Check Cashing Stores

[gogo]

An opportunity has opened up in our area to do a third-party deal with DP in a popular chain of check cashing stores. Has anybody had any experience with this type of location?

The locator is asking $1650 for each location with a 5 year renewable contract.

20% commission!

The DP machines have remote monitoring hardware, and the operator has access to the online platform to track sales in real time. As I understand it, there is no charge for this.

This might make sense for me to do if the locations move some volume, but I'm currently only in offices and manufacturing facilities and have no experience with retail locations.

Any feedback would be appreciated.

[Poplady1]

I have some experience with check cashing chains.  We call them bread and butter accounts.  I do not know who DP is could you give me the full name.  I assume it is a vending management company such as Best Vending etc.  Does the $1650 include the location and some type of machine?

I can call a couple of the vendors that I know with these types of accounts.  I am sure they will give me the numbers on them.  I know the last time I found a couple of these spots the vendors I approached with them would not set them up. So we don't call on them.  In Ohio recently they voted to try and close these places down.  The law passed and many are still open operating on some limited authority.  Most of them pulled out.

I would consider doing them if you can put in your own equipment (bottlers loaners) and just pay the management company the 20% based on hotel product pricing.  Cans 1.00 bottles 1.75

Just my two cents.

Blue Moose

[mission vending]

 I do not know who DP is could you give me the full name.  I assume it is a vending management company such as Best Vending etc.  Does the $1650 include the location and some type of machine?

I think DP is Dr. Pepper. My experience with check cashing places is that they can be a home run or a total bomb.