Business Overview:
PRICE REDUCED - Profitable Pawn Shop
This is a absentee to semi-absentee opportunity! Current owner does not actively work in the business, and only has to manage books and records, and makes about $100,000 per year.
Shop currently has about $90,000 of outstanding loans, with 22% interest. They currently loan at an average of 35% loan to value.
The store could not be in a better location, as the business is situated on a very highly trafficked street, with fantastic road frontage. The store is 4600 sqft, with a large showroom, walk-in safe, and storage room. The real estate is available for purchase for the right offer.
The owner and his partner owned and operated multiple pawn shops together throughout the 1980s and 1990s. In 2000 the owner bought out his partner and decided to merge the assets of two of his pawn shops together, forming the current business available for sale.
In addition to buying out his partner and combining locations, the owner made the decision to stop leasing his locations, and to purchase the real estate in 2002. His business grew so much that in 2010 he had to expand his facility to keep up with demand.
This business operates solely off of in store sales. The new owner could significantly increase revenue by creating a website, and selling inventory online.
Another opportunity for an owner willing to take on more risk is to increase the loan to value percentage.
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Reason for Selling:
Retiring
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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