United Check Cashing Business In Passaic County For Sale

Business description

United Check Cashing Franchise is a pioneer in the check cashing industry. Founded in 1977 they provide a variety of vital financial services for customers who prefer to manage their money on a simple cash basis. This business has a gross income of $290,000 and a yearly net income of $150,000 to the owner operator. This is a clean safe industry with substantial growth potential to a motivated operator. United provides check cashing services, money orders, wire transfer, bill payment, pre paid Master Card, Lotto, Notary Public, Tax Service, and much more. The quality of service they provide is professional with quick service without long lines. The products are reflected in the variety of services they offer, from their modern lobbies to their friendly tellers. United chain consists of over 130 check cashing centers operating in dozens of states across the country. The sale includes various computer systems and terminals, phone system, software system and accounting systems, displays desks and chairs, etc. The facility has a capacity for 24 customers in a 1,200 sq ft commercial setting, on one main floor with no basement. The business has private parking on the site and part of the lease agreement. The business is operational six days per week with hours from 9:00 am to 6:00 pm. The business has a license from the NJ Banking Commission for this service and requires approval and training from the franchise. The sale includes a long term
commercial eight year lease with a yearly rent of $30,300. The business normally requires one part time employee, which presently exists and is expected to remain post closing. The owner has paid for the original franchise fee; purchaser is response for franchise transfer fee and requires approval.

Property information

Real Estate:

Lease

Location:

Located in Northern New Jersey Passaic County, New Jersey on an active county road close to major state highways for quick access. The business has an excellent location near numerous urban communities with substantial businesses which require this service.

Premises details:

The facility is on an active commercial avenue with numerous businesses and consists of 1,200 square feet with private parking as part of the lease agreement. The facility has a clean professional image and specifically designed for this service.

Business Operation

Expansion potential:

With an improved marketing plan to promote additional income this business can be substantially improved repressing a greater profit.

Competition / Market:

No other check cashing businesses are in this particular area, the franchise requires a non compete distance for each franchise and the seller will supply a non compete agreement to the new operator.

Reasons for selling:

Seller is retiring from this industry and going into the medical field.

Employees:

1

Years established:

2000

Other information

Support & training:

The seller will supply a full transitional period and remain sixty days post closing.

Owner financing:

Owner financing is available. Please contact the seller for more information.

Financing available:

Bank financing has been approved for this business.

Furniture / Fixtures value:

$75,000 (included in the asking price)

Inventory / Stock value:

$1,200 (included in the asking price)

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