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.
Asking Price $575,000
You May Also Like
Prime Pay Day Loan Business #455010 posted Sep 30, 2016
- Pocola, Oklahoma, United States
Pay Day Loan business with an absentee owner. Operated with one assistant.
Established Pawn Shop For Sale In Central Iowa #454594 posted Sep 24, 2016
- Polk County, Iowa, United States
- Available On Request
Established central Iowa Pawn shop for sale. This business has been in operation for many years and is doing well. The current owner wishes to retire. Business is situated in an ideal part of town for Pawn Business. The city is no longer giving out Pawn licenses so this is a great opportunity to get...
Turnkey Payday Loan Business #410739 posted Jun 30, 2016
- Missouri, United States
Great turnkey Pay Day loan business with a history of regular repeat customers. Excellent location on busy highway in a growing community. Business is currently run semi-absentee, and new buyer would continue that or run more hands on. Current owner maintains excellent records and has a great reputation...
Disclaimer: MergerNetwork has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness.