- 2024 Franchise 500 Rank
-
#409 Not ranked last year
- Initial investment
-
$14K - $101K
- Units as of 2023
-
263 18% over 3 years
Padgett Business Services was founded in 1965 and started franchising ten years later. Their head office is located in Athens, Georgia. Upon inception, Padgett Business Services' initial objective was helping small businesses with financial issues like their taxes. When the company started franchising in 1975, their services expanded to include helping with processing credit cards, business consultancy, financial reporting, management, and more.
Outside of the U.S., Padgett Business Services has a strong presence in Canada.
Why You May Want to Start a Padgett Business Services Franchise
Becoming a part of the Padgett Business Services team does not require an exorbitant amount of expertise. If you are an entrepreneur with dreams of running your own business, then you may be good to go. The company is always ready to welcome new franchisees to its ranks.
Padgett Business Services is vast and works with startup franchisees to achieve their dreams. They offer opportunities based on your ideas and expertise, along with counseling and advice. The franchiser will provide franchisees with training on everything they need to know about running a business and how to handle finances. There are training courses on public relations, best programs, marketing techniques, handling taxes, the latest technologies, and applicable standard systems.
Padgett Business Services does all it can to make the process of opening a location easiest for you. The company also hasn’t forgotten its initial goals to make life for small businesses as hassle-free as possible. As a franchisee, you will be expected to have the same attitude.
What Might Make Padgett Business Services a Good Choice?
As a business owner, it's quite common to become so occupied with the process of promoting and selling your business that you have little time to allocate to financial challenges and opportunities that come with it. Padgett Business Service plays an important role in small companies becoming the best version of themselves.
To be part of the Padgett Business Services team, you should make sure you’re financially ready for an initial investment that will include a franchise fee and other potential startup fees. These will include royalty fees and possible renewal fees.
Most business owners know how to run a business, but still require a lot of guidance and hand-holding to grow their brand. With Padgett Business Services, you will get the satisfaction of watching small budding businesses grow into something successful.
How to Open a Padgett Business Services Franchise
As you decide if opening a Padgett Business Services franchise is the right decision for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
To start a Padgett Business Services franchise, you need to ensure that you have enough initial capital and are business savvy. It may be wise to speak with a financial planner and an attorney before submitting an inquiry to Padgett Business Services requesting more information about franchise opportunities.
If you qualify as a franchisee, you will sign various documents and answer more questions. After that, you will sign up for training with the franchise. Continuous support will follow as you proceed with the purchase of your Padgett Business Services franchise.
Company Overview
About Padgett Business Services
| Industry | Financial Services |
|---|---|
| Related Categories | Business Financial Services, Business Coaching & Consulting, Tax Services |
| Founded | 1965 |
| Parent Company | SmallBizPros Inc. |
| Leadership | Jeff Phillips, CEO |
| Corporate Address |
160 Hawthorne Park Athens, GA 30606 |
| Social | Facebook, LinkedIn |
Business Overview
| Franchising Since | 1975 (49 years) |
|---|---|
| # of employees at HQ | 18 |
| Where seeking |
This company is offering new franchises throughout the US. This company is offering new franchises in the following international regions: Canada |
| # of Units | 263 (as of 2023) |
|
|
|
Information for Franchisees
Here's what you need to know if you're interested in opening a Padgett Business Services franchise.
Financial Requirements & Ongoing Fees
Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
|
Initial Franchise Fee
|
$12,950 - $59,700 |
|---|---|
|
Initial Investment
|
$14,450 - $100,675 |
|
Net Worth Requirement
|
$100,000 |
|
Cash Requirement
|
$100,000 |
|
Veteran Incentives
|
$4,000 off franchise fee |
|
Royalty Fee
|
9% |
|
Term of Agreement
|
10 years |
| Is franchise term renewable? | Yes |
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
| On-The-Job Training | As needed |
|---|---|
| Classroom Training | Up to 80 hours |
| Ongoing Support |
Newsletter
Meetings & Conventions
Toll-Free Line
Online Support
Security & Safety Procedures
Field Operations
Proprietary Software
Franchisee Intranet Platform
|
| Marketing Support |
Ad Templates
National Media
Regional Advertising
Social Media
SEO
Website Development
Email Marketing
|
Operations
Additional details about running this franchise.
| Is absentee ownership allowed? | No |
|---|---|
|
Can this franchise be run from home/mobile unit?
|
Yes |
|
Can this franchise be run part time?
|
No |
| # of employees required to run | 1 |
|
Are exclusive territories available?
|
No |
Franchise 500 Ranking History
Compare where Padgett Business Services landed on this year's Franchise 500 Ranking versus previous years.
Additional Rankings
Curious to know where Padgett Business Services ranked on other franchise lists? Find out below.
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