Let’s face it, the need for financial services is never going away, regardless of how technology may influence the manner in which services are delivered. FFC’s community based financial service centers are the retail outlets delivering the needed services.
Who are FFC’s customers?
- The “Unbanked” – 9 million people in the U.S. don’t have a checking, savings, or money market account
- The “Underbanked” – 18% of adults still use an alternative financial service product
- Small Businesses – many small businesses need their checks cashed to make payroll and purchase materials for their next job
- More than 50% of Americans who are living paycheck-to-paycheck despite having a traditional bank account
All of these at times need their checks cashed immediately to
- pay their bills,
- wire money to relatives
- and to buy groceries.
FFC helps them avoid late fees and offers the convenience of a full service “local bank”, without the bank. And they’re treated with respect every time they come into one of our community-based financial service centers.
Who are FFC’s competitors?
- Small independent operators struggling to adhere to compliance requirements, adopt new technology, and focus on customer service. These often become acquisition targets for Family Financial Centers franchisees.
- Larger regional chains and large corporations with hundreds of locations.
FFC offers the sophistication and execution of a larger corporation with the personal touch consumers are drawn to.
- Looks and acts like your local neighborhood bank
- Uses the latest technology and systems required to compete in this evolving industry
- Meets state banking regulations which are insurmountable to many trying to enter or stay in this industry
As an FFC franchisee you can effectively compete in the community based financial services industry.