check cashing, money order, lottery in cell phone store

[newguyforcellphone]

I have cell phone retail store...how about add check cashing, money order business in the store?
how about lottery too?
what do you think about my idea? any pro and cons?

thanks

[Jay2TheRescue]

Originally Posted by newguyforcellphone

I have cell phone retail store...how about add check cashing, money order business in the store?
how about lottery too?
what do you think about my idea? any pro and cons?

thanks

There's a Sprint store near my hime that advertises Western Union. There's always people coming in and out. There's only one problem. If they are getting their paychecks cashed at a check cashing store that means they don't have a bank account. No bank account means no or bad credit. I doubt these people will be buying many phones from you, unless you are selling prepaid.

-Jay

[tmobileman]

Originally Posted by newguyforcellphone

I have cell phone retail store...how about add check cashing, money order business in the store?
how about lottery too?
what do you think about my idea? any pro and cons?

thanks

I think you should sell liquor in your store, and guns, and maybe have some dancing girls in the back room...perhaps a hooka bar...hmmm sporting goods too? oh and don't forget a capuccino bar with a drive up window gotta have the coffee. Good luck I hope you get more traffic in you're store I am sure it is hard to differentiate yourself out their retail is a dog eat dog world.

[colorado1]

Originally Posted by tmobileman

I think you should sell liquor in your store, and guns, and maybe have some dancing girls in the back room...perhaps a hooka bar...hmmm sporting goods too? oh and don't forget a capuccino bar with a drive up window gotta have the coffee. Good luck I hope you get more traffic in you're store I am sure it is hard to differentiate yourself out their retail is a dog eat dog world.

Yeah generally you don't want those scum bags signing contracts. guns lol. just sell some 40's and you'll be fine.

.

[Jay2TheRescue]

Ok everyone, we've had our fun. Lets try to keep this on topic. The OP had a serious question here.

The reality is this: What type of customers are you attempting to draw to your store? Money orders electronic wire services, and check cashing cater to people without bank accounts. Lottery attracts low income people. For the most part these services will attract low income people with poor credit to your store. As I said earlier there is a Sprint/Nextel store near my home that does all of these services. If you are attracting low income people to your store you may very well chase away the customers you currently have, as they may feel uncomfortable shopping in a store that has 3 Hyundai's double parked with booming stereos out front while people run in to cash their checks. I am not making this up. If you go to that Sprint store on a friday evening that is exactly what you will see. If I went to go phone shopping and I saw that I would go to another store. You should be prepared to be able to entirely support your business on these services, as the people you will be attracting will not be able to pass a credit check to get service.

-Jay

[Quint101]

It is possible to sell wireless only without check cashing, lottery, etc. There is a store about 2 miles from my place and they sell mostly prepaid products, along with AllTel, Sprint, and T-Mobile. They sell wireless exclusively and I think that they take bill payments. From the looks of it, they are doing well. Just my 0.02, if the OP wants to add these non wireless services, he may want to look at his business plan because it is bound to change.

[RJB]

Originally Posted by newguyforcellphone

I have cell phone retail store...how about add check cashing, money order business in the store?
how about lottery too?
what do you think about my idea? any pro and cons?

thanks

Well noone can know this better than you. I think if at all possible see in your area if there are places that offer these services then call them up and ask. Just an idea sorry I dont have a better answer.

[Steven R]

The place where I buy my cell phones from, they support visa, paypal, and credit cards.


I think your lottery idea is wonderful! It would encourage them to choose you over your competitors. (hopefully)

[wirelessnation]

It seems like a good idea on one hand, however, the other services may overshadow your cell business altogether. If you decide to do that anyway and would like to sell non prepaid, no credit check/no deposit cell phone plans, let me know. Some plans are n/w start at 7pm; unlimited n/w starting at 9pm, and just plain anytime minutes that avg. .17 cents/min.

[colorado1]

Originally Posted by newguyforcellphone

I have cell phone retail store...how about add check cashing, money order business in the store?
how about lottery too?
what do you think about my idea? any pro and cons?

thanks

So did the guns bring in more traffic? Check cashing?

[dmattson]

It really depends on the area and customers you have. I have agents that do quite well selling these products, especially bill payment (Flint, MI Dollar store processes over $2.5M/yr in payments) but, they're generally near or in urban areas. Like more info on FREE systems?