We Are Here To Answer Your Questions
Let’s Get StartedGet ready to meet the huge demand for reputable, respectful collections services.
We understand the decision to own a collection company is a big one. We will be with you through every step of the process and as you thrive and grow in your business.
To begin, here are some of our most frequently asked questions.
What experience do I need to become a Checkmark Collections franchise owner?
- We don’t expect our franchises to “be all things to all people,” however, collection agencies must follow Federal regulations and must be licensed by the state government where they are officed. No previous collections experience is necessary; however an understanding of general business is expected. Further, any particular industry collections expertise will be welcome and encouraged (medical, financial aid, construction, etc.).
What is provided as part of the Checkmark Collections franchise program?
- Checkmark Collections’ initial training is provided for up to two people (including the franchisee and an operations manager), beginning with five days of online pre-training, followed by five days of pre-opening in-person training at our corporate offices. In conjunction with commencing business operations, within 30 to 90 days of opening, representatives of Checkmark Collections will spend four days assisting you, as the franchise owner, and your staff on-site at your location. You will also have access to the Checkmark Collections proprietary Confidential Operations Manual for guidance on daily operations, accounting, marketing, and more.
How much will the Checkmark Collections franchise program cost me?
- The total investment necessary to begin operation of a Checkmark Collections business ranges from $45,200 to $128,850 (depending on whether it is a home-based start-up franchise or a conversion model). This includes $25,000 that must be paid to the franchisor as a new Checkmark Collections franchised business or $17,500 that must be paid to convert an existing collections business into a Checkmark Collections franchise. Initial fee reductions are available for qualified military veterans. As with any new venture, it’s important to have adequate capital to fund the initial growth stages.
Is financing available?
- We do not provide direct financing to franchise owners, but we may refer to financing sources on a case by case basis.
Are there ongoing fees to pay?
- We charge a royalty fee equal to 10% of gross sales. There is also a compliance fee of 2.5% of gross sales and a technology fee starting at $240/month. Collected fees allow us to fund our ongoing support services and the continued development of programs, marketing tools and systems upgrades. For a full list of fees and requirements, please refer to our Franchise Disclosure Document (FDD).
Are there any advertising fees?
- Checkmark Collections franchise owners are required to spend 4% of gross sales toward local marketing contribute up to 2% of sales toward the system marketing fund. Collected funds will be used to develop marketing strategies to promote the Checkmark Collections brand and cover the costs to develop local marketing materials and campaigns.
What is the term of the agreement?
- The initial term of your agreement is five years, with three subsequent successor agreement options of five years.
How do I get started?
- If you’re interested in learning more about how to own a collection company with a Checkmark Collections franchise, contact us at (561) 678-2345 or firstname.lastname@example.org. We’ll discuss the possibility of setting up a meeting, speaking with our key management staff, and receiving our FDD (Franchise Disclosure Document) which contains all the important details you’ll need to make an informed decision.