Payday and Title Loan store in central Los Angeles
car and foot traffic and bus stops on the corner. The store is in a corner strip mall that is fully rented. The co tenants are a liquor mart, a donut chain store, a pizza restaurant, a furniture store and the mailbox store. There are 13 parking spaces in the lot for the center that are accessible to customers. Across the street is a major hospital. This store is the only one of it’s kind in the neighborhood, the closest competitors are approximately a mile away. The store is a very professional office with soft lighting, Starbucks type colors, carpeting, live plants and wood furniture, looking more like a real estate or insurance office than a check casher. The total leased space is approximately 2,000 square feet. The office space for the payday loan store is approximately 800 square feet. A sublease is in effect with a mailbox store for approximately 900 square feet plus a portion of the electricity. The payday loan store also rents a desk space to a tax preparer. As of December 31, 2011 the company has provided over 2,200 loans to over 200 customers. The owner wishes the business sale to take place on March 31, 2012 to correspond with the end of the lease term. Prior to then, any potential buyer is welcome to spend as much time in the store as necessary to become comfortable with the business and its customers and to secure the appropriate licenses so as to have a seamless transition with no interruption in business. The owner will share all his business records and files, forms and documents, business relationships, court and collection procedures and will introduce the buyer to all the customers and train in operating procedures. The owner will assist in form preparation, license applications and any other matter necessary to complete the transfer. In addition to the receivables, the business sale will include all assets in the business including two computers, all in one machine, telephone equipment, four security cameras with computer system, two wooden desks including executive desk, file cabinets, indoor metal gate, counters, antique couch, table and four chairs, signage and banner, drinking water machine, refrigerator, microwave oven, coffee maker, plants, pictures, any remaining office and cleaning supplies. This is a turnkey operation where you will be earning positive cash flow and profits from day one with a regular base of customers and be able to focus on increasing the business through advertising and marketing efforts. Our subtenant in the mailbox store is an expert in internet marketing and will be able to assist in that regard. Below is an estimate of monthly income and expense with explanations. Startup costs outside of the purchase price would include $300 each for applications for payday loan and auto loan licenses plus notary and fingerprint costs for the applications and any organizational costs the new owner may incur. Corporations are significantly more costly than sole proprietorships which is why the owner chose not to incorporate, using the insurance policies and surety bonds for any business liability. A security deposit for the landlord equal to one month’s rent will be required. and start with no revenues but will instead have a steady base of customers in a busy location and can focus their efforts on growing the business through advertising. |
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| Serious Inquiries ONLY! CONTACT OWNER |
| Payday and Title Loan Location This location is in the heart of central Los Angeles on one of the most heavily trafficked north/south roads in the city. TURN KEY OPPORTUNITY! |
