Quote:
Originally posted by Nickatilynx@Jan 25 2005, 10:11 AM
50 k wouldn't get that off the ground would it?
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http://bizbuysell.com/cgi-bin/addetail?q=148220
http://bizbuysell.com/cgi-bin/addetail?q=94356
Note the first one, $30m gross, $250k net. Now, if you're advertising a business, generally you include owner benefit in the net. Doesn't fit the definition of high profit to me -- nor does it come anywhere near a $50k budget.
Second one is $330k, net of $80k -- much much better profit margin.
Check cashing stores are profitable, but require huge amounts of liquid cash. If I were going to do check cashing, I'd buy an armored truck and drive around to large construction sites on payday -- and pay a kickback to the construction companies for letting me on the grounds rather than sitting outside and perhaps even getting them to stagger payroll time slightly to allow me to make the maximum benefit.
But then you have employees.... tens of thousands of cash sitting there.... who can you trust to handle money like that?
I much prefer something where the money comes in electronically and my loss liability is smaller.
Heck, for $50k you can buy a banking license in many carribean locales.