Family Financial Centers
Family Financial Centers franchise for sale in Phillipsburg, New Jersey
List Price: $125,000 USD
Key Facts
Annual Gross Revenue
$130,000 USD
Cash Flow
$25,000 – $50,000
Seasonal Business
No
Value of Inventory
$0
Value of Assets
$25,000 – $50,000
Year Established
2000
Business Operates From
A retail location
Location Is
Leased
Approx. Monthly Rent
$1,500
Total Employees
Less than 10
+3 MonthsTransition
Support
SomewhatPrice/Terms
Flexibility
NoneSeller financing Available
Part-timeOwner
Involvement
About this Business
This listing is for a community based financial services location. This Money Service Businesses (MSB) is part of more than 13,000 MSB’s nationwide in the $106 Billion/year industry. There is a significant opportunity for growth by adding business customers.
This business has been in operation for 20+ years prior to current owner taking over in 2019. This location, as with all FFC locations, was deemed an essential business in every state FFC operates.
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Growth opportunities
This "essential" business has very loyal, stable customer base of both consumers and a few commercial accounts. Potential is increasing store hours and adding more commercial business(servicing small businesses) - the fastest growing segment in this industry. It makes up very small part of customer base. Local marketing & community involvement/visibility are opportunities.
Owner's Day-to-Day Involvement
Understand, oversee and fund the business. There are 2 employees who run the day-to-day business. The owner is ultimately responsible for compliance adherence.
Asset Description
All FF&E including teller stations, computer, safe, ATM, & surveillance system.
Inventory Description
FF&E is included in the sales price. Inventory is owners "cash' and IS NOT not part of the transaction.
Reason for Selling
Partners decided business was located too far away from their main location.
Why I Love My Franchise
Support, training, profitable, low number of employees needed.
About Family Financial Centers
Family Financial Centers (FFC) is a rapidly growing franchise in the financial services industry, offering a unique approach to financial services with a focus on personalized customer care in all 50 states. Specializing in services such as check cashing, payday loans, and money transfers, FFC operates in a recession-resistant market with a proven business model that addresses the financial needs of underbanked communities. The brand is committed to providing essential financial services in a friendly, community-oriented environment, ensuring accessibility and convenience for its customers. With a network of locations across the United States, FFC has positioned itself as a trusted provider in a $106 billion industry. FFC’s commitment to customer service and community engagement ensures franchisees are well-equipped to succeed in this essential industry.
Franchisee Support
Family Financial Centers provides robust support to its franchisees to ensure their success in the financial services industry. New franchisees undergo a two-week training program, including one week of classroom instruction and one week of in-store training, covering essential operations and customer service. Ongoing support includes site selection assistance, lease negotiation guidance, and recruiting assistance, empowering franchisees to grow their businesses effectively.
Brand Accolades & Awards
Family Financial Centers has received multiple awards recognizing its excellence in the franchise sector. The brand was honored with the FranTastic 500 Award by Franserve in 2021 and 2020 and was ranked in Franchise Business Review's Top 50 Franchisee Satisfaction Awards in 2020 and 2019. Additionally, FFC earned a spot on the Entrepreneur Franchise 500 list in 2021, showcasing its commitment to franchisee satisfaction and strong performance in the financial services industry.
Industry / Market
Family Financial Centers operates in the financial services sector, particularly focusing on money services and financial solutions. The U.S. tax preparation services market, a segment FFC taps into, is projected to grow from $14 billion in 2022 to $20 billion by 2027, at a CAGR of 7.5%. FFC leverages this growth by offering personalized financial solutions, appealing to individuals and families seeking reliable and accessible financial services.
Ideal Owner
The ideal Family Financial Centers franchisee is a financially savvy entrepreneur with a strong commitment to helping families achieve financial stability. They should be customer-oriented, organized, and capable of managing a team effectively. A background in finance or customer service is advantageous, along with strong communication skills to build relationships with clients.