Welcome to the Future of Retail Financial Services
Industry Overview
$15 Billion plus industry
Over ½ of the American population needs our services
Customer base is growing every year
Recession resistant industry
Industry Overview
Check cashing stores:
Low income – inner city markets Dominated by mom and pop operators Unsophisticated = poor service
Payday advance-only stores:
Middle income markets Many chain operators Large bureaucracies = poor service
The Industry: Where it came from.
Banking Changes
Mergers closed thousands of branches in last decade
Holds on more deposits
Small, unsecured loans no longer available
ATM’s, Internet & automated phones = less service
Higher NSF & late payment fees
Strong Consumer Demand
Check cashing service:
We cash any kind of check (90+% payroll checks) Fast service with no 7 to 10-day holds Very reasonable fees (average 2% to 3%)
Payday advance service:
Low-cost “overdraft protection” Fast, no hassle service – cash in about 10 minutes
NSF & Merchant Fees
If two $50 checks bounce:
Bank charges ($35 each) Merchant fees ($25 each)
$ 50
Total Fees:
$120
$ 70
Or
Typical cost of $100 payday Loan
$ 15 *
* This charge varies by state
CASH PLUS: a leader in setting trends
Company Snapshot
Cash Plus was founded in 1984 Acquired by current owners in 1996 In 2010 – approx. 70 stores in 9 states Consistent industry recognition Franchise 500 – 13 out of last 15 years!!!! #59 – Hot Franchise 100 in 2010 Core services: Check cashing Wire transfers Money Orders
Payday advances MasterCard Debit Cards Bill payment centers
Additional Products & Services
Optional convenience services: Notary Public ATM’s Mailbox rentals
Prepaid phones / wireless Income Tax preparation Fax / Copies
Coming Soon: The Financial Cafe Insurance Savings accounts
Home mortgages Expanded telecom products
Cash Plus – The Support What makes us different from competitors? Site selection analysis & support Kings and Queens customer service programs Sophisticated marketing strategies Outstanding training & ongoing support Regular industry updates In-store operational visits Monthly newsletters Toll-free support hotline Conventions & regional meetings
Good Corporate Citizenship
Sponsoring really needy children around the world. In partnerships with Local, National and International charitable organizations.
Benefits of owning a Cash Plus
Fewer, un-skilled employees Shorter “banker’s hours” – no late nights Inventory is cash – never spoils Moderate investment – strong profit potential (Average investment $245,000 to $295,000)
Respected leader in community – like a banker
Franchise Opportunities
Current store offerings Single store ownership Multiple store ownership Area development opportunities
Current Express store offerings:
Single & Multi-store ownership
No Experience Necessary
Our franchisees come from all walks of life:
Executives & mid-level managers Professionals: lawyers, doctors & accountants Teachers, mechanics & nurses Policemen, truck drivers & software developers Former business owners & entrepreneurs Owners of many other franchised businesses Cash Plus even has a few bankers
The IDEAL Franchisee Strong desire to achieve Good people person Clean credit report & background Net worth: $400,000 – minimum $100,000 – liquid assets Management experience is a plus
Cash Plus – The Approval Process 1. Review Marketing Brochure and CP Website 2. Complete & return simple application 3. Attend a one-day Open House (Presentation, visit stores, Q & A, FDD) 4. Speak with some of our Franchisees 5. Make a decision about your future 6. Join the Cash Plus family
Cash Plus
The Future of Retail Financial Services