Last Updated on July 30, 2012 by DeanR
Interface Financial Group Franchise
Interface Financial is a franchise for a business providing business financial services focusing on invoice discounting.
It was founded in 1972 and started franchising in 1990. It was founded by John Sheehy in 1972. Prior to Interface Financial, he was the appointed President of the Peabody Engineering Corp. of Canada. He has been the President and Chairman of the Interface Financial Group. He said that he has already perfected the system and procedure of invoice discounting and corrected all of its mistakes. The current Chairman is George Shapiro, current President is David Banfield, and current Director is Barry Rudolph.
They now have 138 locations in the United States, 14 locations in Canada, and 24 in other countries such as New Zealand, Australia, Singapore, United Kingdom, and Republic of Ireland. They have been recognized by Entrepreneur Magazine as part of the Top 500 franchises consistently in the past seven years. In 2010, they placed Top 101 in the Homebased franchises category.
What is Invoice Discounting?
What Interface Financial Group does is convert your commercial accounts receivable to immediate cash. They convert the 30 to 45 day payment terms to a “cash on delivery” sale and this helps you fund and finance your business to grow faster. The Interface Financial Group Solution will make your receivables part of your growth and profit. The Invoice Discounting solution lets you a financing alternative “use-it-as-you-need-it” as a cost-effective framework. They do not control your business because you are given the option to use their services as you please. There are no long-term commitments and monthly minimum payments. This means that you only sell your accounts receivable to them when you need cash immediately.
What are their target markets?
In the past, they have provided their services to Artwork Suppliers, Clothing Distributors, Commercial Printers, Courier Companies, Dry Wall Contractors, Electronic Assembly Companies, Environmental Subcontractors, Executive Search, Management Companies, Food Suppliers, High Tech Recyclers, Information Technology Services, Landscape Contractors, Manufacturers’ Representatives, Mobile Wash Service Providers, Plumbing Contractors, Real Estate Agents and Brokers, Roofing Contractors, Staffing Companies, Thermo-Corrosion Contractors, Training Schools, Waste Container Manufacturers, Insurance Restoration Companies, Machine Shops, Masonry Contractors, Painting Contractors, Publishers, Refrigeration Engineers, Sign Painters, Storage Tank Maintenance and Suppliers, Tile & Carpet Installers, and Trucking & Transportation.
Cost and requirements on running an Interface Financial Group franchise
You need to have a net worth of $250,000 and a total liquid asset of at least $75,000. Expect to be investing about $88,000 to $140,000. The cost of Interface Financial Group franchise fee is $36,000 with an on-going royalty fee of 8%. This is for a renewable 10 year term agreement. This franchise can be run from home. They do not allow absentee ownership.
What is included in the franchise package?
There will be two days training at the headquarters, three to five days at your location and on-going trainings. You will be receiving newsletters and a toll free phone number. You will be given access to the internet. Expect to be attending meetings and receiving occasional field evaluations. For marketing support, there will be ad slicks, co-op advertising, and national media.
Interface Financial Group Contact Details
You may reach them at:
Address: 7910 Woodmont Avenue Suite 1430 Bethesda, MD 20814
Phone: (800) 387-0860 or (905) 475-5701