Check Cashing

Union County, New Jersey

Business Summary: Large, very active check cashing business. Cash $18,000,000 checks a year. No competition within a 3-4 mile radius. Absentee run. Buyer may add to profit up to $40,000 w/c is currently the Manager’s full-time salary. Buyer can get good longer lease. OTHER EXPENSES: Bank charges- $21,600, Software maintenance- $1,200 and Bad debts- $5,000 = $27,800 in total.
Year Business was Established: 20
Number of Employees: 1FT 1PT
Competition: None in area within 3-4 mile radius
Owner willing to finance: 3 years at Prime + 2%
Owner willing to train: 2 weeks
Reason for selling: In other business