Business for Sale Overview:
A successful Check Cashing business located in a commercial mall center of Central New Jersey. The facility is ultra modern with a bank like structure and is conveniently located on a high traffic county road. The Check cashing industry offers a valuable service to a large portion of the general US population who do not have a banking relationship with major banks. The Business provides all types of cash transactions such as check cashing, Western Union, money orders, bill payments, copies and faxes. The opportunity includes a valuable check cashing license, all equipment and a database with over 4,000 active customers. The check cashing license gives the owner a protected geographic location of approximately one mile by state law. Additionally, the NJ Bank Division has approved a bill permitting check cash to increase the check cashing rate from 2% to 3% for 2010. The cost to start-up a new check cashing business such as this one would be $150,000 with no customer base, therefore making this a great opportunity. The present owner is retiring after many successful years and will assist in training a new owner. The business has been approved for bank financing.
For more information regarding this listing please contact us by completing the "Contact the Seller" form below. We look forward to hearing from you.
Property Features and Assets:
Facility consists of 1,800 square feet with an indoor capacity for 25 customers. The facility is ultra modern with a professional image. An existing lease with an additional 10 year option is available for transfer. Private parking is also included in the purchase.
Market Competition and Expansion:
Due to State requirement, no other Check Cashing businesses are in the immediate area.The business is presently lacking an updated marketing plan, which can substantially increase the income flow.
Reason for Selling:
Retirement
Additional Details:
- The property is leased.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.
Contact the Seller:
To contact the seller of this business for sale, please complete and submit the following email form. The seller or broker will be in touch with you typically within 1-3 business days. Fields with an asterisk (*) are required.