BUSY CHECK CASHING STORE FOR SALE IN THE HEART OF PHILADELPHIA, PENNSYLVANIA.
Well established for decades. Licensed by the State of Pennsylvania Banking Department. Owner is retiring and wants to sell. [A “Baby Boomer…”
Check cashing breakout
- Payroll 60% (average fee 1.5%)
- Government/tax refunds 20% (fee 2%)
- Attorney checks/settlement 10% (fee 2%)
- Commercial check cashing 10% (fee 1.5%) big room to grow here.
- Gross sales: 2018
- Check cashing 12.3 million
- Bill payments 2.7 million
- Wire transfer $925,000
- Money Orders 3.5 million
- Debit cards $106,000
- Store grosses approximately $150,000 per year
- The building is owned by the seller. A long-term lease is available! [The location also has a basement if needed to store the piles of cash you make!]
- Note to my astute readers: “Operation Chokepoint,” MSB licensing and banking not an issue for the buyer.
Services currently offered:
- Check cashing
- Western Union wire transfer
- Western Union money orders
- Bill pay via check free pay
- Nexis prepaid debit
- ATM (lease, they pay per transaction)
Want to explore this “Buy then Build” opportunity? Philly@PaydayLoanUniversity.com