This is not your average Pawn Shop! This Pawn Shop has been in business for over 40 years in the same location. The Shop is located in a prominent commercial location with high foot traffic. The surrounding area is safe, clean, and growing. Pawn shop locations like this are rare! The Shop sells various merchandise, including but not limited to jewelry, guitars, sound equipment, TV’s, electronics, collectibles, and more. Merchandise is sold both in-store and online. The Shop also writes loans. For 2016, revenue is comprised of approximately 66% retail sales (both in-store and online) and approximately 34% interest income on loans. Inventory is not included in the sale price. Merchandise inventory is approximately $322,000 at cost (both in-store and online), and loan inventory is approximately $330,000 at cost, which the Seller is asking 1.25x or $412,500 for the loan inventory. Buyer has the option to purchase inventory if wanted. The Shop is fully licensed, including possession of the Pawnbroker License form the Department of Justice. The city limits the number of Pawn licenses awarded in the area. At this time, the city is not allowing issuance of any new Pawn licenses. Therefore, the only way to obtain a license in this city is to purchase an already established and licensed pawn shop. Buyer must clear a criminal background check with the FBI in order to qualify for the Pawnbroker license. Buyers with criminal violations need not apply. Additionally, the Shop has very clean and transparent books and records! Inquire Today!
The information contained herein was received from the Seller and is deemed reliable but not guaranteed. First Choice Business Brokers (FCBB), has relied upon the Seller to provide the above details and has NOT verified this information. FCBB is not responsible for and does NOT warrant any statements, projections or any information provided by the Seller. The User/Buyer will be solely responsible for verification of the Seller's profits and business operation. By acceptance of this document, the Buyer/User agrees that all information contained herein is strictly confidential and will not be disclosed to any other party without prior written authorization. The Buyer/User confirms and understands that FCBB has NOT performed an independent investigation of the business or figures quoted herein.
FCBB strongly recommends that a Buyer should seek legal and accounting advice prior to purchasing a Business. Any change to the above information requires both the Seller's and FCBB's written approval. Any change made to this document without FCBB and Seller approval is not valid.