Check Cashing Service Business

Not Disclosed, TX
Dallas County

North Dallas


Asking Price: Annual Revenue:
$450,000 $302,468

Food & Beverage: Convenience Stores


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RE: Check Cashing Service Business Broker: Moon Kim
License #: 567204

Quick Facts

Asking Price: $450,000
Annual Revenue: $302,468
Net Profit: Not Disclosed
Cash Flow: $194,900
Total Debt: Not Disclosed
FF&E: $25,000
Real Estate: Not Disclosed
Year Established: 2008
Employees: 3
BBN Listing #: 519319188
Broker Reference #: 001001

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Business Overview:

High volume check cashing business located in a densely Hispanic area is available for acquisition. This business was established by the previous owner in 2008, and the previous owner installed a state-of-the-art money transfer & check-cashing booth, which was $45,000 in its cost. The business was acquired by the current owner in 2018. As a majority of the population in this area is Hispanic, the check cashing and money transferring service is rapidly growing, which is increasing yearly sales each year. Few competitors are within the immediate market area, but the growth of the business hasn't slowed down since its inception due to the high demand for check cashing & money transfer services. Gross sales average of this check cashing business is around $20,000 - $22,000 per month that has been consistent over the last several years with minimal marketing in place except through word of mouth. Proactive marketing is still needed to fully reach the potential this business can achieve through direct mailing, flyers, social media outlets, etc. Since this business runs as owner absentee, a full-time owner-operator will be extremely beneficial for this business as it will cut payroll expenses on having unnecessary employees and boosting the quality of the customer service. Acquisition of this business would be a great asset to the new owner as this business increase in revenue in this densely populated area of Hispanics where there's a never-ending demand for check cashing & money transfer services.

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Property Features and Assets:

The size of the check cashing booth is approximately a 100 Square Feet and is housed in a 3,225 Square Feet of retail strip center with extremely visible signage. The state of art bullet-proof check cashing booth and all I.T. equipment are in impeccable condition. / Inventory: Not Disclosed.

Market Competition and Expansion:

Competition: Few competitors are within the immediate market, but this check cashing and money transfer business has accumulated a solid repeat customer base for the 12 years of operation and hasn't stopped growing since the establishment. Growth and Expansion: The addition of check cashing/money order has spread word of mouth throughout the area where the business is located. Proactive marketing to nearby neighborhoods and businesses will increase revenue.

Reason for Selling:

Other Opportunities.

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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