Here’s a perfect, profitable business for absentee owners and passive investors. 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 company’s 2015 cash flow of $485K is likely to get even stronger, thanks to improved management and an emphasis on cashing business checks. The three stores combine to average more than $4 Million per month in cashed checks. Two of the three locations require only one fulltime employee while an excellent general manager oversees all operations, including making bank deposits.

Expenses are not substantial and rents are low. The stores need just 800 square feet of retail space to operate comfortably and there is no special buildout 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.

There is huge potential to increase profits with an experienced check cashing operator or savvy executive who has strong banking relationships. Profits could explode with a new owner who’s able to secure same-day credit from their financial institution, allowing the company to offer payday loans and other services that are currently unavailable.

The company makes solid profits with no advertising, no website and no coupons or discounts. It’s a terrific opportunity for a financially-sophisticated investor wanting to spend very little time on a very profitable enterprise.

Posted Jul 8, 2016

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