Highly Profitable Check Cashing - NOVA
VA-1708,
This highly profitable Check Cashing business has three locations near each other in a safe secure area. with no competition. They offer Checks Cashing, Wire Transfers (RIA, VIGO, Money Gram, Western Union), Money Orders, Virginia Lottery, Telephone Cards, TAX preparation, Bill Payment, Service Copy, Spanish translation and Notary services. Buyer must have $100,000-$150,000 cash reserve for working capital. Seller has other business interests.
Store #1 = S1
Store #2 = S2
Store #3 = S3
Annual Revenue: $390,000 (S1) *$150,000 (S2) * $200,000 (S3) *$740,000 Total
SDE ( Est.): $292,800 (S1) *$100,000 (S2) * $120,000 (S3) * $512,800 Total
Asking Price:$1,000,000 (S1) $250,000 (S2) $250,000 (S3) *$1,500,000 Total
Utilities/Phone:$4000 (S1) $2000 (S2) $2000 (S3) $8000 Total
Payroll: $30,000 (S1) $26,000 (S2) $25,000 (S3) $81,000 Total
Location type: Shopping Center (S1) Shopping Center (S2) Shopping Center (S3)
Square footage: 1400 sq ft (S1) 1200 sq ft (S2) 1800sq ft (S3)
Lease Expiration: 5 (S1) 0.4 (S2) 5 (S3)
Lease Option: 5 (S1) 5 (S2) 5 (S3)
Rent: **$1600 (S1) **$1200 (S2) **$4000 (S3)
Business Established: 1996 (S1) 05/2007 (S2) 11/2007 (S3)
Current Ownership: 2 years (S1) 6 months (S2) 3 months (S3)
Full-Time Employee: 1 (S1) 1 (S2) 1 (S3)
Business Hours: 9am-8pm (S1) 9am-7:30 pm (S2) 9am-7:00pm (S3)
*denotes estimated.
** denotes add back for sub lease.