Popular Check Cashing Business Essex County, NJ 32409

Essex County, NJ

Popular Check Cashing Business Essex County, NJ 32409
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Asking Price: $595,000

Cash Flow: $250,000

Gross Revenue: $500,000

EBITDA: N/A

FF&E: $50,000

Inventory: N/A

Established: N/A

Popular Check Cashing Business Essex County, NJ 32409

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Business Description

Less than three years old and this Essex County, New Jersey check cashing business is already generating significant
profit. And, growing. Senior partner wishes to diminish his involvement in the business and part, or all of the business
is now up for sale. Younger partner has been in this business all her adult life and she is willing to remain as a partner
or she will stay to train a Buyer.
The consumer check cashing business has been dwindling as Direct Deposit of payroll checks has increased and social
security and welfare payments are no longer paid by check. But, as that business has softened, the business to business
commercial check cashing business has strengthened. Many small businesses across the country lack presence in the
financial community. Generally, unless a business owner has audited financial statements and appraised business or
personal collateral to pledge, he or she is locked out of the lending markets. Many small Business owners have no lines
of credit and thus take full advantage of whatever the opportunities to obtain liquidity in order to meet day-to-day
working capital requirements.
Thus, the highly profitable commercial check cashing business.
But, experience in this field is absolutely necessary and, in this instance, it is on hand.
A packaging and shipping store is collocated and is available as well either separately or together with the check
cashing business. For more information, contact Gerald Nimberg, Senior Business Broker.

Detailed Information

Location:
Essex County, NJ
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Support & Training:
Yes
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Vested Business Brokers, Ltd

Business Listed By:
Vested Business Brokers, Ltd

Vested Business Brokers, Ltd

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