Business Description

Owning a United Check Cashing business is the closest thing you can do in franchising to owning a bank. United Check Cashing centers provide a wide assortment of vital services, in addition to just check cashing, to the "underbanked" segment of consumers seeking an alternative to traditional banking relationships and the growing fees associated with banks. Our franchisees operate clean, bright, safe retail centers located in urban and suburban markets, and they pride themselves on building strong consumer relationships through friendly, courteous, and prompt service not usually associated with today's banks.

Franchisor Background

Year Established:  1977

Franchising Since:  1992

Operating Units:
Franchised Units:	143	100%
Company-Owned Units:	0	0%
Total Operating Units:	143	100.0%
Geographic Distribution: U.S.: 143 100% In 16 States Canada: 0 0% In 0 Canadian Provinces International: 0 0% In 0 Foreign Countries   Total: 143 100.0%

North America:
States/Provinces with the largest number of operating units:

Density	Units
1. New Jersey	50
2. Pennsylvania	48
3. Florida	9

Registered in Following Registration States: California, Florida, Indiana, Maryland, Michigan, New York, Rhode Island, Virginia, Washington, District Of Columbia

Financial Requirements

Investment:
Minimum Net Worth:	$350K
Cash Investment:	$70-100K
Total Investment:	$175-250K
Average Total Investment:	$212K
Fees:
Initial Franchise Fee:	$27.5K
Average Franchise Fee:	$28K
On-Going Royalty:	0.002% of Volume
Average Royalty:	0%
Advertising Fee:	3% Income

Average Number of Employees: 1 Full-time, 2 Part-time

Space Needs (in square footage): 1,000

Preferred Sites: Free-standing Building, Storefront, Strip Center, Regional Mall

Other Sites:

Encourage Conversions? Yes

Earnings Claims Provided?: Yes

Franchisee Qualifications
Ranked from 1 (unimportant) to 5 (important):
Financial Net Worth:	5
General Business Experience:	5
Specific Industry Experience:	2
Formal Education:	2
Psychological Profile:	4
Personal Interview(s):	5
Terms of Contract
Term of Initial Contract:	15 Year(s)
Term of Renewal Period:	15 Year(s)
Passive Ownership:	Allowed
Area Development Agreements?	Yes, for 1 Year(s)
Sub-Franchising Contracts?	No
Franchisees Allowed to Expand Within Territory?	Yes
Support and Training
International Franchise Association:	Yes
Canadian Franchise Association:	No
Franchisee Association/Member:	Yes, Member
Size of Corporate Staff:	16
Site Selection Assistance?	Yes
Lease Negotiation Assistance?	Yes
Financial Assistance?	Yes, Direct
Marketing Support:
Co-Op Advertising:	No
National Advertising:	No
Regional Advertising:	No
Local Advertising:	No
Marketing Materials:	None Specified
Additional Services:	None Specified
Other Marketing Support:	None Specified
On-Going Support:
Central Data Processing:	Not Applicable
Central Purchasing:	Not Applicable
Field Operation Evaluation:	Included in Fees
Field Training:	Included in Fees
Initial Store Opening:	Included in Fees
Inventory Control:	Included in Fees
Franchisee Newsletter:	Included in Fees
Regional or National Meetings:	Included in Fees
800 Telephone Hotline:	Included in Fees
Training:
1. Corporate Headquarters Philadelphia, PA	2 Weeks
Expansion Plans
Projected New Units Over Next 12 months: 20 U.S.: Yes, CA, CT, GA, KY, FL, MD, MI, OH, WA, TX Canada: No Overseas: No	Request Franchisor Info   Submit an online form to receive information from United Check Cashing.