Payday Loan Industry Profits

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Subscribe at no cost to you for our Payday Loan Newsletter. The frequency is typically once each month. If you have an interest in the payday loan industry, YOU NEED OUR Payday Loan NEWSLETTER!

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Payday Loan Business Profits

Payday Loan Company Profits

The following statistics represent our best estimates of the typical returns possible for one location:

  • Monthly Volume for 1 store: 575 Checks
  • Average Loan: $300
  • Average Fee %:  15%
  • Average Fee:  $15.00 per $100.00 Advanced
  • Total Monthly Loan Volume:  $146,625.00  ($255 X 575)
  • Total Monthly Fee Volume:  $25,875 ($45 X 575)

(Many operators charge an initial "set-up" fee of $5.00 to $10.00 the first time an applicant receives a payday advance. This could add significant additional profits to your operation.)

These figures are based on our best opinion of existing stores, interviews with members of management of existing stores, statistics garnered from attendance at industry conferences and conventions. YOUR RESULTS MAY BE DIFFERENT!

Are you currently attempting to determine the advisability of starting a new business? Or perhaps your an existing pawnshop or check cashing operator considering the addition of a paycheck advance profit center to your operation? What will your first year sales/earnings be? Guess? Certainly you can look at the demographics of your market area. Evaluate your competition, if any. Visit existing operations in other markets. Read any trade periodicals, if they exist. Get a job in the industry for a while. But bottom line, WE DON'T KNOW WHAT YOU BRING TO THIS GAME!

This is our situation. We do not know what assets you bring to the equation. We all know hard work (luck) and timing can make all the difference in the world. Certainly the timing for the payday loan industry has never been better. It is a product for which clients are clamoring. But what results you will achieve are beyond our control. See our Disclaimer Page

We have certainly heard of locations doing much bigger numbers, particularly in large, metropolitan cities. And of course, a tiny town in the middle of no-where will do less volume. Certainly the Internet offers the possibility of making your actual physical location a moot point. See our "Payday Loan Business Bible" for details.

Our experience is that after the initial "build" period subsides and your location matures, a leveling off somewhere between 285-335 customers at approximately 425-700 payday loan transactions per month is typical. Again, this depends on where you're located and how well you embrace the Internet.

Annual Percentage Rates:
Our experience and research indicates the average payday advance is for a period of 8 days (the next payday for your client). If you were to advance $100 to your client, and the fee in your area is 15%, and you planned to hold your client's check until their next payday in 8 days, you would yield the following APR: $100/.85=$117.65 in fees with an annual return on YOUR MONEY of 805%!

Get Started Now! Invest in our "Payday Loan Business Bible"
How to Start Payday Loan Business

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Trihouse Consulting
601 East Charleston Blvd. #100
Las Vegas, NV. 89104
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