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Boasting Consistently High Franchisee Satisfaction, Leading Provider of Payroll Services and Workforce Management Solutions Eyes 100 Units Open by 2024
LITTLETON, COLORADO - Payroll Vault, the premier payroll franchise providing small businesses with comprehensive localized payroll services and workforce management solutions, has partnered with Oakscale, a leading developer helping emerging franchise brands reach their full potential, to oversee franchise development throughout the United States.
Established in 2008 and commencing franchising in 2012, Payroll Vault has a presence in nearly 60 locations across the United States. The company offers an array of services aimed at assisting small business owners in managing various aspects including payroll, human resources, time and attendance tracking, workers' compensation, background checks, compliance with labor laws, and more. Collaborating with Oakscale, Payroll Vault intends to operate around 70 units throughout the U.S. by the close of 2023, with plans to exceed 100 units by the end of 2024.
Payroll Vault serves as an internal payroll department for numerous businesses across the nation, delivering a specialized team of professionals and a comprehensive suite of effective HR outsourcing solutions. The company's unwavering dedication to supporting business success, coupled with its unmatched customer service, empowers operators to customize payroll services for individual clients and enhance workforce management. By outsourcing these responsibilities to Payroll Vault, small business owners can focus on running and servicing their ventures, assured of secure and compliant payroll processing.
The inventive and proven franchising model of Payroll Vault is structured to enable entrepreneurs who share the company's vision to tap into the unmet needs of small businesses nationwide. This opportunity, resistant to economic downturns, offers a consistent customer base, diversified revenue streams, and robust support networks. Extensive training, advanced cloud-based payroll processing technologies, along with a range of marketing resources and strategies, aid operators in connecting with local small businesses, providing essential services, and nurturing enduring partnerships. Franchisees do not require previous accounting experience, and they benefit from expansive territories, operational simplicity, exemption from brick-and-mortar setups, and minimal labor demands. Their operations can be managed from a modest home or remote office space, primarily working off-site, with occasional networking events and in-person meetings to maintain client relations. This concept suits individuals aspiring to enter the multi-billion-dollar payroll industry and liberate themselves from being tied to a desk, all while building their own success. It is also an excellent fit for stay-at-home parents or retirees looking for flexible opportunities.
“My whole life, I’ve helped small business owners be successful in running their businesses,” says Payroll Vault founder and CEO Sean Manning. “With the Payroll Vault franchise program, we’re taking that to the next level, helping people who want to be in the payroll business be successful in it. Payroll services are definitely growing – the need for it, the resources around it, etc., so there are plenty of opportunities for aspiring business owners with us.”
Franchise Business Review recognized Payroll Vault in 2023 as a leading franchise in the low-cost category, a standout franchise within its respective category, and also ranked it among the top 100 most innovative franchises. The company consistently garners favorable evaluations for franchisee contentment. Joshua Kovacs, the Co-Founder and CEO of Oakscale, expressed his enthusiasm for incorporating Payroll Vault into Oakscale's lineup of specialized franchise brands. This decision stemmed from the notable satisfaction of the existing franchisees with the brand and their unwavering dedication to its achievements.
“Because of its low investment and unique territory parameters, digital nomads, corporate veterans and others who want a recurring revenue stream and the flexibility of operating from anywhere love this brand,” Kovacs says. “We are excited to work with Payroll Vault because it has strong financials reported in its Franchise Disclosure Document, a ton of operating history dating back to Sean’s entry into accounting business in 1990, and a fervent devotion to realizing its vision, maintaining a supportive culture and continuously enhancing its business model. These factors combine with the result that Payroll Vault franchisees consistently register some of the highest satisfaction levels reported by Franchise Business Review.”
