1165 Buyers Online Now
Buy Business Sell Business Business Brokers My Account

Licensed Pawn Broker Company For Sale

9/wk
Passaic County, New Jersey, United States
Photos Website Map
Asking Price$125,000
Revenue$317,951 Established2010
Cash Flow$60,000 Employees1 full-time
FF&E$60,000* FranchiseNo
Inventory$25,000 RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Highly profitable industry, specializing in providing the highest loans or purchase for all gold, silver, diamonds, watches, coins, antique, jewelry, collectibles and more. The Pawn industry supplies short term loans with appropriate customer collateral at a very profitable interest rate or purchases valuables substantially below market value. The company is New Jersey State licensed & Bonded, has a safe and secure location and a friendly helpful staff that supplies professional service to their customers. They are knowledgeably and have been in the business for many years. They specialize in providing loans with interest rates at the highest prices allowed by law with the appropriate collateral. These business loans are offered on terms of 30 days and may be extended monthly as long as the interest has been paid, when the principle loan and interest are paid in full, the collateral is returned to the customer. The company also buys and sells U.S. coins which represents a substantial profit. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent investment return to the owner operator prior to debt service. This industry requires government agency approval to purchase. This retail facility which consist of 1,340 square feet with a modern professional appearance is located in a mid-size mall with various other active and successful businesses. This profitable business opportunity is located in Northern New Jersey, Passaic County, which consists of various highly populated communities with continued demand for this particular industry. This business has one employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $1,800. The business has an assignable commercial lease which expires 2020-01-01 plus additional options, with a monthly rent of $1,690 and rent security $1,690. The business is located in a commercial mall and the facility which consists of 1,340 square feet has a capacity for approximately twenty five customers. The business assists have an estimated value of $60,000, plus outstanding receivables of $100,000. The sale consists of a fully equipped commercial retail store, which includes displays, shelving, POS system, tables, computers, software including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to purchaser upon request. The facility has appropriate private mall parking on site as part of the commercial lease. The business is active six days per week, with hours from 9:30 am to 7:30 pm. The sale includes, New Jersey State license, a certificate of occupancy from the particular municipality and the required city licenses to conduct its day to day business. The owner will remain post-closing for a minimum of 60 days in order to supply an appropriate transitional period to the new operator. The seller / owner is retiring. The business will continue to develop based on its marketing plan, however the company’s web site should be optimized to improve the net income. To the best of our knowledge due to various circumstances, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser. The 2014 yearly gross income is $317,951 and the business has a yearly net income of $60,000 based on an owner operator and prior to debt service. The business has been valued at $125,000 based on a multiple of the net yearly income and 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.
Facilities:This retail facility which consist of 1,340 square feet with a modern professional appearance is located in a mid-size mall with various other active and successful businesses. This profitable business opportunity is located in Northern New Jersey, Passaic County, which consists of various highly populated communities with continued demand for this particular industry.
Competition:To the best of our knowledge due to various circumstances, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.
Growth Potential:The business will continue to develop based on its marketing plan, however the company’s web site should be optimized to improve the net income.
Training/Support:The owner will remain post-closing for a minimum of 60 days in order to supply an appropriate transitional period to the new operator.
Seller Financing:Seller financing is available to qualified buyers.
Sale Reason:Retiring after many years in the industry.
Ad #75669
Seller Reference #RETL217
The information in this ad has been provided by the business seller or representative stated on this ad. BuyBusiness.com has no stake in the sale of this business, has not independently verified any of the information about the business, and assumes no responsibility for its accuracy or completeness. Please read our Terms of Service before responding to any ad on our website.
Contact This Seller
Ron Cervelli
Regal Consulting Corp.
973-837-0808
Name
Email Address
Message