TBT, Inc. has left the Checkcare Enterprises franchise organization and will begin doing business as TigerTranz as of June 1. All operations for the company’s client base of 7,500 locations have been consolidated into a new 9,000 square foot building in East Ridge, according to an announcement from Tim Romeo, TigerTranz president and CEO.
Mr. Romeo said TigerTranz has 70 employees in Chattanooga and hopes to create another 30 to 40 jobs here over the next year. In its eight-state region, the company employs over 100 people.
TBT was the largest franchisee of Checkcare Enterprises, a national point of sale provider company for businesses.
Mr. Romeo explained that as a franchisee, TBT was limited not only geographically by its franchise agreements but also by the franchisor only supporting check-related payment services. “After leaving Checkcare, TigerTranz will be able to offer more types of payment services to merchants anywhere in the U.S.,” he said. “And we could add as many as 2,000 new locations across the U.S. during the next year.’’
The company’s growth and evolution into a total payment solutions provider allows TigerTranz to offer clients a complete suite of transaction processing solutions, according to Mr. Romeo.
In addition to the original check guarantee and check verification services, TigerTranz offers returned check consolidation, bank card processing, gift care services, electronic check conversion, account receivable conversion, payment drafting services, an exciting new in-store credit extension service, a new automated medical payment program and the point of sale devices necessary to implement these services.
“Any way a customer pays a business, we can handle it,” Mr. Romeo said. “We’re a one-stop shop.”
TigerTranz clients range from Erlanger Medical Center to Favorite Markets.
Mr. Romeo founded TBT in 1986 as a franchisee in Chattanooga. A year later Bart Huckaby was hired and purchased stock in the company. Mr. Huckaby is now vice president and chief operations officer of TigerTranz.
In 1989 the fledgling company acquired the Greenville, S.C., area franchise. Over the years, TBT also acquired the Columbia, S.C. area, the area from Charleston, S.C. to Wilmington, N.C., the Mobile/Montgomery/Pensacola area and the Kansas City/Topeka franchise.
“The board of directors of TBT saw acquisitions and mergers as a way to grow the company, but just as importantly, as a way to gain talented people,” Mr. Romeo said. “Through the consolidation of operations into Chattanooga, Bart Huckaby has been able to grow a team of payment industry experts and check collection specialists.
“TBT is now able to realize efficiencies via economies of scale and improved management. Prior to the consolidation of operations, TBT was a needlessly redundant group of franchise operations in six different cities.”