One of the best known payday loan franchise opportunity providers in the United States is Cash Plus, which has been featured in Entrepreneur and Success magazines.
Cash Plus, which is a franchise offering a business in payday loans,
check cashing, and related services, has been around since 1985, but
only began franchising since 1995.
The company, which is Tustin, California-based, owns two of their own payday lending locations, with 57 additional Cash Plus locations being owned by the franchisees.
According to data on the franchise opportunity from Entrepreneur magazine, 18% of all franchisees own more than one unit.
Cash Plus is a very basic check cashing & payday loan franchise, with the minimum number of employees needed to run a single franchised unit being 3.
In terms of support to its franchisees, the company has made training available at the headquarters as well as at the franchisees location, with additional ongoing training to support the business.
The support for the business going forward includes, in addition to training, also a newsletter, meetings, a toll-free support phone line, and security/safety procedures.
To make the franchise a success, a typical franchisee will also need marketing support, which is available as co-op advertising, ad slicks, and through national media, as well as via national sweepstakes.
Many have found the Cash Plus franchise profile through the company
being featured in the Entrepreneur Magazine Franchise 500 frequently
Other high profile features that the franchise has been part of range from making the Success Magazine's Franchise Gold 200, the POV Magazine Franchise Great Eight, and the Hot 100 Franchises list.
Also, according to the company's marketing material, one indication of their concept's success has been being in top five percent of franchise companies in Success Magazine's Franchise Satisfaction list.
Their 59 stores are located in the following states: California, Florida, Indiana, Maryland, Michigan, Nevada, Ohio, and Texas, with around 18% of the franchisees owning more than one unit.
To get information on these other franchisees and to get further information on the franchise opportunity in cash advance industry, you can contact their Franchise Development Department.
Cash advances should be used for short-term financial needs only, not as a long-term financial solution.
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