United Financial Services centers provide a wide
assortment of vital services to consumers seeking an alternative to
traditional banking relationships. Our franchisees operate clean,
bright, safe retail centers designed to create a community-bank
atmosphere and they build strong customer relationships by
providing the type of friendly service not usually associated with
today’s banks.
In 1992, United recognized the value of offering
a franchising opportunity in this industry. After fifteen years of
successfully operating multiple check cashing centers in the
Philadelphia area, its principals decided to document their best
practices and began to expand their profitable business model
through a formal franchise system. Since then, the company has
shown more than 100 entrepreneurs how to establish and operate
their own business by serving this lucrative market
segment.
The United system has standardized the key
elements of a successful check-cashing center. It has created a
retail format that offers a warm, community bank-like atmosphere
for customers to conduct their business. It has identified a
consumer segment with unique demands not currently met by
traditional banking institutions and has assembled a full
compliment of products and services that meet their
needs.
Meeting Market
Demand:
United’s system also meets the demand for
convenient cash management by offering better hours and more
accessible locations than a typical bank. We cash their checks with
no holds while the funds clear the banking system for just a couple
of pennies on the dollar. We also assist them in paying bills,
wiring money and a host of other cash-based financial
transactions.
With banks continuing to charge fees and service
charges for more and more services on accounts with low balances,
many customers will continue to give up their relationships with
traditional financial institutions in favor of alternative
financial services providers.
Today, many Americans and two income families are
living from paycheck to paycheck. The economy has also created many
part-time jobs or “moonlighters” to supplement an
income or, in many cases, replace a traditional job. These
lifestyle changes are forcing wage earners to seek more convenient
alternatives to traditional banking relationships to manage their
finances.
And finally, the U.S. population is continuing to
diversify as immigrants from many countries are still seeking the
opportunity provided in America. Many of these newcomers, and even
their preceding ethnic groups, are not comfortable with banks and
prefer to manage their money on a simple cash basis.
United believes that these trends should continue
to fuel the demand for non-traditional financial service providers.
This belief, coupled with the fact that our same-store sales
continue to increase year over year, provides us with an optimistic
outlook for the continued growth of this category.
Over the past several years, our centers
have shown consistent growth in both check-cashing volume as well
as revenue from check-cashing fees and other services. In 2003,
United centers collectively cashed nearly $1.3 billion worth of
checks generating an estimated $30 million in fee revenue for its
franchisees.
Operational Support and
Training:
The Project Management Department will oversee the
design and construction of your center including architectural
drawings, permits, evaluation of contractor bids, procurement of
all furniture fixtures and equipment, networking of POS
workstations, software installation and all the necessary
requirements to obtain a certificate of occupancy. During this
phase we will provide a pre-opening marketing plan with tips and
tools to help you to create awareness for your new business in your
community.
United’s Training Group will teach you the
business. You will be provided with two weeks of practical,
classroom-style instruction at our National Training Center in
Philadelphia. The training includes all aspects of check
verification, the Point of Sale system, bookkeeping, security, and
marketing. In addition, we’ll be on-site during the first
week of your opening to assure you a productive start and
we’ll make two additional follow-up visits to your center
during your first year. On the marketing side, you will be provided
with “how-to” guides, in-store merchandising materials
and an interactive catalog of on-line promotional tools that are
continuously updated and expanded. A monthly newsletter, company
intranet and seminars round out your home office
support.
Your training will be supplemented with a copy of
United’s comprehensive Operations and Training Manuals and
audio-visual tools to assist you in training your staff. This
material is licensed to you and updated on a regular basis to
assure it is current with industry trends and technology
developments.
Get united with our success and discover this
unique way to build your financial future by managing cash
transactions with your own United Financial Service
center.
