Payroll
Payroll Vault Partners with Oakscale to Grow Franchise Network
Payroll Vault has nearly 60 locations nationwide, providing a suite of services to support small business owners in handling payroll, HR, time and attendance tracking ...
Aug. 17, 2023
Payroll Vault, a payroll franchise providing small businesses with comprehensive localized payroll services and workforce management solutions, has partnered with Oakscale, a developer helping emerging franchise brands reach their full potential, to oversee franchise development throughout the United States.
Founded in 2008 and franchising since 2012, Payroll Vault has nearly 60 locations nationwide, providing a suite of services to support small business owners in handling payroll, HR, time and attendance tracking, workers’ compensation, background checks, labor law poster compliance, and more. Through its partnership with Oakscale, the company plans to have 70 operating units throughout the United States by the end of 2023 and more than 100 open by the end of 2024.
Payroll Vault serves as the internal payroll department for thousands of businesses nationwide, delivering a dedicated team of experts and a suite of the most effective HR outsourcing solutions. The company’s strong commitment to helping businesses succeed, combined with its unparalleled customer service, enable operators to personalize payroll services for each client and optimize workforce management. Small business owners outsourcing these tasks to Payroll Vault focus on running their businesses and serving their clientele, confident that payroll processing is secure and compliant.
Payroll Vault’s innovative, proven franchising model is designed to let entrepreneurs who share the brand’s vision capitalize on unmet demand among small businesses across the nation. The recession-resilient opportunity delivers a steady flow of customers, diversified revenue streams and a strong network of support. Comprehensive training, advanced cloud-based technologies for payroll processing, and a host of marketing materials and methods help operators connect with local small businesses, provide a wealth of needed services and build long-lasting relationships. Franchisees require no prior accounting experience and enjoy unrestricted territories, ease of operation, freedom from brick-and-mortar buildouts and minimal labor requirements. They operate in minimal home or offsite office space, and work almost entirely remotely other than attending networking events and occasional in-person meetings to maintain client relationships. The concept is perfect for those seeking to break into the multi-billion-dollar payroll industry and free themselves from being chained to an office desk building wealth for someone else. It is also ideal for stay-at-home parents or retirees.
“My whole life, I’ve helped small business owners be successful in running their businesses,” says Payroll Vault founder and CEO Sean Manning. “With the Payroll Vault franchise program, we’re taking that to the next level, helping people who want to be in the payroll business be successful in it. Payroll services are definitely growing – the need for it, the resources around it, etc., so there are plenty of opportunities for aspiring business owners with us.”
Payroll Vault was named a top low-cost franchise, a best-in-category franchise and a top 100 most innovative franchise for 2023 by Franchise Business Review and repeatedly receives high marks for franchisee satisfaction. Oakscale co-Founder and CEO Joshua Kovacs says he was eager to add the company to Oakscale’s portfolio of specialty franchise brands because of how happy its existing franchisees are with the brand and how committed they are to its success.
“Because of its low investment and unique territory parameters, digital nomads, corporate veterans and others who want a recurring revenue stream and the flexibility of operating from anywhere love this brand,” Kovacs says. “We are excited to work with Payroll Vault because it has strong financials reported in its Franchise Disclosure Document, a ton of operating history dating back to Sean’s entry into accounting business in 1990, and a fervent devotion to realizing its vision, maintaining a supportive culture and continuously enhancing its business model. These factors combine with the result that Payroll Vault franchisees consistently register some of the highest satisfaction levels reported by Franchise Business Review.”