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LAST UPDATED: October 2023FRANCHISE WEBSITE:&nbsp;<a href="https://www.payrollvault.com/franchise/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=franchise-deep-dive-payroll-vaults-franchise-costs-fees-profit-and-data-2723979" target="_blank" rel="nofollow">https://www.payrollvault.com/franchise/</a>&nbsp;NUMBER OF LOCATIONS:&nbsp;65+REPORTED COST TO GET IN:&nbsp;$56,000—$76,000REPORTED ROI (Item 19):&nbsp;N/A<a href="https://www.payrollvault.com/franchise/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=franchise-deep-dive-payroll-vaults-franchise-costs-fees-profit-and-data-2723979" target="_blank" rel="nofollow">Payroll Vault</a> is a franchise that provides entrepreneurs with the opportunity to start their own full-service, local payroll business with the support of a team of experts and a nationally recognized brand.<h3>How Many Payroll Vault Locations Are There?</h3>Payroll Vault was founded by Sean Manning, who is also the owner of Manning &amp; Company, P.C., a mid-sized accounting, tax and advisory firm located in Littleton, Colorado. Manning began his accounting career with his father’s firm Robert C. Manning, P.C. in 1990. In 1998, he purchased the firm from his father and rebranded it as Manning &amp; Company, P.C.Manning launched Payroll Vault in 2008 when he saw how the payroll service industry was under-serving business owners. He developed Payroll Vault to serve the specific payroll service needs of business owners and their employees. And as demand grew, the firm began to focus on web-based technology to serve employers and their employees efficiently.&nbsp;In 2012, Payroll Vault Franchising, LLC was created to offer franchise opportunities to entrepreneurs who shared their vision. Through strong national and local business connections, the company grew to become a national leader within the independent payroll service providers industry. Today, there are over 65 Payroll Vault locations across all 50 states.&nbsp;<h3>What Is the Payroll Vault Business Model?</h3>At Payroll Vault, each franchise office operates as a full-service, boutique-style payroll services company. Marketing, sales, branding and payroll processing are managed by each franchisee in their local office. This is designed to keep everything in the community for clients and makes franchise owners the go-to expert in their local area for payroll services. Payroll Vault clients will work directly with their dedicated payroll specialist to keep everything customized, localized and personalized for them.Along with payroll processing, Payroll Vault has a suite of Workforce Management Services that&nbsp; become additional revenue for the franchisee, including:&nbsp;<ul><li>Human Resources</li><li>Labor Poster Program</li><li>Pay-As-You-Go Workers Compensation</li><li>Pay Card</li><li>Time and Attendance</li><li>Scheduling&nbsp;</li></ul>Payroll Vault provides a pricing structure with the flexibility to modify based on the location of each territory.&nbsp;&nbsp;Franchisees can launch the business as an owner/operator or as an absentee owner with a processor and sales person. One experienced full-time payroll specialist can manage an average of 150 clients, while an experienced full-time salesperson can sell an average of 75 clients per year.&nbsp;Typically, marketing focuses on small businesses, or companies that have 100 or less employees. Payroll Vault’s niche is companies with one to 25 employees. However, the software can manage companies with several hundred employees.&nbsp;Notably, there are no required certifications to be a Payroll Vault franchisee. Once someone becomes a franchise owner, the franchise provides complimentary access to the American Payroll Association basic training. The training will provide additional and valuable knowledge and terminology about the payroll industry.<h3>How Much Can Payroll Vault Franchise Owners Make?</h3>Earnings for Payroll Vault owners are not publicly available. However, franchisees benefit from recurring, annuitized revenue in a scalable business model that compounds growth year over year. Franchisees are paid when payrolls are processed.Three streams of revenue include:<ul><li>Monthly — payroll and workforce management services</li><li>Quarterly — filing of quarterly payroll client taxes</li><li>Annually — W-2 and 1099 forms</li></ul><h3>How Much Does It Cost To Open a Payroll Vault?</h3>Financial information for Payroll Vault includes:&nbsp;<ul><li>Initial Franchise Fee $56,000</li><li>Royalty Fee $400 min per month or 6%</li></ul>If franchisees choose to purchase a larger territory at the outset, there are two options: &nbsp;<ul><li>For a territory with a total of 7,500 businesses, you will pay an additional $10K, or a total franchise fee of $66K.</li><li>For a territory with a total of 10,000 businesses, you will pay an additional $20K, or a total franchise fee of $76K.&nbsp;</li></ul>Operational and marketing fees will start the third full month after your opening date.&nbsp;<h3>What Is the Franchise Fee for Payroll Vault?</h3>The franchise fee ranges from $56,000 to $76,000.&nbsp;<h3>Who Is the Leadership of Payroll Vault?</h3><ul><li><a href="https://www.linkedin.com/in/rseanmanning/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=franchise-deep-dive-payroll-vaults-franchise-costs-fees-profit-and-data-2723979" target="_blank" rel="nofollow">Sean Manning</a> — Founder, CEO</li><li><a href="https://www.linkedin.com/in/marilynmanning/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=franchise-deep-dive-payroll-vaults-franchise-costs-fees-profit-and-data-2723979" target="_blank" rel="nofollow">Marilyn Manning</a> — Director of Franchise Development&nbsp;</li><li><a href="https://www.linkedin.com/in/douglas-holsted-42a97617/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=franchise-deep-dive-payroll-vaults-franchise-costs-fees-profit-and-data-2723979" target="_blank" rel="nofollow">Douglas Holsted</a> — Vice President</li><li><a href="https://www.linkedin.com/in/jessicaburksmartin/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=franchise-deep-dive-payroll-vaults-franchise-costs-fees-profit-and-data-2723979" target="_blank" rel="nofollow">Jessica B. Martin, CFE</a> — Chief Marketing Officer&nbsp;</li><li><a href="https://www.linkedin.com/in/callie-christiansen/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=franchise-deep-dive-payroll-vaults-franchise-costs-fees-profit-and-data-2723979" target="_blank" rel="nofollow">Callie Christiansen</a> — Marketing Coordinator</li><li><a href="https://www.linkedin.com/in/alissa-perdue-3917b8247/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=franchise-deep-dive-payroll-vaults-franchise-costs-fees-profit-and-data-2723979" target="_blank" rel="nofollow">Alissa Perdue</a> — Operations and Training Support</li></ul><h3>What Helpful Articles Can I Read to Learn More About Payroll Vault?</h3><ul><li><a href="https://www.payrollvault.com/franchise/payroll-franchise-news-updates/payroll-vault-recognized-as-a-top-100-most-innovative-franchise-by-franchise-business-review-1696867852689.html?utm_source=1851franchise.com&utm_medium=article&utm_campaign=franchise-deep-dive-payroll-vaults-franchise-costs-fees-profit-and-data-2723979" target="_blank" rel="nofollow">Payroll Vault Recognized as a Top 100 Most Innovative Franchise by Franchise Business Review</a></li><li><a href="https://www.payrollvault.com/franchise/payroll-franchise-news-updates/payroll-vault-named-to-franchise-business-reviews-2023-culture100-list-1688682808553.html?utm_source=1851franchise.com&utm_medium=article&utm_campaign=franchise-deep-dive-payroll-vaults-franchise-costs-fees-profit-and-data-2723979" target="_blank" rel="nofollow">Payroll Vault Named to Franchise Business Review’s 2023 Culture100 List</a></li><li><a href="https://www.payrollvault.com/franchise/payroll-franchise-news-updates/payroll-vault-one-of-100-companies-named-a-2023-top-low-cost-franchise-by-franchise-business-review-1680560974973.html?utm_source=1851franchise.com&utm_medium=article&utm_campaign=franchise-deep-dive-payroll-vaults-franchise-costs-fees-profit-and-data-2723979" target="_blank" rel="nofollow">Payroll Vault One of 100 Companies Named a 2023 Top Low-Cost Franchise by Franchise Business Review</a></li><li><a href="https://www.payrollvault.com/franchise/payroll-franchise-news-updates/payroll-vault-announces-opening-of-payroll-services-firm-danville-california-1662500102728.html?utm_source=1851franchise.com&utm_medium=article&utm_campaign=franchise-deep-dive-payroll-vaults-franchise-costs-fees-profit-and-data-2723979#:~:text=With%2065%20locations%20across%20the,client%20service%20top%20of%20mind." target="_blank" rel="nofollow">Payroll Vault Announces Opening of Payroll Services Firm</a></li><li><a href="https://www.entrepreneur.com/franchises/directory/payroll-vault/334395?utm_source=1851franchise.com&utm_medium=article&utm_campaign=franchise-deep-dive-payroll-vaults-franchise-costs-fees-profit-and-data-2723979" target="_blank" rel="nofollow">Start a Payroll Vault Franchise in 2023</a></li></ul> Disclaimer: This content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained on this site constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any franchises, securities, or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the franchise and/or securities laws of such jurisdiction. All content in this article is information of a general nature and does not address the detailed circumstances of any particular individual or entity. Nothing in the article constitutes professional and/or financial advice, nor does any information in the email constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content in this article before making any decisions based on such information or other content.

Franchise Deep Dive: Payroll Vault’s Franchise Costs, Fees, Profit and Data

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