Retail Cheque Cashing And Pay Day Advances
Price:
Leasehold - £125,000
Business Type:
Retail businesses, Service Businesses
WORCESTERSHIRE
RETAIL CHEQUE CASHING, PAY DAY ADVANCES, DEBIT CARD LOANS, GOLD PURCHASE AND FOREIGN EXCHANGE AND INTERNATIONAL MONEY TRANSFERS
• Established 13 years
• Turnover £101,000 (Commission)
• EBITDA £36,000 (2010)
• Leasehold £125,000 + Shareholders funds of circa £49,000
• Reference 9982B
BUSINESS SUMMARY
The Company has established an excellent reputation offering a range of financial services, through its retail shop located in Redditch, Worcestershire. These services are provided to a customer base comprised of mainly private individuals, residing within the immediate vicinity.
Our client has enjoyed a successful trading history spanning the last 13 years. During this period, the business has generated significant and consistent profits, through development of a loyal repeat customer base which now numbers over 2,000. Turnover has been relatively consistent throughout the recession and this trend is expected to continue through into 2011. Overall, the business has a positive cash flow and is cash rich.
Over the last 5 years the company has both consolidated its place within the market and extended its reach to new clients. Overall, the demand for retail financial services is stable.
The company would be an ideal purchase for a similarly sized or larger business. A buyer with a good knowledge of the industry and with an acquisitive growth strategy, seeking trading advantage from vertical or horizontal integration, such as a pawn broker, or debt collection business, could be ideal. Such a purchase would give access to a profitable company with an established customer base and product portfolio. The business would certainly appeal to a rival firm seeking additional customers, especially one with a capable management hierarchy in place, experienced in fully maximising the benefits of business integrations.
SCOPE AND POTENTIAL
Existing markets are mature and stable with future demand likely to increase. A constant flow of revenue is anticipated from existing customers based within the town and from a steady flow of new clients.
There are significant opportunities to expand the existing business through vigorous marketing of the client database and additional local advertising. It would also be possible to apply further focus to the existing website, ensuring the possibilities of the worldwide web are maximized. Further transaction volumes could also be obtained through the opening of additional shops within the region, or nationally, offering the possibility of overall cost savings. Introduction of more services would be a distinct possibility, with a debt collection arm likely to prove beneficial.
The business is currently staffed by one full time counter services assistant. It is anticipated that this staff member will retire. Therefore, a buyer (or family) with an active role in the business would benefit from a direct salary saving of around £30,000 annually.
Presently, clearing of cheques is authorised through a sister company and whilst the vendor would be happy to continue providing this service, a buyer with access to alternative facilities could improve margins through reduced commission rates.
FOR FULL DETAILS PLEASE SIGN AND RETURN THE CONFIDENTIALITY AGREEMENT
DISCLAIMER: Viewing is essential to fully appreciate this business and strictly by appointment only through the agents. N/B: All Negotiations must be conducted through Advent Business Sales. These details do not constitute part of an offer or contract and properties are offered subject to being sold, let or withdrawn without notice at any time and without liability for any expenses incurred by applicants. All statements and descriptions are made without responsibility or warranty by us, vendors or lessors. Intending purchasers must check for themselves (Misrepresentation Act 1967).
An Energy Performance Certificate will be made available upon request of further details where one is required for the business premises.
North Yorkshire
£ 750,000
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