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this retailer opened for business in 2008. The timing of the launch of the business was extremely fortunate as demand for this type of business has increased on the back of the economic slump. The business offers a complete range of services aimed at providing instant access to cash for its clients. Services include cheque cashing for clients without a bank account or who need instant cash from a third party cheque, payday advance where customers can receive cash against a personal cheque, cash for goods, where customers receive cash in exchange for items such as entertainment items, tools, jewellery etc. Buybacks are where goods are exchanged for cash and can be bought back within a certain period of time. The business also offers log book loans on vehicles. All of these services provide the business with excellent opportunities to receive high levels of commission or interest. The business benefits from an ideal high street location, close to major transport links. At present there is little competition in the area. Equipment: the business owns a bespoke software product under licence. This software has been designed specifically for this type of business and makes the day to day management of the business very smooth. It acts as a customer database, but is also used to calculate all commissions etc. Customer service: it is important to maintain good relationships with customers. Many of the clients are regular visitors to the business. The current owner has done an excellent job at building up a good working relationship with many of his clients. Key strengths: very simple. Very high margins, excellent location, regular returning customers, easy to manage growth and expansion: on the retail side, the business gets regular requests to stock everything from mobile phones, to computer games, to personal computers, to fishing equipment. Ecommerce functionality is an obvious add on to a website that the business currently doesn’t perhaps make the most of. The business could also be more proactive in terms of marketing its stock via online channels such as ebay. A currency exchange service, such as western union would also be a sensible path for the business to take.

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