Cheque Cashing And Loans Company In South Wales For Sale

Business description

The business was started in 2002 when the present owner purchased the franchise. The company offers a cheque cashing service, a pawn broking facility and also retails new, graded and used goods from its retail outlet.

Since its inception the business has built up a solid database of clients who use both the cheque cashing and loan facilities. They also operate a service offering an advance against salaries. In total the company has between five and six thousand users.

The trading policy is to take into stock anything that can be resold from TV’s, household goods and jewellery to car logbooks and recreational items such as bikes and golf clubs.

Equipment:

The director has invested in a computerised stock control system and has an excellent security system.


Key Strengths:

Excellent location
Consistent turnover and regular customer base
Little or no competition
Opportunity to grow


Key Opportunities:

The region is prime for expansion and additional shops in other key local towns would benefit the business

Financial Information:

The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.

The business records a turnover of £150,000 with an additional £500,000 of cheque cashing turnover. Gross profits being circa £105,000. All other financial details will be made available by the vendor.

Property information

Property:

Leasehold

Lease terms:

The annual rental is eighteen thousand pounds.

Location:

The company operates from leasehold highstreet premises that has a reatil show room and trading counter and a stock room to the rear of the premises. There is parking to the rear for three vehicles. The double fronted shop is privately owned. The vendor has a ten year lease of which four years remain. The annual rental is eighteen thousand pounds.

Other information

Competition / Market:

The franchise website Local papers Yellow pages

Support & training:

There will be a full and professional handover for a period to be agreed as part of the overall sales negotiation.

Reasons for selling:

The key director has decided to retire.