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PROFILE: Payroll Vault
Sean Manning, CEO & Owner of Payroll Vault
on Operating a Successful Business Services Franchise “Our goal at Payroll Vault is to be a partner to our customers, not just a provider. We take a very consultative approach, meeting with the client, identifying their needs, and solving problems.”
able to help others at any given moment, to support and work through whatever challenge they may be facing, or thought they may have to learn, in order to start that individual success journey and be successful with the business.
What was the driving force behind starting the company? I owned a CPA firm, and we were doing payroll services as part of our more traditional offerings. We realized that if we wanted to grow the payroll part of what we were doing and to be a better service to our customers we had to segment it away from our current business model of the CPA firm. So, in 2008, we launched Payroll Vault as its own brand. We saw some really great results very quickly. We had been doing payroll for 20 years with the CPA firm, but once establishing Payroll Vault as a dedicated payroll entity, we saw our client base double over two years, and we’ve been growing ever since.
What services do you provide franchisees? Business ownership is a very interesting concept. Only about 10 percent of people in this country own a business. So when you award a franchise, you have an obligation to give them that foundation and the systems they need to operate. It’s important to us to hand off the foundations of a good business model, the business systems that also support the model, but more importantly the inspiration and leadership that they can trust. You have to be
Franchising USA
In 2011, the success we were getting for Payroll Vault started to get recognized, and we started getting a lot of people asking us to help them start their own payroll company and looking for tips and ideas about how to be successful, too. I realized that the best way for us to help these people would be to give them everything – the name, the brand, the systems, everything. And that’s what led us to consider franchising. We started franchising in 2012 and now have over 60 locations and continue to grow. Just last year our brand grew by over 25%, so we’re looking forward to that continued pattern of growth and helping people be successful with the Payroll Vault model.
