Multi-Unit Franchisee Magazine Issue I, 2013 | Page 15

Case Study: Restaurant Industry Restaurant franchise saves 100s of worker hours, achieves 100% e-pay with WEX rapid! PayCard rapid! PayCard Visa Payroll Card ® ® Overview NEARLY FAMOUS, INC. With the majority of its employees unbanked, Nearly Famous needed a payment method as reliable as paper checks but more efficient to distribute. The solution needed to reduce payday hassle without increasing costs. “WEX rapid! PayCard Nearly Famous, Inc. is a Burger King® restaurant franchise located in the southeast U.S. They have been in business for nearly 20 years. The franchise mainly employs young employees who are part-time workers in their 20s. has been a win-win for us and our employees. Employees get convenient, reliable access to their pay, while we eliminate payday headaches and hassles. It’s an ideal solution for the realities of the quick-service restaurant franchise.” Cindy Vaughn Co-Owner Nearly Famous, Inc. The Problem Most of Nearly Famous’ employees do not have bank accounts – a not-uncommon occurrence in the quick-service restaurant industry, where as much as 75-90% of employees remain unbanked. Many of their employees were not interested in ever getting a traditional bank account. Some employees who had bank accounts were even eliminating their accounts due to high fees. Paper checks were the only payment method that worked for everyone. But paper checks were inconvenient and time-consuming to distribute. Each pay period, a Nearly Famous manager had to reallocate several hours from his or her usual duties and instead drive to each of the franchise’s locations to manually distribute payroll checks. Not only did this hamper productivity company-wide, but it also distracted employees from providing a positive experience to customers. Employees would arrive at the restaurant locations to collect their pay, distracting the location manager and creating bottlenecks in the service area. The Goal Co-owners Brian and Cindy Vaughn needed an e-pay solution that was reliable, inexpensive, and above all easy-to-use. The solution needed to reduce payday inefficiencies while ensuring non-banked employees would be paid without interruption. They also realized that many of their employees would never have a traditional banking relationship, meaning direct deposit would not be an option. MC-033 APD-AHI (12/11) www.rapidpaycard.com 888.828.2270 [email protected]