Profitable Check Cashing Stores in 3 Locations

California

Business Summary: This highly-successful check cashing firm operates from three store locations, two in the San Fernando Valley and a third in central LA County. It's an 8-year old company that grew quickly by providing excellent service and competitive rates to check cashing customers in working class neighborhoods and employment centers.The three stores combine to average more than $4 Million per month in cashed checks. Two of the three locations require only one full time employee while an excellent general manager oversees all operations, including making bank deposits. The stores need less than 800 square feet of retail space to operate comfortably and there is no special build out required. All three locations are currently leased on a month-to-month basis so a new owner has the opportunity to put long-term leases in place and secure substantial profits for years to come. The company makes solid profits with no advertising, no website and no coupons or discounts.A new owner will need substantial liquidity for startup capital. This opportunity is perfectly suited for an experienced check cashing operator who knows the industry and is currently working with existing banking relationships.There are three nicely-built-out check cashing store locations. Two are less than 1,000 square feet of retail space, the third with more than 2,000 sq. ft. of space which could potentially be sub-leased. All three locations are currently leased on a month-to-month basis so a new owner has the opportunity to put long-term leases in place and secure substantial profits for years to come.
Year Business was Established: 2007
Number of Employees: 4 FT / 2 PT
Facilities / Terms of Lease: Various locations. Leases all month-to-month.
Potential Growth/Expansion: These store locations have enormous customer loyalty among personal and business check cashers. For years small businesses have relied on the company for steady customer service. That loyalty will mean a lot to the buyer who inherits a move-in-ready business.
Owner willing to finance: Yes
Owner willing to train: Two Weeks
Reason for selling: Large corporation divesting of non-core business