The Interface Financial Group
Date Incorporation: 1994
Franchising Since: 1994
Headquarters: Delaware
Description: Periodically, businesses who sell goods or services on deferred terms such as 30,60, or 90 days, need short-term funding and do not want to wait for their customers to pay their invoices. Interface Financial Corp purchase account receivable invoices at discounted rates (generally, at 90% of face value) from businesses and earn a profit when the full face value of the invoice is paid. All purchases are guaranteed by the client so that when Interface Financial Corp purchase an invoice, the client warrants or guarantees to Interface Financial Corp that payment will be received for the invoice purchased. If Interface Financial Corp does not receive payment from the client's customer, the client must replace the unpaid invoice with another invoice of equal or greater value. Interface Financial Corp service is available to any business with accounts receivable that meet our criteria.
Franchise Offer: Interface Financial Corp. are offering franchises for a financial services business which provides financial services to businesses by purchasing, for cash, their invoices at a discount (generally at 90% of their face value).
Financial Assistance: The franchisor does not offer any direct or indirect financing nor do they guarantee any note, lease or obligation.
Training and Assistance: Initial training is mandatory. It occurs once and takes place at the franchisors home office and at the franchise location, and lasts for a total of 6 days.
Territory: The franchisee will not receive an exclusive territory. The franchisor may establish other franchised or company owned outlets that may compete with the franchisee’s location. There is no minimum area. The franchisee must purchase at least $100,000 in invoices each 12-month period, or the franchisor may terminate the franchise.
Term of Agreement and Renewal: The term of the franchise agreement is 10 years with an option to renew for an unlimited amount of 5 year terms.
Obligations and Restrictions: The franchise business should generally be operated at least 8 hours per week. If the franchisee is an individual, they must personally direct and supervise the operation of the franchise business. The franchisee has no restrictions in hiring a supervisor, and any such supervisor has no equity interest requirements, nor is there any requirement for such a supervisor to complete the training program.
The franchisor requires the franchisee to offer only those goods and services that have been approved. The franchisee is not limited to the customers to whom they may sell. The franchisee must purchase at least $ 100,000 in invoices each 12-month period, or the franchisor may terminate the franchise.
Total Number of franchises Units: The total number of franchised units for the year ended 2007: 113
Investment Tables:
Initial Investment:
| Name of Fee | Low | High |
|---|---|---|
| Initial Fee | $36,000 | $36,000 |
| Living and Travel Expenses For Training | $500 | $1000 |
| Equipment | $800 | $1,300 |
| Initial Promotion | $1,000 | $1,000 |
| Additional Funds | $50,000 | $100,000 |
| Total | $88,300 | $139,300 |
Ongoing fees:
| Name of Fee | Amount |
|---|---|
| Royalty | 8% of Gross Profits |
| Monthly maintenance fee | $300 |
| Training Fee for Transferee | $5,000 |
| Audit | Cost of audit plus 5% interest on underpayment |
The above information has been taken from the UFOC/FDD of Interface Financial Corp.
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