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10 Best Title Loan Franchises [Cost, Fees]

Do you want to start a title loan business by buying a franchise? If YES, here are 10 loan title loan franchise opportunities for sale and their cost. Title loan businesses are attractive startups for entrepreneurs seeking solid returns on their investments.

When people require short term cash, they use the title of their vehicles as collateral for loans. If the loan is repaid according to the terms of the contract, then everyone goes their way. If not, the lender (i.e. you) can take ownership of the vehicle and sell it to cover the principal and interest charges.

Note that since title loan companies charge high interest rates and target individuals who lack access to other forms of credit, the industry has come under government scrutiny for predatory lending practices. That is why new entrants into this business need to be aware of the controversies and be prepared to comply with legal/ethical business practices.

The kind of loans offered by these businesses are meant to be short-term, high-interest forms of financing. The average loan term is only a month, but the annual interest rate can be as much as 20% or more. When compared with a typical startup, this business offers a high ROI, even during the initial stage of the company’s life.

Even though terms and conditions of the loans are restricted by state laws, some title loan businesses readjust the edges of legality by rolling thirty-day loans over and over again, continuing to collect interest on a principal portion that is not repaid during the standard time period.

However, before engaging in any typical lending procedure in the United States, it is very critical that you verify state laws and gauge your motives according to personal and industry standards.

Most states in the United States mandate title loan businesses to be licensed or certified. Nonetheless, regulations regarding title loan companies are constantly changing, so you’ll also need to stay on top of legal developments to maintain compliance and licensing – not to mention the state requirements for titles, transfers and other vehicle – related transactions.

Do not even think that the only way to start this business is by starting from the scratch. Note that you have various options, which include acquiring an existing business. Notably, buying a well – established business is often a better option than starting one of your own.

Have it in mind that when you acquire a company that has already been operating for a while, it makes things a lot easier and the hurdles let stressful. Building your own company, on the other hand, involves a lot more uncertainty. As long as you do careful research when buying an existing company, you may be able to take an established business to new heights within the industry.

You should also consider acquiring a franchise when looking to start a title loan business in the United States. This is because it will make starting and managing your business less stressful. Depending on where you are located and how much money you have to invest, it could be a fast, affordable way to get your new business up and running.

10 Title Loan Franchise Opportunities and How Much They Cost

1. American Title Loans

This company began franchising in 2013 and are known to offer comprehensive support for franchisees. American Title Loans offers territory protection, with an initial training program of 37 hours. This includes 24 hours of classroom training and 13 hours of on – the – job training.

Currently, this franchise is expanding into new markets and might be available near you. The revenue your business will generate will depend on a wide range of factors, as do profit. How much money you can make as an American Title Loan franchisee depends on a number of factors such as franchise location, labour costs, commercial lease rates, etc.

Financial Requirements

  • Initial Franchise Fee: $45,000
  • Total Investment: $253,294 to $434,459
  • Working Capital: $3,000 to $6,000
  • Royalty Fee: 6.0%

2. Quick Cash Franchise

Quick Cash, over the years. has proven to be a key provider of cash advances, check cashing, wire transfers, auto title loans and many other products. Coupled with the lowest initial investment in the industry, Quick Cash provides a tremendous amount of support and guidance throughout your tenure as a Quick Cash franchisee.

Financial Requirements

  • Initial Franchise Fee: $20,000
  • Total Investment: $20,000 –  $30,000
  • Net Worth Required: $200,000
  • Working Capital:$100,000

3. Payroll Corp.

Established in 1988 in Amarillo, Texas, this company provide check – cashing and loan services to customers who didn’t have checking accounts. For over two decades, this company has offered franchises and have grown to become an affiliate of Cash America, and today in addition to check cashing, Mr. Payroll locations also offer bill payments, title loans money orders, money transfers and pre – paid debit cards.

Financial Requirements

  • Initial Franchise Fee: $10,000 – $10,000
  • Initial Investment: $68,800 – $328,000
  • Net – worth Requirement: $200,000
  • Liquid Cash Requirement: $75,000
  • Ongoing Royalty Fee: 10%

4. FastBucks

FastBucks specializes in offering cash advances and small unsecured loans, which allow customers to borrow against future pay checks for emergencies or other short – term cash needs. FastBucks secret to success is simple: they focus on what they do best, and that is helping people with short term financial needs. Their position as one of the industry leaders is reputed to be as a result of their state-of-the-art software and superior customer service.

Financial Requirements

  • Initial Franchise fee: $27,500
  • Liquid capital required: $125,000
  • Total Investment: $125,000 – $150,000

5. Pay2day

PAY2DAY is a different kind of loan lender established on the simple principle of “the customer comes first”. PAY2DAY was founded in 2006 offering small loans through on – line internet lending, providing a fast, friendly convenient way of securing an advance without leaving your home or office.

The need for their services grew and in 2008, they opened their first storefront location to serve their clients in a more personal way. The process of obtaining a payday loan with this company is so quick and easy, that is why they are preferred to others.

Financial Requirements

  • Unavailable

6. Crown & Gleeson Business Finance

Crown and Gleeson Business Finance specialize in short term Finance for Businesses and Investors. The loans are secured, primarily by Real Estate with funds being available to borrowers within two hours of receiving an application. Crown and Gleeson Business Finance have franchises throughout Queensland and are currently expanding into the United States market.

Financial Requirements

  • Initial Franchise fee: $15,000
  • Liquid capital required: $250,000
  • Total Investment: $143,200 – $279,100

7. Rapid Cash Advance

Since being an alternative lender for borrowers with blemished credit, Rapid Cash Advance provides short term solutions that provide very high rates of return on an annualized basis. The allowable rates are determined by each state but in Florida, their typical loan carries a 10% rate every two weeks plus a $5 fee (or an annualized rate of 390% on a $100 loan).

Rapid Cash Advance also offers additional loan products such as personal loans and title loans for customers who have already taken out a payday loan but who need additional finances.

Whether this is the first business you have owned or you are adding this franchise to a portfolio of other businesses, Rapid Cash Advance’s training program will get you up and running and keep you focused on the activities that will make your business successful.

Financial Requirements

  • Initial Franchise fee: $28,500
  • Total investment: $111,950 to $236,617

8. Cash – X

Cash – X is a unique loan service franchise that offers unique systems and technological advantages in the marketplace. Cash – X is the leader in E – lending, utilizing low overhead methods of distribution and robust technology to gain strategic advantages. The company offers financial services that include fast payday loans, cash advances, credit repairing, title loans, and many more.

Financial Requirements

  • Initial Franchise Fee: $25,000 to $50,000
  • Initial Investment: $50,000

9. Family Financial Centres

Family Financial Centres is a company committed to raising the standard for alternative financial service providers both for product offerings and the way they are delivered to the market. Family Financial Centres have the systems, ambience and professionalism of a traditional bank and they are conveniently located very near to their customers.

Family Financial Centres is fully automated with systems that keep the average transaction time down to just a few minutes, thus allowing customers to have all of their financial needs taken care of conveniently and efficiently, in an environment that is upbeat, professional and friendly.

Financial Requirements

  • Initial Franchise Fee: $3,500 – $40,500
  • Initial Investment: $18,500 – $307,010
  • Net – worth Requirement: $500,000 – $1,000,000
  • Liquid Cash Requirement: $60,000 – $1,000,000

10. Cash Plus, Inc.

Cash Plus Inc. is a retail financial service centre that provides check cashing, payday advances, money orders, auto title loans, wire transfers and other convenience products and services. This franchise is simple to operate, quick to start, and very affordable.

Cash Plus franchise owners operate attractive retail facilities in nice neighbourhoods during normal business hours. Many franchisees own a multiple stores. Note that the Cash Plus retail business system is a proven system for getting your Cash Plus business open and operating efficiently. You will receive comprehensive training, manuals, marketing and support by real people.

Financial Requirements

  • Franchise fee: $22,500
  • Liquid capital required: $50,000
  • Net worth required: $200,000
  • Total Investment: $124,000 – $204,000

Indeed your chances of becoming a successful entrepreneur increases if you purchase a franchise instead of doing it all on your own. However, before you consider any of the franchises mentioned above, it is worthwhile to determine whether it suits your goals and can function in your location.