Franchimp Summary Rating
Lower than 29% of peers
Franchise Summary
Description
Payroll Vault offers franchisees the opportunity to operate a business that delivers accurate and reliable software-based payroll services including payroll check writing, payroll tax payment and reporting, and independent contractor check writing and reporting, for small, medium and large businesses (Payroll Services). The total investment necessary to begin operation of a franchise is from $49, 135 to $74, 254. This includes $42, 985 that must be paid to our affiliates or us.
Company Background
Payroll Vault is the only franchise opportunity that provides a software-based payroll service to small, medium and large businesses. The company offers franchises the opportunity to operate a business that delivers accurate and reliable payroll services. This includes payroll check writing, payroll tax payment and reporting, and independent contractor check writing and reporting.
Franchise Opportunity
Businesses of all sizes need accurate and reliable payroll services, but often don't have the time or resources to manage this on their own. Operating a payroll service can be complicated and time consuming. There are many regulations to abide by and mistakes can be costly. Payroll Vault is the perfect solution for businesses who want the peace of mind that comes with knowing their payroll is in good hands. We offer software-based payroll services that are accurate and reliable, plus check writing and tax payment services. Our franchisees enjoy a low total investment, making it easy to get started.
Corporate Structure
Payroll Vault Franchising, LLC is a Colorado limited liability company that was formed on June 22, 2012 and does business under the name “Payroll Vault Franchising, LLC” and “Payroll Vault”. They maintain a principal office address at 5231 S. Quebec Street, Suite 260, Greenwood Village, Colorado 80111. They started franchising in July of 2012.
Royalties and Marketing Fees
Royalties : For the first 12 months of business, you will pay a Royalty that is the greatest of 6% of your ?Gross Revenue? (Percentage Royalty) or $400 (Minimum Royalty). You may be awarded the right to Additional Territories, in which case your Royalty may increase, and if you reach certain levels of sales, your Royalty may be reduced.
Royalties : If collected, it will be 1% of Gross Revenue.
Royalties : You will spend a minimum of 1% of Gross Revenue
Franchise Types Available
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Employee Contact Database
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Distribution of Payroll Vault Franchisees
Payroll Vault Franchise System Development in 2022
FAQ
How much investment do I need to start my own Payroll Vault business?
Franchisees typically require at least $65 to $99 investment to get their Payroll Vault business started
What are the initial franchise fees for Payroll Vault?
Franchisees typically need to pay at least $58 in fees directly to Payroll Vault in order to earn the right to launch their business
How much money can I make with a Payroll Vault franchise? What are
the average revenues for a typical Payroll Vault business?
We haven’t done the math on how much revenue a typical
Payroll Vault brings in each year. We estimate that other
franchisees in the Professional Services industry generate
$952,375 revenue, so we would expect
Payroll Vault to generate a similar amount
How long do I need to commit to running a Payroll Vault unit? What
is my contractual commitment?
Payroll Vault franchisees are typically required to sign up to a
5 year contract initially. The renewal length
is 5 years. You can of course exit early but
don’t expect to get any refund!
Accessibility
The Franchisor's investment costs ranges from
$65,460 to $99,970
which is
Much Lower
than the $0 to $0 average in the Accounting & Bookkeeping Services industry
What determines the investment cost?
Item 7 of the Franchise Disclosure Document lays out the full list of initial investment costs, including the fee payable to the franchisor, security deposits, equipment, professional fees etc
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