Highly profitable check cashing franchise in an urban area of Passaic County, NJ. This franchise, founded in 1977, is a pioneer in the check cashing industry. This business generates an annual gross income of $666,102 and the owner can verify a consistent net income of $145,000. This is a clean safe industry with substantial growth potential to a motivated operator. Even as a semi-absentee owner, the business has a wonderful return on investment. United provides check cashing services, money orders, wire transfer, bill payment, prepaid Master Card, Lotto, Notary Public, Tax Service, and much more. This check cashing franchise consists of over 130 centers operating in dozens of states across the country. The owner has paid for the original franchise fee; purchaser is responsible for franchise transfer fee and requires approval. The sale includes various computer systems and terminals, phone system, software system and accounting systems, displays desks and chairs, etc. The facility has a capacity for 24 customers, 1,200 sq ft commercial setting, no basement. The business has private parking on the site and part of the lease agreement. The business is operational six days per week with hours from 9:00 am to 6:00 pm. The business has a license from the NJ Banking Commission for this service and requires approval and training from the franchisor. The sale includes a long term commercial eight-year lease with a monthly rent of $2,525 and rent security of $3,525. The business normally requires one-part time employee, which presently exists and is expected to remain post closing monthly payroll of $1,525. Based on the asking price, required down payment and yearly net income, this business expect to supply a dependable investment return to the owner operator. The 2015 yearly gross income is $666,102 and the business has a yearly net income of $145,000 based on an onsite owner operator and prior to debt service. The business has been valued at $375,000, based on a multiple of the average net yearly income which includes the value of the specific business assets and seller financing has been approved to a qualified buyer with an appropriate down payment, collateral and credit rating. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does not represent this particular business opportunity.
Asking Price $375,000
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