Long Established Check Cashing Business 001179
Long established High-Volume Check-Cashing store is available for acquisition. This business was established in the area several decades ago in 1985 and was later acquired by the current owner of the business in 2005. Placed in an 850 SF center space of a retail strip center that sits next to a busy intersection surrounded by numerous retail businesses. Most of the customers are long-term customers and blue-collar individuals from the surrounding densely populated residential neighborhoods as well as construction sites from the adjacent cities. Gross volume is around $22-23 million/year from only check cashing and some lotto without any marketing done for the business. As the operation has been running for decades in the same location, many of the customers are permanently established for this business and marketing isn't necessary to generate consistent revenue. Additional marketing can be done to grow the business by increasing the visibility from the busy intersection and types of services this business provides. The owner of the business operates this business on a full-time basis and manages all the books and records for the operation. Streamlining a few of the processes as well as hiring a trusted individual as an employee will allow the business owner to focus on growing the business. This business will provide an amazing opportunity to acquire a consistent stream of revenue that has gone through decades of proven history that won't see any negative changes to the business in the near future.
The owner of the business will provide the necessary training needed to smoothly transition into the business operation.
This business is located within an 850 SF center space of a retail strip center that is nearby many densely populated residential neighborhoods and next to one of the busiest intersections in the local area.
There are few competitors within the immediate market area, but can't compete with this business. The operation has been going on for several decades and already has an established presence in the local area.
The potential for growth within this business is huge. There are many untapped areas of services that are normally provided at check-cashing businesses that this business isn't currently utilizing. The new owner will benefit from consistent revenue and opportunities for growth.
100% down at the time of closing.