FINANCIAL SERVICE CENTER CHECK CASHING
Seller:
Attn:
Tom Wilson
Location:
Colorado Springs, CO, USA
Listing Number:
"HB-0572"
Overview of the Business:
This business has been in operation since 1996 at this location and was purchased by the current out-of-state owners in 2003’. This business operation is in a rapidly growing industry providing customers a service for a fee that includes cashing payroll or government checks, offering “payday loans” or advances for a personal posted-date check, selling Western Union Money Orders and offering wire transfers through Western Union, etc.
Market Competition and Expansion:
Collectively, Check Cashers process over 180 million checks annually, worth over $60 billion, which generates almost $1.5 billion in revenues. This type of business continues to expand due to the increased costs of doing business with banks. This is a service that is always in demand and their inventory never spoils. This store also offers phone cards, bill pay, sends Faxes and serves as Notary Public for customers. Since the Owners are out-of-state, an experienced Manager is in place to operate the business.
Additional Details:
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