---
title: "Payroll Vault Expands Footprint into North Carolina"
url: https://burnaze.com/article/57dc7824-8def-4863-ac42-9fb7a7a020a3
source: "Franchising.com"
original_url: https://www.franchising.com/news/20240705_payroll_vault_expands_footprint_into_north_carolina.html
category: "Finance"
topics: ["Finance & M&A","Development & multi-unit"]
published: 2024-07-05T12:00:00.000Z
modified: 2026-11-01T22:32:39.822Z
image: https://images.unsplash.com/photo-1560520653-9e0e4c89eb11?w=1600&q=80&auto=format&fit=crop
---

# Payroll Vault Expands Footprint into North Carolina

**TL;DR:** Payroll Vault is expanding into North Carolina with its first location in Wake Forest, owned and operated by Ryan and Shannon Mulhearn. The new location will offer a range of services including payroll, HR, and time and attendance to local small businesses.

*originally published in Franchising.com on 2024-07-05. [Read the original](https://www.franchising.com/news/20240705_payroll_vault_expands_footprint_into_north_carolina.html).*

## Story

WAKE FOREST, N.C. – Payroll Vault is excited to announce its first location in the Tar Heel State. The new location, owned and operated by husband-and-wife Ryan and Shannon Mulhearn, plans to begin serving local businesses in August.

Shannon brings an impressive background in mortgage-backed securities and a long career at Wells Fargo, and Ryan brings 30 years of experience in accounting and finance as a CPA. The two bring a wealth of knowledge and dedication to the venture.

“Opening a Payroll Vault franchise was a perfect fit for us in terms of the business model and our personal goals,” said Shannon Mulhearn. “We’ve been a part of The Triangle for almost 20 years and recognized the need for dedicated, personalized payroll services for our local small businesses.”

As part of their commitment to the community, the Mulhearns are involved in local organizations, including the Wake Area and North Raleigh Chambers of Commerce. They aim to build a business that’s not only about providing services but also about fostering community growth and success.

“Our goal is to embed Payroll Vault within the community so that local businesses recognize us as a trusted source,” said Mulhearn. “We look forward to serving locally owned small businesses and becoming an extension of their teams, offering prompt and personalized service.”

Payroll Vault of Wake Forest will offer a comprehensive suite of services, including payroll, HR, time and attendance, background checks, workers’ compensation, labor law poster services, and point of sale services in partnership with MiCamp. These offerings are designed to streamline business operations, ensure compliance, and support the growth of local businesses.

“Shannon and Ryan’s accounting and financial expertise, passion for helping small businesses, and dedication to personalized services make them the ideal Payroll Vault franchisee,” said Sean Manning, CEO of Payroll Vault. “We can’t wait to watch the Mulhearn’s business grow.”

## Entities

- Franchising.com (publication)
- unit expansion (topic)
- location expansion (topic)
- Finance (sector)
- franchisee (topic)
- north carolina (location)
- Wells Fargo (company)
- Payroll Vault (company)
- Sean Manning (person)
- Ryan Mulhearn (person)
- Shannon Mulhearn (person)
- MiCamp (company)

---
Originally reported by Franchising.com (https://www.franchising.com/news/20240705_payroll_vault_expands_footprint_into_north_carolina.html). Summarized by Burnaze (https://burnaze.com/article/57dc7824-8def-4863-ac42-9fb7a7a020a3).