Check Cashing Business Established in 2000
Listing Price: $799,999
- Asking Price: $799,999
- Cash Flow: $450,000
- Gross Revenue: $700,000
- FF&E: $20,000
- Inventory: $5,000
- Established: 25
Business Description
Established Customer Base, Turn Key, High Traffic
A business like this rarely comes to market. This dedicated check cashing business was established 25 years ago. The current owners took over 3 years ago and have multiplied profits by 4x! Interior was remodeled in 2023. Business operation follows banking hours: open Monday thru Friday 9a-6p, Saturday 9a-3p, closed on Sundays and all holidays.
Easy operation typically handled by 1 employee but never more than 2. This business cashes almost every type of check and with confidence. They have a database with over 100,000 clients information and history. They cash huge check from lawsuit settlements down to income tax refunds and regular payroll checks. Whatever the amount, they can handle it.
Overhead is very low due to owners operating the business. Lease terms are very favorable as well. 1,500 square feet for $2,582/month (includes NNN).
Last time this business was on the market, they had an offer the next day. Don't sleep on this opportunity.
Business information will be shared after NDA and Proof of Funds are received. Financials will be shown in person by appointment only.
Detailed Information
Location: Wayne County, MI
Real Estate: No
Building SF: 1500
Lease Expiration: 2028-01-01
Employees: 2FTPT
Facilities: Renovated in 2023 with new flooring, paint, countertops, and signage. Prime corner location in a high-traffic shopping center. Includes 12-camera remote security system and daily patrol coverage.
Competition: There are 2 competitors nearby but they are not dedicated Check Cashing businesses with the privacy and ability to cash large checks like this business. This location also offers money orders, bill pay, debit card withdrawals as well as selling other good
Growth & Expansion: This business has seen tremendous growth over the last few years. There is still room to grow by adding the ability to cash business checks, increase marketing efforts and budget, also adding Lottery would increase foot traffic to then market your service
Seller Financing Available: Yes
Financing: 75% Down, Balance Amortized for 60 Months at 8%
Support & Training: Sellers will offer training for 30 calendar days post sale up to 4 hours per day.
Reason for Selling: Partners Relocating Out of State
Lease Info: Lease includes NNN
- Listing ID: 55259
- BizBuySell ID: 2412093
