3 Check Cashing and Money Services Stores

Burnsville, MN (Dakota County)

Seller Financing Available
3 Check Cashing and Money Services Stores

Asking Price:$395,000

Cash Flow:$144,500

Gross Revenue:$760,000

EBITDA:$144,500

FF&E:$58,000

Inventory:$11,900

Established:2001

3 Check Cashing and Money Services Stores

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Business Description

ABSENTEE OWNER!! This Three Location Check Cashing and Money Services Store company has been in business since 2001. There are no franchise fees and the owner is not involved in day to day operations. One store is in Burnsville and the other two are in St Paul. Their clients are very loyal and most have been clients for many years. The number of people with out bank accounts has been steadily rising and they need access to money services as well as prepaid phones and other services and products which could be added to stimulate growth.

Detailed Information

Inventory:
Included in asking price
Employees:
19
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Two of the locations are in High Traffic retail strip malls and one is in a freestanding building with dedicated parking. All locations are updated and well maintained with state of the art security.
Competition:
These locations have a very loyal customer base in the Latino community. All three stores are strategic locations and new stores cannot be licensed by the state within a half mile. The Burnsville store is fully licensed as a Currency Exchange, and the St Paul stores are currently licensed as a Money Service Business (MSB). By licensing the St Paul stores as Currency Exchange Stores, additional revenue can by realized.
Growth & Expansion:
Growth at the stores has been steady and stable. A more active buyer could add additional products and services. The stores recently added cell phones and prepaid plans which will increase growth in 2015.
Financing:
Seller will finance a portion of the sale
Support & Training:
Owner will fully train buyer. The locations are managed by employees, so training needed will be minimal.
Reason for Selling:
Moving

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Mac Thelen

Business Listed By:
Mac Thelen

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