Do you want to start a payroll business by buying a franchise? If YES, here are 13 best payroll service franchise opportunities for sale and their cost. Payroll businesses are those that handle employee information which includes wages, deduction, hours worked and any other services that are compensation related and ensure that they are all generated to employee paycheck and reports.
This is usually a service that is done on behalf of the employer. This industry is exclusive of the offices of the Certified Public Accountant (CPAs), who are mandated to provide payroll service in addition to other services that they might be offering.
This payroll service business industry is largely concentrated in the United States of America, as 70 percent of the industry’s revenue is accounted for by the 50 largest companies, with the four largest companies which deal in paycheck generation, tax filing as well as payroll reports for clients accounting for close to 50 percent for the whole industry.
Between 2011 and 2016, the industry has grown strongly, posting an annual growth of 7.8 percent. The revenue in the industry has been largely due to the high rate of employment as well as favorable business conditions for companies.
The industry has also seen positive technological changes such as offering cloud-based services that has not only brought in more income for the industry but also attracted more customers as well. The growth in the industry is expected to continue especially as more businesses are now looking to use payroll services.
The truth remains that payroll will continue to be complex for business owners to navigate. The modern world of regulations puts the business owner at risk of mistakes, incurring fines and penalties that can far exceed the cost to hire a professional payroll company. The time savings alone are worth it for many business owners when they consider compliance tasks including coordinating, reporting, filing, and payment of taxes.
So, if you are interested in providing solutions in this regard and also making money from this thriving industry by starting your own payroll business, you can go through the easy route by buying the franchise of a successful payroll consulting firm and here are some of the best payroll firm franchises in the United States of America that you can buy.
13 Best Payroll Business Franchise Opportunities for Sale and Their Cost
Payroll Vault Franchising LLC
Payroll Vault Franchising LLC is one of the leading payroll service providers in the United States of America. Payroll Vault Franchising LLC was founded in 2007 and they have been franchising since 2012 , about 7 years ago. They have their corporate head office at 5231 S. Quebec St., #260 Greenwood Village, CO 80111 and the current CEO of the company is Mr. Robert Manning.
Becoming a Payroll Vault Franchise allows you to get in on a fast growing and highly lucrative industry. With health care reform regulations, legislation, looming non-compliance issues, fees and fines, today’s business owners are handing over their payroll to trusted payroll providers.
Payroll Vault Franchising LLC is seeking new investors to invest in their franchise units from all across the United States of America.
- Initial Investment – Low – $44,369 and High – $70,569
- Net-worth Requirement – $250,000
- Liquid Cash Requirement – $100,000
- Initial Franchise Fee – $30,000 – $30,000
- Ongoing Royalty Fee – 6%
- Veteran Incentives – 10% off franchise fee
Mr. Payroll Corp.
Mr. Payroll was started in 1988 in Amarillo, Texas, to offer check-cashing services to customers who didn’t have checking accounts. In 1990, Mr. Payroll began offering franchises. In 1994, it became an affiliate of Cash America, and today in addition to check cashing, Mr. Payroll locations also offer bill payments, money orders, money transfers and pre-paid debit cards.
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 Corporation (“Mr. Payroll”) has her corporate head office at 1600 W. 7th St. Fort Worth, TX 76102 and the current CEO of the company is Mr. Dan Feehan.
- Initial Investment – Low – $68,800 High – $328,000
- Net-worth Requirement – $200,000
- Liquid Cash Requirement – $75,000
- Initial Franchise Fee – $10,000 – $10,000
- Ongoing Royalty Fee – 10%
25,000 small businesses rely on Padgett for a wide array of business services including accounting, financial reporting, tax, government compliance, payroll services and general business consulting. As a franchise operation, they have helped hundreds of budding entrepreneurs turn their dreams of running their own business into a reality. There is a world of opportunity ready for your big ideas, your expertise and your advice.
As a Padgett franchise owner, you will build strong relationships with your clients by providing them with expert business consulting services that help them run their businesses more effectively and efficiently.
Additionally, you will be able to keep your clients bookkeeping needs up-to-date, and offer tax preparation services, payroll services and much more. While you’re keeping your clients focused, they will help keep you satisfied with the tools, training and support services you need to successfully branch out and reach your goals.
Financial Requirements and Info
- Cash Investment – $50,000
- Investment Range – $50,000 – $106,000
- Franchise Fees – $56,000
- Financing Available – Yes
- Franchise Units – 420
Apex Payroll’s business model offers a recession resistant model and strong recurring revenue. Apex Payroll is a business based on a proven concept in an industry offering stable potential recurring revenue streams and high growth. Business owners are focusing on numerous tasks and their main focus is usually on what their company does best, which is not processing payroll.
Headquartered in Atlanta, Georgia, Apex Payroll has over 20 years experience in the payroll services and technology business. They have 200 offices throughout the United States processing payroll for thousands of small, medium and enterprise businesses.
Their cloud based technology is among the best in the business and their service and support are unmatched. Owning an Apex office gives you the head start you need to fulfill your dreams. The investment is modest yet the personal and professional rewards are outstanding.
Financial Requirements and Info
- Total Investment – $30,000
- Cash Required – $30,000
- Low initial investment– Initial start-up fee of $30,000 plus minimal computer hardware.
SurePayroll innovative solution is now recognized by industry experts as the top choice for small businesses. In 2011, SurePayroll joined the Paychex, Inc. family as a wholly owned subsidiary, now providing even more resources to customers.
Franchisors with just a few franchises in neighboring towns or hundreds across a number of states can get one easy payroll solution with SurePayroll’s innovative Franchise Management Portal. Whether you are working with a small business payroll or have hundreds of employees at multiple locations, the portal lets you handle payroll in minutes and they will automatically pay and file federal, state and local payroll taxes for you.
SurePayroll’s Franchise Management Portal makes multiple franchise payroll easy. They help small businesses in the United States of America succeed by providing payroll and related services through innovation and world-class support. If you are interested in this franchise, you can contact them via their website.
Payroll Matters® Franchise
The Payroll Matters® concept has been so successful with business owners throughout the United States because it takes the headache and worries out of producing a payroll. Payroll Matters® people are financial experts who provide payroll services nationwide to thousands of businesses. Collectively, they bring more than 200 years of field experience to the table.
That experience and expertise has made the Payroll Matters® name such a strong one in business circles throughout the United States–from Maine to California.
The Payroll Matters® program is a carefully designed, well-orchestrated system that delivers accurate payroll information and related services at affordable prices on time, every time. For nearly thirty years, Payroll Matters® has been a company “on the grow,” and it’s growing faster than ever. If you are interested in this franchise, you can contact them via their website.
Accountables has been fulfilling the financial and accounting needs of both individual and small businesses for over three decades. From tax preparation to payroll services, Accountables staff are well versed in accounting and tax laws. Part of their goal is maximizing client wealth and the other part is guaranteeing client satisfaction with superior service.
As an Accountables franchisee, you will offer accounting and tax services to clients in your local area. You’ll help ensure that your clients are aware of current accounting principles, tax laws, and the importance of applying them to their particular situation. If you are interested in this franchise, you can contact them via their website for more info and to learn more about their franchise opportunities.
SmallBizPros is one of the fast – growing financial services cum payroll services firms in the United States of America. With this small business service franchise, you will be helping companies secure things that they need. This might include worker’s compensation packages, insurance, payroll help, and a host of other services.
Backed by some of the biggest names in the world, you will have a track record going in. If you are interested in this franchise, you can contact them via their website.
Time+Plus Payroll Services
Time+Plus Payroll Services is more than a payroll franchise– it is a top financial franchise that is growing fast. Time+Plus has expanded from a single payroll and timekeeping service center in suburban Atlanta to include more than 200 similar operations in 44 states and Canada.
The Time+Plus entrepreneur base consists of CPAs, bookkeepers, payroll professionals, corporate executives, sales people, and marketing professionals desiring outside success with their own businesses. If you are interested in this franchise, you can contact them via their website.
Your franchisees should be focused on managing and growing a successful business, not worrying about payroll, HR, and compliance. Paychex can help by streamlining these complicated, and time-consuming, tasks. They are a proven, trusted resource that can help your franchise owners manage their employees more efficiently while helping them in their effort to stay compliant with government regulations.
Whether your franchisees have one employee or thousands, Paychex Flex HR solution can help them effectively manage workers — from recruiting to retirement.
Paychex officials are well-trained to offer recruiting and applicant tracking, hiring and onboarding, time and attendance, payroll services, HR services, health insurance management, retirement plans and recordkeeping. If you are interested in this franchise, you can contact them via their website.
Abacus Payroll, Inc.
Abacus Payroll, Inc. is recognized as an expert in payroll for restaurants and franchise businesses throughout the United States of America.
When you partner with Abacus Payroll, Inc., you receive payroll specialists who have many years of experience computing payroll for restaurants, banquet halls, breweries, recreation centers, hair salons, transportation services, and other franchises. If you are interested in this franchise, you can contact them via their website.
SBF Payroll Franchise
SBF is a leader in the payroll industry and has been for over a decade. SBF was founded in Santa Barbara, California in 1998 and currently processes payroll for thousands of companies all over the United States. Their corporate headquarters are still located in downtown Santa Barbara while new franchise locations continue to open every year.
Payroll is their expertise; therefore, they are always abreast of changes in tax laws, filing requirements, reporting, deadlines and all details revolving around the payroll process. If you are interested in this franchise, you can contact them via their website.
Since its inception in 2001, Payworks has been headquartered in Winnipeg with regional presence in ten offices across Canada, including Victoria, Maple Ridge, Kelowna, Calgary, Edmonton, Saskatoon, Regina, Toronto, Montreal, and Dartmouth. With more than 300 employees and growing, they provide workforce management solutions to over 20,000 clients across Canada in all sectors.
Whether you are a franchisee, franchisor, or at the head office, Payworks understands your unique requirements and they have developed tailored solutions to your market. From their automated stat pay calculator to full import capability from various systems, their franchise solutions have what it takes to manage payroll, HR and time requirements.
Best of all, they have an entire department 100 percent dedicated to their valued franchise customers, and you will be assigned one knowledgeable customer service representative who will know you by name. If you are interested in this franchise, you can contact them via their website.