Updated: Aug 23
Payroll Vault is a boutique-style, full-service payroll company. It's designed for small and mid-sized businesses that may not need a large payroll services vendor and full suite of services those offer. The company is founded by a career CPA who identified the benefits of separating payroll from traditional accounting to achieve more efficient results. Because they understand small and mid-sized businesses, they are able to help them achieve their business growth objectives faster.
This is a great business opportunity, fueled by a multi-billion-dollar industry that is growing every day. Over the years, compliance standards have consistently and frequently changed. Also, Labor Law is evolving as technology advances and legislation is leading the way to increased complexity in all areas. These changes have made payroll processing time-consuming for small to mid-size business owners.
In 2008, Payroll Vault identified the need to focus on payroll and workforce management services to proactively aid in businesses’ success and efficiently while maintaining a highly personalized client touch. In doing so, a substantial market opportunity presented itself. Four years later, Payroll Vault launched as a franchise concept. It created an emerging opportunity for entrepreneurs across the nation to help support small business in their local professional community. They also have expert guidance from accomplished professionals in a rapidly growing industry.
In the United States, there are 30 million businesses that drive a $47 billion industry. Payroll Vault has emerged as the leading full-service payroll franchise opportunity for entrepreneurs, and a license opportunity for existing accounting firms.
Small businesses generate 65% of new jobs in the United States, and 97% of the businesses employ less than 100 employees. With regulations constantly changing on the city, state, and national levels, small businesses need a reliable, local provider that can provide a personal, consultative approach for their workforce management systems.
Payroll Vault provides an option to enter a Business-to-Business model as an Owner/Operator to minimize labor costs with no accounts receivable, credit cards, checks, or inventory needed. Changing compliance standards driven by legislation is keeping payroll in the top three outsourced business services. The company tracks the frequently changing payroll compliance standards, so companies avoid expensive payroll penalties. In addition to payroll and workforce management services, Payroll Vault offers HR services, workers compensation, time and attendance, Labor Law poster services, pay cards (alternative to paper checks with direct deposit is not an option), background checks and payroll financing.
This franchise opportunity offers monthly, quarterly, and annual recurring revenue streams which are scalable from a single location without needing a brick-and-mortar location. The annuitized revenue makes this business attractive and can be created as a legacy. This is also a good franchise opportunity for veterans and first responders. Leadership skills learned are transferable and invaluable. Perseverance and hard work are the keys to your entrepreneurial success and your proven leadership skills are the foundation to strong business growth. Whether you seek a bustling city, or sanctuary in a rural area, the perfect opportunity awaits you.
About The Author
Over 30 years of leading domestic and international businesses in the US and overseas, John Ovens has extensive experience operating multi-location companies globally. For more than a decade, John has helped individuals find alternative business opportunities for corporate employment. Contact John at 770-516-2184 or firstname.lastname@example.org with any questions about franchising or for more information on this opportunity.