Cloud-based payroll service provider Payroll Vault will hold its first annual franchisee conference to at the Inverness Hotel in Englewood, Colorado, September 22-24, 2013. The conference is intended to serve as an education forum where Payroll Vault franchisees from across the country can gather to exchange ideas, participate in workshops, and learn through peer-to-peer interaction.
Payroll Vault franchise president and founder Sean Manning, CPA, stated “When you bring a group of professionals together who share a similar vision and the same goals within an environment of learning, it sets the stage for innovative thought and a rich educational experience. We want our franchisees to learn from our team, but also from each other—sharing stories of success and areas for improvement.”
Payroll Vault has enjoyed a successful first year, selling 11 franchisees in 7 states. To date, there are also several franchisees at various stages of the onboarding process.
“We’ve invested countless hours and resources building a sound payroll business model to ensure the success of our franchisees. Payroll Vault franchisees benefit from our sound business model, strategic marketing, and access to our years of experience operating a profitable payroll practice. We worked very hard to compile all of this hands-on expertise and knowledge into our first conference,” Manning said.
A Payroll Vault franchise offers prospective owners an opportunity to tap into the lucrative payroll revenue stream—without having to build a practice from scratch. Manning estimated that the cost to build a payroll practice from the ground up costs well over $100,000 dollars and requires a business planning commitment of more than 1,300 hours. The Payroll Vault franchise fee is far less than the estimated cost to launch a payroll business solely.