Business Overview:
Seller Is Motivated!!!!!!!!!2 well established & profitable payday advance & check cashing services, with 2 locations: one in Los Angeles and the other one in the City of Ventura, can be purchased together as a packaged deal.These 2 businesses come with 60K in payday loan receivables (cash) included!The asking price for both locations together, with 60K payday loans is only 200K!Price was just reduced by $50K!!!!!!!!!!!!!!Established 6 years ago, both locations are well known, have a great reputation and very loyal customer base. They focus on providing payday loans, check cashing, money gram transfers, bill payments, and other miscellaneous services, such as: selling phone cards, copy and fax services and mail boxes.The Los Angeles location is 1100 sq.ft. With a 2700/mo. inclusive rent, with 3 years remaining on the current lease, and one 10 year option. The location has ample parking. It is producing over 120K+ in gross revenue, with the seller's discretionary income of 60K+, with one bilingual full-time employee (1600/mo.) and the seller working only 16 hours per week on Friday & Saturday. Open 5 1/2 days a week, Friday: from 9am - 6pm. Saturday, from 9am to 3 pm. This location comes with about 30K in payday advance receivables and 25K in FF&E.Asking price for this location by itself is 120K.The Ventura location is 600 sq.ft. with a 1200/mo. inclusive rent and a 5 year option, grossing over 100K annually with the seller's net income of over 50K. This location is owner absentee, with 2 bilingual full-time employees (1700/mo.), husband and wife, running the store. This location also comes with about 30K in payday advance receivables and 15K in FF&E.Asking price for this location by itself is 80K.Seller will train and assist in obtaining all required licenses and permits for a smooth and easy transition. This is a recession proof, very profitable business with low overhead that is easy to run with no experience needed.For more information contact Alexander Neyman, Sunbelt of Pasadena, at 213-706-7166 (cell) or at alney@sunbeltnetwork.com.
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Reason for Selling:
Other interests
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.