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United Check Cashing Franchise Opportunities
Description of the Industry: United Financial Service centers provide valuable services to people who prefer to manage their money on a simple cash basis. According to the Federal Reserve Board's Survey of Consumer Finances, nearly 13% of families in the U.S. do not have a checking account. This survey also indicated that the majority of these consumers are "un-banked" by choice. There are an estimated 13,000 check-cashing outlets in the United States cashing more than $80 billion worth of checks annually. Consumers cashing these checks are typically blue and white-collar workers that make their living in retail and service industries such as restaurants, hotels, auto repair, landscaping, daycare and line manufacturing.
Description of the Company: United centers serve the needs of consumers seeking an alternative to traditional banking relationships. Their franchisees operate clean, bright, safe retail centers designed to create a community-bank atmosphere and they build strong customer relationships by providing the type of friendly service not usually associated with today's banks. The company meets this demand for convenient cash management by offering better hours and more accessible locations than a typical bank and the company cash their checks, with no holds while it clears the banking system, all for just a couple of pennies on the dollar. United Check Cashing also assist them in paying their bills, wiring money and a host of other personal financial transactions.
The United management team brings more than 100 years of collective industry experience to the franchise. The company has been franchising its concept since 1992 and has a proven track record of successful franchisees with over 150 centers currently operating in 17 states. The company have another 25 franchisees in development and plan to be 200 strong by the end of 2006. United Check Cashing are seeking savvy entrepreneurs who are looking for a profitable business opportunity to join its growing ranks of successful franchisees.
- Number of Franchise Units: 150 in 17 states
- In Business Since: 1977
- Franchising Since: 1992
- Franchise Fee: $27,500 (April 1, the fee will increase to $30,000)
- Total Investment: $200,000 - $300,000 (includes franchise fee)
- Financing Options: Third party sources available