The threshold for entering this business is from 20 to 50 thousand dollars. The return on investment in the currency exchange point is approximately - a year and a half.
The income of exchange points is formed due to exchange rate differences. The most popular currency is the dollar, it accounts for almost 75-80% of all transactions, and the euro is more profitable - the largest margin from its sale, but it occupies one fifth of the basket of foreign exchange sales. Other currencies are no more than 1%. To provide the exchange office income at the level of $ 5 thousand per month, a turnover of at least $ 600 thousand can
Income directly depends on turnover, and turnover on location. On average, the cost of organizing a new exchange office is $ 10 thousand, but in the most attractive places they can reach $ 20-30 thousand. This difference in price is formed by the cost of repair and decoration, as well as rent exclusivity fees, which can reach $ 10 thousand .
Monthly expenses are independent of the place — the amount of payments rarely falls outside the range of $ 3-5 thousand. Since income ranges from $ 4 thousand to $ 10 thousand, profitability can vary significantly.
Exchange business: Entering into a business.
Although the main pricing factor when selling a current exchange office is the size of its income, in most cases buying and opening a new one are approximately the same. Where to open inexpensively, and income is small. And where high profits are expected, you just can’t open it. If there is no suitable place in mind, then it is better to immediately consider purchase options.
The closest competitor to exchange offices is operating cash desks. It is on this format that banks rely on opening new points. When evaluating the exchange office, it is necessary to take into account whether the demand at the location and design allows it to be converted into an operating cash desk. In this case, the additional costs will not exceed $ 2-5 thousand, while the profit on servicing money transfers, accepting payments and replenishing accounts can increase by $ 2-3 thousand per month.
Another potential competitor to exchange offices is currency exchange machines. Their number is growing and in a few years they can significantly affect the cash exchange market.
According to experts, in order to operate effectively in this business, it is advisable to own a network of exchange points that will allow conversion from third-party organizations.
Exchange business: Legal subtleties
The main threat to business at exchange offices is not inside the market, but outside it, most of the risks are concentrated in the legislative field - officially they do not exist in Russia.
The owner of the exchange office is not entitled to conduct foreign exchange activities, as this requires a license. Therefore, the cashier at any exchange office has a special education and is not an employee of the business owner, but a credit institution, such as a bank. All operations are carried out under its jurisdiction, for which the bank receives a certain income. In order for the investor to have an official right to take part in the activities of the exchange office, he can also be registered as a manager.
The relationship between the owner of the exchanger and the bank is organized in different ways. For example, a bank takes premises and equipment for sublease, which allows you to obtain a certificate for a point and register it with the Central Bank. In turn, the owner of the exchange office pays the bank, for example, “monthly cash desk services (collection, recounting and
cash packing, software maintenance) ”and can be $ 650-800 for an exchanger and $ 750-900 for operating a cash desk. The bank forms the reporting point, makes the minimum necessary tax payments, etc. In case of violations by the owner of the exchange office, the bank closes it, notifying the Central Bank. In turn, if a credit institution has problems, for example, revoking a license, the owner of the exchanger may contact another bank.
A ready-made exchanger is usually sold with established business connections, and the seller recommends keeping them. In fact, this may mean the purchase of property that makes up the exchange office itself and the conclusion of an agreement between the bank and the new owner. This situation in this area leads to the fact that personal relationships begin to cost more than documents.
The risk that may arise as a result of inspections of the OBEP and the Central Bank can be reduced. If the exchange office works honestly (declaring the exact exchange rate, avoiding fraud) and does not cause complaints from the OBEP, the risk of complicating relations with the bank is minimal.
But pure business management - reflecting all exchange transactions in the statements, recording and synchronizing with the bank each change in the exchange rate, etc., will lead to additional costs of 5% plus taxes on the shown profit.
But despite all the risks and legal unregulatedness, such an opaque type of business continues to be in demand among small investors. This is primarily due to s
the very specifics of the business. The owner receives certain guarantees, if only because half, or even more, of the invested funds is in the most liquid form - in cash. So you can get them on the same day when a decision is made to terminate operations.
COSTS NECESSARY FOR THE BEGINNING OF THE EXCHANGE ITEM, $ thousand
Equipment for a secure room in accordance with GOST 3, 5-4
Finishing, if the item is located in a shopping center, etc. 2-3
Payment to the lessor for an exclusive location in the shopping center, etc. up to 10
Equipment with necessary equipment: cash desk, computer, detector, counter from 1
Rent for the so-called first and last months + for installation time of 2
Connection of security (PSC) and fire alarm 0.4-0.5
Working capital, depending on the volume of operations 10-100
With different options, investments in the opening can be:
For a regular exchange office 20-30
For an exchange office with increased turnover 50-55
For a wholesale exchange office 50-125
MONTHLY COSTS, $ THOUSAND.
Lease payments (for single OP less than 10 m2) 1-3
The so-called monthly payments to the bank for the maintenance of the cash register 0.7-0.8
Personnel costs (depending on the number of shifts)
0.8-1
Signaling:
- if chop 0.15
- if VOHR from 0.35
Total per month from 3000
According to the materials of the site www.createbusiness.ru
* The article is more than 8 years old. May contain outdated data