Locke, who built a chain of 31 payday advance stores in Michigan since 1999 under the name of Cash Now, said the timing is right to franchise his concept.

"Since we started Cash Now just six years ago, four of the national payday advance chains have moved into Michigan," Locke said. "There are currently 20,000 payday advance stores in the U.S. with room for another 40,000. Our franchise concept is based on simplicity, low overhead, no franchise fee and good customer relations. We have a strong track record of competing against the national chains. In 2004, Cash Now doubled its size from 14 to 28 units while gaining marketing share in mature stores. There were trademark issues nationally that prevented us from using the Cash Now name. Therefore, we re-branded our name to Advantage Cash Advance and are franchising our concept accordingly."

Locke said that he hopes to re-define franchising with his concept that offers:

-- No franchise fees. ACA does not charge a franchise fee. ACA only incorporates an industry standard royalty fee for the first store and will make an investment in the first store. ACA also offers a lower royalty fee for each additional store as an incentive for the franchisee to open more locations.

-- Low overhead. The concept is based on 10 hours per day, 5.5 days a week. The stores are typically located in strip malls. The operators can run the first store alone or with a minimal staff.

-- Good customer relations. The majority of Cash Now business is repeat customers. Our business model is designed to provide convenience and serviceability to our customers.

"We are organizing Advantage Cash Advance so that we are a partner with each franchisee for their first store," Locke said. "It is in both of our interests to succeed. Once we teach them the business, they can then add additional stores at a substantially less royalty fee."

Source:PrimeZone