Frequently Asked Questions

Franchisee Frequently Asked Questions

Expand all Collapse all

• What can you tell me about Mr. Payroll Corporation?

  Mr. Payroll Corporation is an affiliate of Cash America International, Inc., a NYSE company (stock symbol: CSH), the world’s largest operator of pawnshop and specialty financial service centers. Founded in 1988, Mr. Payroll Corporation is an industry leader in franchised check cashing and other financial services. Most of our franchises are located inside convenience stores under both independent and well-known major national brands.

• What are my costs and what is included?

  A detailed description of the costs will be outlined in the Mr. Payroll Franchise Guide and 2009 Franchise Disclosure Document that you will receive following your request for more information. Costs include, but are not limited to, the franchise fee, equipment, computer hardware and software, fixtures, furniture, initial supplies, site evaluation, demographic survey, permanent signage, access to Cashier Training Academy, grand opening promotion and assistance, and on site business consulting. We will assist you in detailing the exact cost of these items for your site in your development plan once a location has been finalized.

• What services do I receive after the Grand Opening?

  In addition to our free monthly Cashier Training Academy, Mr. Payroll maintains a toll-free 800 line to assist and advise franchisees and cashiers with business issues, and a Technical Support Center to provide operational and technical assistance. Our field managers are always available to offer assistance and make routine field visits. And, as a Mr. Payroll franchisee, you’ll have online access to current operations reports and three-year historical trend reports.

• Must I own a convenience store to purchase a franchise?

  You do not need to own a convenience store to take advantage of the Mr. Payroll franchise opportunity. Many of our franchises are located within convenience stores that a franchisee does not own.

• How are sites selected?

  Mr. Payroll uses a site selection model that provides the franchisee with accurate and timely demographic information for each site under consideration.

• Will I have an assigned territory?

  Each franchised facility has an assigned territory inside which Mr. Payroll will not locate another Mr. Payroll check cashing facility. The exact dimensions of the territory are detailed in the franchise agreement and agreed upon between Mr. Payroll and each franchisee.

• How will Mr. Payroll train franchisees and cashiers?

  Each month, Mr. Payroll conducts a three-day Cashier Training Academy in Fort Worth, Texas for cashiers and owners/ managers. The academy teaches its attendees how to operate and manage a Mr. Payroll check cashing service center. Our support staff also assists with your grand opening and on-site training to launch the business.

• What is the term of my franchise agreement?

  The term of the franchise agreement is 10 years with an option to renew the agreement for an additional 10 year period.

• Does Mr. Payroll operate company owned check cashing outlets?

  Mr. Payroll owns and operates five company owned locations in Fort Worth, Texas.

• How do I know the checks I cash are good?

  Mr. Payroll has developed a system to control losses from bad checks. There is always some risk involved, but, when used properly, the system we employ will usually minimize losses from bad checks to less than 1 out of 1,000.

• How do I proceed from here?

  Contact Jim Bennett, Director of Franchise Operations, at 1-800-322-3250 to answer any questions you may have.