Business View Magazine | March 2021

106 BUSINESS VIEW MAGAZINE MARCH 2021 YOUR BRAND. ON DEMAND. Xpressdocs is THE destination for: Branded Materials Local Marketing Support Marketing Automation Start empowering your franchise network today sales@xpressdocs.com | 866.384.8816 own multiple businesses and they are looking for a payroll solution that is better, so rather than outsource, they just become their own payroll company and then they can service their other businesses.” Payroll Vault franchises aren’t just a good choice for businesses that already exist, they are also a great way to start a new business. “We are attractive to current business owners, but we’re also attractive to new entrepreneurs that might be out of work now and are looking for a business opportunity that is a low-cost, remote, scalable business model where they can start from home and leverage their current contacts and grow their business,” Manning adds. All things considered, Payroll Vault is a low-cost franchise and is worth the investment to grow a scalable business with recurring revenue in an industry that transcends all businesses that have employees, it is recession resilient, an essential service, and has fully remote operating systems. Also, with a franchise you have monthly royalties and fees for resources like payroll and CRM software, website, and marketing. Prospective franchisees go through a franchise development process to determine if Payroll Vault will be a good fit for them and vice versa. Once approved, franchisees can have their business off the ground within 90 days. Manning shares, “Some ideal characteristics that define a Payroll Vault franchisee are someone that understands operations and technologies, is comfortable being active in their business community doing business development, networking, and marketing and has good attention to detail. You can start the business as an owner/operator, or semi-absentee, and then as the business grows you can hire employees.” Franchisees are trained remotely by Payroll Vault and given access to the American Payroll Association’s basic training. A franchise can run with minimal staff due to efficiencies with the payroll software. “It’s typically owner-operated until they get 40 to 50 clients,” says Manning.