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Cash Advance Business Making A Great Return on Investment
| Asking Price: | $121,000 | Inventory: | |
| Gross Revenue: | $1,055,973 | Real Estate: | n/a |
| Cash Flow: | $96,432 | FF&E: | $3,500 ++ |
| ++ included in the asking price ** not included in the asking price | |||
This business is way under priced for a quick sale. The Seller is firm in his price but willing to hold paper and work with a new Buyer to get it sold. The business is State Regulated and Licensed. An example of how the procedure works to get a payday advance is as follows: A client brings in a check for $500. He must have ID, SS#, a bank statement 60 days old, proof of income, and proof of residence to qualify. He then signs a loan agreement to pay it off in 2 wks. It is a usual routine for the client to come in, pay off the loan, and do it again. The Seller charges 10% ($50 plus a $5 fee) and holds the check for the 2 wks. Seller has a good client base of 80-90 clients who have been doing this for years. Seller to keep his accounts receivables. There is $50,000 in loans out on the street so buyer will need cash to fund the new loan as clients come in. Very successful business. Excellent books. Great business and hours for one per run it and make a good return on their investment.
About the Business
Year Established:1999
Employees:0 full time - 2 part time
Facilities:The facility is 1100 SF, a free standing building, that is brightly painted with great visibility in a high traffic area with ample parking.
Market Outlook and Competition:The Seller does no marketing at all and has had a steady customer base of 80-90 clients over the last ten years. With any kind of advertising would bring in more business.
About the Sale
Management Training and Support:Seller will train for 7 days without compensation but also has part-time help that are well seasoned in the operation.
Reason For Selling:Seller has another business out of state.
Seller Financing:With $65,000 down, Seller will hold $56,000 at 8% interest for 60 months.
KEYWORDS: cash, check cashing, payday advance, profitable, great net, good hours, loan, loans, cash advance, good books, reduced, quick sale, successful, seasoned business
Sell Your Business | This listing has been viewed 112 times
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Current Search
Industry: Financial
Segment: Personal and Auto Lenders Next Listing: Pay Day Loan & Financial Services
Last Viewed: Child Care Center / Expansion possible
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The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. Please review the full Disclaimer here.
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