Check Cashing Business in Essex County-32409

Not Disclosed, NJ
Essex County

Asking Price: Annual Revenue:
$595,000 $500,000

Services: Non-classifiable

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RE: Check Cashing Business in Essex County-32409 Broker: Gerald Nimberg
Owner Financing is Available!
595,000.00 Down & TBD

Quick Facts

Asking Price: $595,000
Annual Revenue: $500,000
Net Profit: Not Disclosed
Cash Flow: $250,000
Total Debt: Not Disclosed
FF&E: $50,000
Real Estate: Not Disclosed
Year Established: 2017
Employees: 3
BBN Listing #: 53544447
Broker Reference #: 32409

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Business Overview:

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 partneror 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. Please use email reply button of this ad to contact us.

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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.

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