This highly successful check cashing firm operates from two store locations. 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. Both 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.
Two store locations in the San Fernando Valley.
Reason For Selling:
Large corporation divesting of non-core business