Financial Services for the Real World
Cash Plus has been in business for more than 25 years and operates nearly 60 franchise centers across North America. We’re proud of the fact that we’ve consistently won recognition in a number of polls as one of America’s top 500 franchises. This is no small accomplishment considering that we’re competing with some of the biggest brands in the marketplace.
CASH PLUS EARNS #59 RANKING IN THE 2010 FRANCHISE HOT 100
There are more than 3,000 different franchise offerings currently available — and that they represent over 100 different industries — being named one of the hottest 100 is quite an honor.
Why Choose Cash Plus?
With the large number of bank mergers and branch closures over the past decade or so, customers are finding it more difficult to deal with banks. Longer holds on checks, shorter, less convenient hours and higher NSF and overdraft charges are driving customers into our stores in droves. In fact, many banks actually refer their customers to Cash Plus on a regular basis.
Current Number of Franchise Units: 57
Cash Plus Advantage
As an example, a typical check cashing customer may have only $75 in their checking account. When depositing their $500 paycheck, the bank typically places a one-week or 10-day hold on their check. This inconvenience drives customers to Cash Plus. Customers need cash now for groceries or rent and we cash their check with no holds or hassles.
Also, with the rising costs of bounced check fees, over-limit charges or late fees, our payday advance loans offer an inexpensive and convenient alternative source of instant credit. And, customers usually get the money they need in 10 minutes or less.
Cash Plus Products and Services
Our core business consists of providing a mix of convenient financial services such as:
- Check cashing, payday advance loans, wire transfers, money orders, bank debit cards, bill payments, credit counseling and a variety of other services;
- Moderate Investment – higher operating margins – rapid return on investment;
Reach breakeven faster (often 6 months to one year);- Inventory is CASH – it never spoils or goes out of style;
- Store hours are closer to Bankers’ Hours – no late nights;
- It’s a simple-to-operate business with great upside potential for growth;
- Two to three employees per location – that don’t require specialized skills or education;
- Franchisees become respected leaders in their communities – like bankers.
Training and Support
Support starts with our thorough site analysis and selection process. Our scientific strategies are designed to help franchisees locate the best site possible. Plus, we are there throughout the entire lease negotiation and construction process.
Protected territories are standard with our full-store locations.
Training consists of a six-day concentrated course at our corporate office and stores plus another four days at the franchisee’s site upon opening. Our ongoing support is stellar - by toll-free phone, e-mail, monthly newsletter and regular store visits. In addition, we host conventions or regional franchisee gatherings to keep owners informed about our industry and business standards. Relationships are huge with us and we work hard at making it fun to be a Cash Plus franchisee!
In addition to our annual $25,000 Cashaway Sweepstakes program, the Cash Plus Advertising Fund (minimum $300, maximum $500 per month) provides dozens of tried and tested initiatives and tools to our franchisees. These include TV commercials, coupons, flyers, display ads and lobby posters. Seasonal advertising programs (such as during income tax season), are also a big reason behind our franchisees’ success.
Cash Plus Marketing
Our franchisee training and support is world class and our marketing and operation strategies are truly revolutionary. As a matter of fact, we innovated many of the standards that are today’s industry norms. Our brand-centric retail marketing strategy is unmatched and a first in the industry. All this adds up to faster start-up times and happier franchisees.
Franchise Requirements
Cash Plus franchisees come from all walks of life to make their dreams come true. We have former security officers, armed forces retirees, nurses, accountants, lawyers, business owners, high-powered retiring corporate executives and even bankers, to name a few. And, many of our owners are current or former franchisees in other franchise systems. They repeatedly tell us our operations, marketing and ongoing support is second to none.
Role of the Franchisee
Our successful franchisees spend little or no time working the front customer counter. The owner’s role is driving marketing efforts, building a strong and growing customer base and managing their employees. Being driven to grow the business and having a commitment to outstanding customer service are the keys to success in our business! A banking or finance background is not necessary for this business – complete training and ongoing support covers all aspects of the business.
Financial Requirements
Franchise fee: $35,000
Investment Range: $245,000 - $295,000
Royalty Fee: 6% of fee income
Required net worth: $400,000 minimum
Required liquid capital: $100,000 min.
Ad Fund: 3% of fee income - $500 cap
SBA Registry: NO
VetFran: YES
Top 35 Target Market Areas
California:
San Diego
Orange County
Inland Empire
Los Angeles:
FresnoModestoStocktonSan Jose
Nevada:
Las Vegas
Reno |
Louisiana:
Baton Rouge
New Orleans
Texas:
Amarillo
Austin
Dallas
Fort Worth
Houston
San Antonio
|
Florida:
TallahasseeOrlandoMiamiJacksonvilleFt. LauderdaleBroward County
Michigan:
Detroit
Saginaw
Lansing
Grand Rapids
|