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Check Cashing Franchise For Sale

11/wk
Passaic County, New Jersey, United States
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Asking Price$375,000
Revenue$666,102 Established1996
Cash Flow$145,000 Employees1 full-time
FF&E$120,000* FranchiseYes
Inventory$1,500* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Highly profitable check cashing franchise in an urban area of Passaic County, NJ. This franchise, founded in 1977, is a pioneer in the check cashing industry. This business generates an annual gross income of $666,102 and the owner can verify a consistent net income of $145,000. This is a clean safe industry with substantial growth potential to a motivated operator. Even as a semi-absentee owner, the business has a wonderful return on investment. United provides check cashing services, money orders, wire transfer, bill payment, prepaid Master Card, Lotto, Notary Public, Tax Service, and much more. This check cashing franchise consists of over 130 centers operating in dozens of states across the country. The owner has paid for the original franchise fee; purchaser is responsible for franchise transfer fee and requires approval. The sale includes various computer systems and terminals, phone system, software system and accounting systems, displays desks and chairs, etc. The facility has a capacity for 24 customers, 1,200 sq ft commercial setting, no basement. The business has private parking on the site and part of the lease agreement. The business is operational six days per week with hours from 9:00 am to 6:00 pm. The business has a license from the NJ Banking Commission for this service and requires approval and training from the franchisor. The sale includes a long term commercial eight-year lease with a monthly rent of $2,525 and rent security of $3,525. The business normally requires one-part time employee, which presently exists and is expected to remain post closing monthly payroll of $1,525. Based on the asking price, required down payment and yearly net income, this business expect to supply a dependable investment return to the owner operator. The 2015 yearly gross income is $666,102 and the business has a yearly net income of $145,000 based on an onsite owner operator and prior to debt service. The business has been valued at $375,000, based on a multiple of the average net yearly income which includes 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:Located in Northern New Jersey Passaic County, New Jersey on an active county road close to major state highways for quick access. The business has an excellent location near numerous urban communities with substantial businesses which require this service. The facility is on an active commercial avenue with numerous businesses and consists of 1,200 square feet with private parking as part of the lease agreement. The facility has a clean professional image and specifically designed for this service.
Competition:No other check cashing businesses are in this particular area, the franchise offers a non compete distance for each franchise and the seller will supply a non compete agreement.
Growth Potential:With an improved marketing plan to promote additional income this business can be substantially improved repressing a greater profit.
Training/Support:The seller will supply a full transitional period and remain sixty days’ post closing.
Seller Financing:Seller financing is available to qualified buyers.
Sale Reason:The seller is retiring from this industry after many years.
Ad #87014
Seller Reference #CKCH117
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
973-837-0808
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