The initial investment required to start a check cashing franchise can range depending on the franchise you select and the type of options you choose.
The criteria that determine your initial investment will depend largely on:
* the type of facility you select (full-service storefront or kiosk, etc.)
* are you building a new operation or converting an existing check facility
* which territory you select
* the franchise operation you select
The costs for a franchise include:
* initial franchise fee
* lease hold improvements
* equipment
* furniture
* fixtures
* signage
* point of sale systems (computers and software)
* training
* insurance
* initial advertising and promotional expenses
* royalties
** Please note the figures below are only estimates and can range from franchise to franchise.
Research by Check Cashing Franchise .com show that initial franchise fees can range from $15,000 – $35,000. The royalties paid can also range. For example, come check cashing franchises charge a royalty equal to 6% of adjusted gross monthly receipts or a minimum of $850. Total investment ranges from $78,000 – $184,000.
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