---
title: "Payroll Vault Opens New Franchise in Wake Forest, Raleigh"
url: https://burnaze.com/article/b85bf270-5929-419c-b421-7a4454cd8f70
source: "Franchising.com"
original_url: https://www.franchising.com/news/20240717_payroll_vault_opens_new_franchise_in_wake_forest_raleigh.html
category: "Business Services"
industry: "Business Services"
topics: ["Finance & M&A","Development & multi-unit"]
published: 2024-07-17T12:00:00.000Z
modified: 2026-10-31T18:42:48.880Z
image: https://images.unsplash.com/photo-1611974789855-9c2a0a7236a3?w=1600&q=80&auto=format&fit=crop
---

# Payroll Vault Opens New Franchise in Wake Forest, Raleigh

**TL;DR:** Payroll Vault has expanded in Wake Forest and Raleigh with a new franchise. The franchisee couple, Shannon and Ryan Mulhearn, have financial services expertise and were drawn to Payroll Vault's business model.

*originally published in Franchising.com on 2024-07-17. [Read the original](https://www.franchising.com/news/20240717_payroll_vault_opens_new_franchise_in_wake_forest_raleigh.html).*

## Story

Payroll Vault announced today it has expanded in Wake Forest and Raleigh, signing a couple with financial services expertise as its newest franchisee.

Entrepreneurs Shannon and Ryan Mulhearn chose a Payroll Vault franchise because it was a perfect fit for their backgrounds and personalities. Shannon has experience working with investors on mortgage-back securities; Ryan has a background in finance and accounting as a CPA.

“We could have met with a dozen more and would not have found a more impressive business model - from the business community we get to serve, to the full-time support on everything from operations, marketing, sales, systems, training, and more,” Shannon said. “Raleigh and the Triangle region is a growing market and small/medium-sized businesses are typically underserved in Payroll/HR Services.”

Payroll Vault offers small and mid-size businesses a full suite of services that include payroll solutions, HR solutions, background checks, worker’s compensation and payroll funding.

## Entities

- Franchising.com (publication)
- franchise expansion (topic)
- Business Services (sector)
- new location (topic)
- Raleigh (location)
- Payroll Vault (company)
- financial services (topic)
- Wake Forest (location)

---
Originally reported by Franchising.com (https://www.franchising.com/news/20240717_payroll_vault_opens_new_franchise_in_wake_forest_raleigh.html). Summarized by Burnaze (https://burnaze.com/article/b85bf270-5929-419c-b421-7a4454cd8f70).