Business Overview

EXCELLENT INVESTMENT OPPORTUNITY! Successful for over 18-years, this ABSENTEE OWNER BUSINESS offers Financial Services and Mobile Phone Sales through a single storefront location in Northern Virginia. Currently owned by a CPA, this business started in 2002 offering only check cashing and money orders. Now has over $2,000,000 in bank deposits each month, and provides the owner with $180,000+ per year in pre-tax from commissions earned, fees, and retail sales.

Over the years the business has grown into a multi-faceted service center offering Check Cashing, Money Orders, Western Union Wire Transfers, Bill Payments, Tax Preparation, and Multi-Carrier Wireless Services (AT&T, Direct TV, Boost Mobile, and recently added Cricket Mobile). Serving 80% Hispanic and Minority clients the employee’s offer bilingual communication and all will stay with business after the sale.

All vendor contracts are transferable to qualified new owner.
Seller has been absentee owner since 2009. Nice clean books. SBA READY! Seller will support the prospective buyer for 30 days to allow for a smooth transition. Seller is offering Qualified Buyers a limited amount of owner financing to accommodate commercial or SBA loan. Call Broker for more information.

2021 Sales Estimate): $500,000+
2021 Owner Net: $190,000+
Rent: $1,300
Employees: 4 (part time W2)
HRS Per Week Required by Owner: 10
This business has been profitable each year since 2002 and is well established in the community.
There are other financial and/or mobile service retail stores within a five mile radius but none have the full complement of services offered under one roof.
To expand to a second location and increase online marketing.

Financial

  • Asking Price: $465,000
  • Cash Flow: $179,005
  • Gross Revenue: $487,110
  • EBITDA: N/A
  • FF&E: N/A
  • Inventory: $95,000
  • Inventory Included: N/A
  • Established: 2007

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:1
  • Lot Size:N/A
  • Total Number of Employees:4
  • Furniture, Fixtures and Equipment:N/A
Purpose For Selling:

other interests

Additional Info

The venture was started in 2007, making the business 15 years old.
The sale shall not include inventory valued at $95,000*, which ins't included in the listing price.

The company has 4 employees and resides in a building with approx. square footage of 1 sq ft.
The building is leased by the company for $1,300 per Month

Why is the Current Owner Selling The Business?

There are all kinds of reasons why individuals resolve to sell companies. However, the true factor and the one they say to you might be 2 completely different things. As an example, they may state "I have a lot of various commitments" or "I am retiring". For numerous sellers, these factors are valid. But, for some, these might simply be excuses to attempt to conceal the reality of transforming demographics, increased competition, recent decrease in revenues, or a range of other reasons. This is why it is extremely vital that you not depend absolutely on a vendor's word, yet instead, utilize the vendor's solution combined with your general due diligence. This will repaint a much more realistic picture of the business's present scenario.

Existing Debts and Future Obligations

If the current company is in debt, which numerous companies are, then you will need to consider this when valuating/preparing your deal. Numerous businesses finance loans in order to cover points such as stock, payroll, accounts payable, and so on. Bear in mind that in some cases this can indicate that earnings margins are too thin. Lots of companies come under a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may additionally be future commitments to take into consideration. There might be an outstanding lease on tools or the building where the business resides. The business may have existing contracts with vendors that should be fulfilled or might result in penalties if terminated early.

Understanding the Customer Base, Competition and Area Demographics

How do companies in the location attract brand-new customers? Often times, companies have repeat customers, which create the core of their everyday profits. Particular elements such as brand-new competitors growing up around the area, road building, and staff turnover can affect repeat clients and negatively influence future revenues. One crucial thing to think about is the location of the business. Is it in a very trafficked shopping mall, or is it hidden from the main road? Obviously, the more individuals that see the business regularly, the greater the chance to construct a returning client base. A last thought is the basic area demographics. Is the business placed in a densely inhabited city, or is it located on the edge of town? How might the regional average house income effect future income potential?