Payroll Vault provides comprehensive payroll and workforce management services for small to medium-sized businesses, offering customized solutions to meet specific business needs.
KEY FRANCHISE STATS
Franchisees
?
54
+
-2%
-2%
Franchise fee
?
$68,500
Investment
?
$77,000 - $112,000
Revenue (AUV)
?
Undisclosed
$188,000
+
n.a.
n.a.
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Payroll Vault is a boutique-style payroll services franchise founded in 2008 by Sean Manning in Colorado. Headquartered in Littleton, Colorado, the company began franchising in 2012 to expand its client-focused model nationwide.
The franchise offers comprehensive payroll and workforce management services tailored to small and medium-sized businesses, including tax filing, HR solutions, and timekeeping.
What sets Payroll Vault apart from larger competitors like ADP and Paychex is its personalized, community-oriented approach.
Franchisees are encouraged to become deeply involved in their local business and social communities, fostering strong relationships and trust with clients. This emphasis on local engagement and customer service has contributed to high franchisee satisfaction and a strong brand reputation.
Initial investment
The initial investment required for a Payroll Vault franchise is
$77,000 - $112,000.
That is the total cost you would need to finance if you were to start this franchise.
These costs are provided by the franchisor in the Franchise Disclosure Document.
Type of Expenditure
Amount
IFF
$68,500 – $88,500
Rent
$0 – $800
Rental Improvements
$0 – $400
Deposits
$0 – $1,000
American Payroll Association Training Fee
$0 – $1,810
Training Expenses
$0
Computer System
$225 – $1,225
Furniture, Fixtures, Equipment, and Phone Lines
$150 – $650
Technology Startup Fee
$1,500
Insurance and Professional Services
$4,000 – $6,000
Additional Funds – 3 months
$3,000 – $10,000
TOTAL
$77,375 – $111,885
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Type of Expenditure
Amount
IFF
$68,500 – $88,500
Rent
$0 – $800
Rental Improvements
$0 – $400
Deposits
$0 – $1,000
American Payroll Association Training Fee
$0 – $1,810
Training Expenses
$0
Computer System
$225 – $1,225
Furniture, Fixtures, Equipment, and Phone Lines
$150 – $650
Technology Startup Fee
$1,500
Insurance and Professional Services
$4,000 – $6,000
Additional Funds – 3 months
$3,000 – $10,000
TOTAL
$77,375 – $111,885
Franchise Disclosure Document
Below is Payroll Vault's 2024 Franchise Disclosure Document. Upgrade to Pro or purchase the FDD to view and download the document.
Number of units
Payroll Vault had 55 total units in 2024, of which 54 were franchised-owned and 1 company-owned.
Payroll Vault provides a comprehensive training program for franchisees to ensure effective business operations:
Franchisee Training Program: This foundational training is conducted entirely online and includes three days of instruction. Day 1 focuses on the company’s mission, industry overview, competition, and administrative services. Day 2 covers sales and marketing. Day 3 addresses operations, software usage, and hiring and management practices.
Payroll Software Training: Franchisees or their designated Principal Operators must complete approximately 32 hours of recorded online training provided by iSolved, Payroll Vault’s payroll software partner. This training includes both instruction and testing and must be completed before the business opens.
APA Training: As part of the preparation for launching the franchise, franchisees must complete training from the American Payroll Association. Prior APA membership may fulfill this requirement, otherwise a new membership and completion of the training is necessary.
Additional Training and Support: After the initial 12 months of operation, franchisees can request—or may be required—to undergo additional training. This includes extra software instruction or support for maintaining operational standards. These sessions may be delivered online, at the franchisee's location, or at the franchisor's headquarters, with associated costs covered by the franchisee.
Territory Protection
Payroll Vault does not offer exclusive territory protection to its franchisees. While a franchisee is assigned a defined territory, the franchisor explicitly states that it may permit other franchisees, company-owned businesses, or affiliates to operate within that same territory.
This means franchisees could face competition from other Payroll Vault entities even within their designated area. Additionally, Payroll Vault's marketing efforts, including online and social media campaigns, are designed to attract potential clients nationally without regard to specific territories.
If an inbound lead does not request a specific franchisee, the lead is directed based on location, but this does not preclude overlapping efforts. Therefore, the lack of exclusivity in territorial rights could affect a franchisee's ability to control client acquisition within their area.
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