MergerPlace

Check Cashing Stores

Texas (Harris)


  • Asking Price: $825,000
  • Gross Income: $725,456
  • Cash Flow: $389,811
  • Real Estate: Not Disclosed
  • Inventory: Not Disclosed
  • FF&E: $18,344
  • Listing ID: #210737
  • Established: 2010
  • Employees: 3 FT / 5 PT

Business Description

This check-cashing business has several years of highly-profitable history, with two locations within the Houston metropolitan area. It will make a great addition to the owner of other money service businesses (MSB) or those looking to take advantage of the opportunity to obtain a business with an existing MSB account and licensing.


Business Details

Primary Business Category: Finance - Depository & Commercial Banking
Location: Texas
County: Harris

Company Information

Year Established: 2010
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 3 FT / 5 PT

Financial Information

Asking Price: $825,000
Gross Revenue: $725,456
Cash Flow: $389,811
FF&E: $18,344
Seller Financing Available: Yes

Property Information

Facilities:

The business consists of two locations, both operating from leased spaces within strip centers (one @ 1,400 sf, other @ 2,500 sf). Combined rents run just under $7,200/month. The spaces are built out with enhanced security features and all of the equipment needed to run the check-cashing business.

Growth & expansion opportunities:

The business is already producing strong revenues with high margins. Additional growth could be achieved through the addition of more locations, or expansion of services. Growth could also be achieved through increased advertising and marketing.

Competition:

The check-cashing business is a high-margin business, though barriers to entry are increasing as Federal regulations for check-cashing and related licenses are becoming more onerous. The purchase of an existing MSB is an excellent way to surpass those hurdles.

Reason for selling:

Owner is selling to focus on other businesses outside of the Houston area.

Support & Training:

Will train for 4 weeks @ $0 cost. The business offers check-cashing services. A money service business (MSB) license is required, along with an associated MSB bank account. Seller can assist a buyer with the licensing and accounts, to the extent buyer qualifies.

Contact Business Seller

This form may be used only to contact the seller of this specific business listing. Please do not use this form for any other purpose.

Business Listed By:

Michael Holloman

Murphy Business Brokers