Business Summary:
Included in the transfer of this business are (1) the cash in the bank averaging $25,000 and (2) all loans receivable averaging $85,000, plus all furniture, fixtures and equipment. These stores provide check cashing services, payday loan advances, western union money transfers and other services to individuals in the South Alabama area. It is estimated that check cashing establishments (non-banks) will process over 180 million checks annually at an estimated face value of $55 billion! The market, according to the industry experts, is expected to grow annually by 12% for the next 7 to 10 years. Invest in these stores and enjoy the strong market in the area with 29,000 construction workers now building the huge Tyssen-Krupp steel mill. Construction of the mill will take 4 years. Additionally, the Air Force just awarded Northrup-Grumman a $40 billion contract to build the next generation of air refueling tankers which will be built in Mobile. This will truly be a turnkey operation, as trained employees are already in place and all assets will go to a new owner.
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