What Business Options are Available?

For a check cashing franchise, there are four primary options available.

1) Conversion Franchise - A conversion franchise takes an existing check cashing franchise and brings it under the umbrella of an existing franchise for enhanced image and credibility. The fees associated with this type of franchise can be substantially less because of the existing infrastructure that is the foundation of the business.

Estimated total investment: $80,000 - $150,000

2) Kiosk Franchise - A kiosk is a stand-alone storefront that can be established within a larger shopping establishment and can offer services like check-cashing, money orders, wire transfers and other services. Kiosks are typically 100 to 250 square feet.

Estimated total investment: $110,000 - $149,000.

3) Small-Market Franchise - A small market store is located in a town with a population of 15,000 or less, and not adjacent to or near a larger metropolitan area - $15,000 initial franchise fee and an initial total investment of . Royalty is 6% of adjusted gross monthly receipts or a minimum of $850. Small market centers can be opened as full-service or kiosk stores.

Estimated total investment: $109,000 to $184,000

4) Full-Service Store Franchise - A traditional store capable of offering the complete variety of financial services - $30,000 initial franchise fee and a initial total investment of $156,700 to $229,100. Royalty is 6% of adjusted gross monthly receipts or a minimum of $1,000. Full service centers are typically 1,000 to 1,500 square feet.

The initial total investment is an estimate of expenses that will be incurred in opening a new franchise store. This amount includes, but is not limited to the following: Leasehold improvements, equipment, furniture, fixtures and signs, Point-Of-Sale system including computer hardware and software, insurance, initial advertising and promotional expenses.

Note: Some check cashing franchises offer prospective franchisees the right to acquire an exclusive option to open more than one franchise location in certain select markets.