Franchise currency exchange instructions

business plan

What is a franchise? How does a currency exchange franchise work? And other common questions.

Our company since 2010 is one of the leaders in the market of financial services. We provide a license for currency exchange and pawnshop activities, as well as fully assume all accounting and legal support.

Our partners have only the desire to start working, we take on all other obligations.

Namely, assistance in finding a suitable room, its arrangement in accordance to the requirements of the NBU, as well as recommendations for recruitment.

Payback period

Profit or MARGIN

The work of the exchange office is to buy and sell different types of currencies and their exchange. The difference between buying and selling is called profit or margin. Depending on the settlement, the average margin between buying and selling currency is 30-50 kopecks., based on this, when selling $ 1,000, your income will be from 300 to 500 UAH.

The profit on the wholesale rate is on average 5-10 kopecks. All data from Internet resources where the sale of currency values is offered.

Financial turnover in different settlements

In order to correctly calculate the profitability of YOUR locality, you need to inspect the currency exchange offices in the vicinity and find out the exchange rate difference between buying and selling currency.

For an example of the correct calculation

The daily financial turnover of your exchange office was 10,000 US dollars, no matter what currency was bought or sold (buy / sell)
The average margin was 55 kopecks.

10 000*0.55=5 550 UAH.

That is, for the day you received income in the amount of UAH 5,550

Payback

If the daily income figures of UAH 5,500 are taken into account

Then for 1 month, 30 working days you can get income:

5,500 * 30 = UAH 165,000 (for one calendar month)

The cost is about 30,000 UAH (for one calendar month)

That is, the net profit in these ideal conditions will be 135,000 UAH (for one calendar month)

But given that our market is not perfect, you can really get income in the first month

165 000 UAH / 50% = 82 500

82 500 UAH – 30 000 = 52 500

In this case, the payback period of your stand will be from 3-5 months. Provided (0.55 profit, opening budget up to UAH 90,000, average monthly expenses not more than UAH 30,000)

One-time costs

Name Price
1 Fencing structure 50 thous. ₴.
2 Safe 6 thous. ₴.
3 computer 5 thous. ₴.
4 Money counting machine 4 thous. ₴.
5 Money checking machine 4 thous. ₴.
6 Cash machine 18 thous. ₴.
7 Printer 4 thous. ₴.
8 Signaling 5 thous. ₴.
9 CCTV 8 thous. ₴.

Monthly expenses

Name Price
1 salary 250 UAH / day / 7500 UAH / month
2 Tax UAH 2000 (2 persons)
3 Signaling UAH 400
4 Rentals 4000 UAH
5 Cash register service UAH 240
6 security UAH 2000
7 Additional UAH 1000

Scheme of work

1. You buy currency and sell it to customers who come to you

2. 1-2 months of establishing a customer base will be difficult, because you can buy more currency than sell or vice versa. And that's why our clients constantly have a question where to sell it;

3. You sell the purchased currency to wholesalers with a lower exchange rate very conveniently on the website of the Ministry of Finance https://minfin.com.ua/ You can find them there.

4. Build a customer base and create Viber, votsap, telegram group where you set rates and sell currency with a lower rate for them, this is as an option to deploy business offers.

5. Level up the customer base for buying and selling relative to your region

6. You get pleasure and profit

Conditions for the start

No down payments

Monthly fee of $ 180

Staff: 1-2 people. (depending on work schedule) staffing requirements

Premises (rent, property)

Initial capital from $ 10,000

Requirements for premises

non-housing stock.

housing

part of the room

street booth

separate design

Only one requirement of at least 5 sq m

Necessary equipment

detector: infrared

ultraviolet detector

magnetic detector

detector of increase in currency values

video surveillance cameras

door opening sensor

alarm to the pantry

alarm on the safe

emergency power supply

volumetric alarm sensor

safe passport and certificate for it

construction and certificate for glass

certificate of construction

certificate on the door (if available)

door marking (if available)

tray certificate (if available)

tray marking (if available)

window certificate (if available)

tray marking (if available)

alarm button

Necessary investments

1 fencing construction 50 thous. ₴.
2 Safe 6 thous. ₴.
3 Сomputer 5 thous. ₴.
4 Money counting machine 4 thous. ₴.
5 Money checking machine 4 thous. ₴.
6 Рrinter 4 thous. ₴.
7 Аlarms 5 thous. ₴.
8 Video surveillance 8 thous. ₴.
9 Working capital 250 thous. ₴.

Stages of opening a currency exchange office:

1. Fill in the application form for submission to the National Bank

2. Buy a cash register / flash drive. We buy through a financial company (or cashless mode)

3. The cash register is transferred for registration to the tax office

4. Buy all the necessary equipment and install the armor.

5. Send a scanned copy of the certificates to viber / vocap / telegram

6. Preparation and completion of documents for employees will be sent to the post office or by viber / votsap / telegram Photocopies: All completed pages of the passport - 2 copies

7. All documents from the list are filled in

8. Employment record book: if there is no employment record, the pension fund provides a certificate of the form OK 5. Certified copies of the employment certificate at the main place of work are required part-time.

9. The ENTIRE package of documents sent to the post office is filled in. Attach 2 photos to the documents. After filling in, you take photos of the documents and send them to Viber for verification. After approval, you send the originals to the specified address by New Mail

10. We enter into a lease agreement between the landlord and the company.

11. When the sublease agreement is ready, you will need to contact the security company and enter into a security agreement. This will require statutory documents from the Financial Company. I send the statutory documents to the post office specified by you or in Viber. The security guards sign a contract with the financial company, after which the originals are sent to the company's office for signature.

12. When the branch number is known, you make a stamp.

13. You send the finished security contract to the financial company at your own expense. The

14. Once everything is installed and ready to run the branch