Check Cashing Store And Sub Shop For Sale

Business description

THIS IS A CHECK CASHING STORE THAT ALSO SELLS SUB SANDWICHES AND BEVERAGES INCLUDING BEER AND WINE. IT HAS BEEN IN THIS LOCATION FOR ABOUT 5+ YEARS. COMPANY IS PRESENTLY DOING ABOUT $ 5,000,000 A MONTH. SELLER CLAIMS GROSS PROFITS OF APPROXIMATELY 2% A MONTH OR $100,000 A MONTH. WHEN THE CUSTOMERS COME IN TO CASH THEIR CHECKS, MANY SPEND MONEY ON FOOD AND DRINKS. BUYER NEEDS 1 MILLION DOLLARS IN WORKING CAPITAL IN ADDITION TO THE DOWN PAYMENT. SELLER WILL TAKE BACK A MORTGAGE FOR THE BALANCE OF THE SALES PRICE IN THE AMOUNT OF $750,000 @ 8% FOR 10 YEARS OR $9,099.57 A MONTH. THE BANK WILL REQUIRE THE BUYER TO HAVE A GOOD BUSINESS BACKGROUND AND SHOW RESPONSIBILITY. BUYER NEEDS TO GET A FLORIDA CHECK CASHING LICENSE.

Property information

Real Estate:

Real Property Included

Lease terms:

NEGOTIABLE

Other information

Expansion potential:

DEPENDS ON WORKING CAPITAL

Competition / Market:

THIS IS A TERRITORIAL BUSINESS WITH REPEAT CLIENTELE

Support & training:

3 WEEKS AT NO COSTS

Reasons for selling:

MOVING OUT OF STATE

Financing available:

$750,000 @ 8% FOR 10 YRS = $9,099.57 A MONTH

Furniture / Fixtures value:

$110,000 (included in the asking price)

Inventory / Stock value:

$2,500 (included in the asking price)