned facilities in 16 states.
Market
Mr. Payroll provides valuable non-bank, financial services to hard-working individuals every day. A study conducted in 2008 by the Center for Financial Services Innovation reported that 40 million households (106 million individuals) in the U.S. were under banked. One of the most pressing needs of the “underbanked” is converting their hard earned paychecks into cash. A recent Federal Reserve Bulletin estimated that 28% of all working-class households have the need for check cashing services.
Franchisee Package
Our franchisees are provided with all the necessary tools and continued support to help them get their financial services business started and running successfully.
- Site Analysis & Demographics
- Cashier Training Academy
- New Store Opening Support
- Soft & Grand Opening Week
- Market Your New Location
- On-site Training
- Check Cashing Software
- Turnkey Installation
Leave a Comment