Payday loan businesses are flourishing. Thousands of business owners are making huge profits providing cash advances. Various franchise companies are offering their assistance in starting and operating your new payday loan business. The question arises, "Is their help necessary? Is it worth paying a payday loan franchise company to teach you the basics?" Please note that WE DO NOT offer payday loan franchises for sale. We do provide different training materials and payday loan startup Manuals, but we do not believe franchises make sense at this time. The cash advance franchise industry is still in its childhood. It is unlikely to find stable, well acknowledged payday loan companies with branding evoking consumer recognition yet. Granted you were planning to become a part of the hamburger industry you would have no choice but to join a McDonalds or Burger King Franchise network to succeed. Being the experts in the payday loan industry with our first location in Garden Grove, California, we offer the following answers to the payday loan franchise question: If you need a lot of help in starting ANY business, our answer is YES - purchase a payday loan franchise. If you are eager to "buy a job", our answer is YES - purchase a payday loan franchise. If you do not have anything against giving away 8% of your gross sales monthly, our answer is YES - purchase a payday loan franchise. However, if you have the minimum $115,000 to $185,000 cash available to purchase a payday loan franchise, our answer is NO. Make all these funds work rather than hand them over to a franchisor. If you can agree that "someone in a faraway land" dictates when to start and when to close your cash advance business, our answer is YES- purchase a payday loan franchise. If you need freedom to opt for the very best payday loan software solution for your own situation, rather than have the software developed by the payday loan franchisor that "stuffed your throat", our answer is NO, do not purchase a payday loan franchise. Keep in mind: over than 30 payday loan software solutions are available in the industry now! A great many of these are less than $1000; many are under $500. Never let a payday loan franchise company to make you believe their software solution is the best; even if they claim $700,000 in development costs. In addition, many cash advance franchise companies simply resell another company's payday loan software adding extra charges to the franchisee. If you’re worried about starting a payday loan business by yourself and being "the lone-ranger", set your worries aside. You do not need to pay a payday loan franchisor for partnership, subscribe to Checklist Magazine (our industry trade magazine), join FISCA and/or CFSA (the national payday loan organizations), join your state trade group, and finally call or email us!
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