Opening a money services business (MSB) is serious work—cash handling, compliance, and risk management all have to be dialed in before your doors open. This check cashing & payday loan business plan template is built in lender-friendly language and delivered in fully editable Word & PDF, so you can customize it fast and stay focused on licensing, location, and staffing.

Inside, you’ll spell out check cashing fees, payday advance limits, bill pay and money order services, remittances, prepaid cards, and ATM surcharge revenue. The plan ties everything together with clear KYC/AML workflows, OFAC screening, cash audits, and MSB registration language—so banks, landlords, and regulators can see your risk controls in one place instead of guessing.

You get a complete 3-year forecast aligned to U.S. expectations, plus a structure that mirrors what SBA reviewers look for. BPlanMaker focuses solely on U.S. business plan templates—one-time purchase, no subscriptions—so you buy this plan once and reuse it as you expand or open additional locations.

What’s in this Check Cashing & Payday Loan Business Plan Template?

This template is a complete, lender-ready MSB business plan designed for U.S. check cashing and payday loan storefronts. It covers your services (check cashing, small-dollar advances, bill pay, remittances, money orders, prepaid cards, ATM surcharges), your risk and compliance program (KYC, AML, OFAC, MSB registration), and the day-to-day operations of your teller line and cash vault.

You get a structured Word document plus an integrated 3-year financial forecast. The numbers tie into real-world levers—transactions per day, fee-per-transaction, advance margins, charge-offs, float requirements, rent, payroll, and compliance costs—so lenders can stress-test the plan quickly. Everything is built in standard SBA-style sections, saving you time and hundreds of dollars in consulting fees.

Edit the text for your neighborhood, fee tables, and risk appetite, plug in your vendor stack, and you’ll be ready to talk with banks, landlords, and licensing offices with a professional, credible business plan template that reads like it was written by someone who understands MSBs.

Industry Snapshot: U.S. Check Cashing, Payday Loans & MSBs

Check cashing centers, payday advance shops, and similar storefronts are treated as money services businesses (MSBs) in the U.S. They typically fall under financial service classifications that cover check cashing, payday lending, money transfer, and related activities. As an MSB, you operate under federal Bank Secrecy Act expectations in addition to state-level licensing rules.

That means your plan must do more than say “we cash checks.” Lenders and regulators want to see how you verify identities, monitor transactions, document suspicious activity, secure cash, and train staff. They also look at whether your pricing and product mix are sustainable for your neighborhood instead of built on unrealistic volume or risky advance practices.

This business plan template helps you frame your store as a compliant, well-run MSB with clear controls, reasonable assumptions, and defendable growth targets—so you can earn trust from banks, landlords, and examiners, not red flags.

What’s Inside the Plan

1) Executive Summary

Frames your check cashing & payday loan concept in one clear overview: storefront location, target customers, services, and how you make money. Highlights your startup costs, funding request, and 90-day launch priorities so lenders can skim and understand your plan in minutes. Ties directly into the 36-month forecast to show how traffic, fees, and advances support repayment.

2) Market Overview

Quantifies demand using local cash-preferred demographics, commuting patterns, nearby employers, and existing options like banks, credit unions, and chains such as ACE Cash Express. Explains why your corridor is underserved and how your fee levels, hours, and bilingual service give you an edge. This helps lenders see that your growth is based on real, reachable customers—not wishful thinking.

3) Products & Services

Breaks down each revenue line: check cashing tiers, payday/cash advances, bill pay, money orders, remittances, prepaid cards, and ATM surcharge income. You’ll plug in example fee tables, advance limits, and risk policies, then adjust them to your state rules and risk appetite. Lenders can see clearly how every service contributes to total revenue and where you keep margins healthy without exploiting customers.

4) Operations & Staffing

Maps your day in the life: teller windows, customer check-in, ID verification, transaction approval, cash handling, vault controls, and armored pickups. Shows how many tellers you need per shift, who has vault access, and how you use cameras, dual-control counts, and daily balancing to keep shrink low. Also details training, scheduling, and how you’ll scale staff as volume grows.

5) Marketing & Sales

Outlines a weekly marketing rhythm that fits real MSB life: window and sidewalk signage, Google Maps and reviews, referral cards, bilingual flyers, and partnerships with local employers to capture payday traffic. Includes ideas for tax season and refund checks, plus loyalty-style offers that encourage repeat visits and word-of-mouth—without blowing your compliance budget or overwhelming staff.

6) Management, Compliance & KPIs

Defines your management structure, including owner/operator roles, your BSA/compliance officer, and lead tellers. Spells out how you’ll handle MSB registration, AML program oversight, training cadence, audits, and reporting. You also get a focused set of KPIs—transactions per day, average fee, loss rates, float utilization, and payroll as a percentage of revenue—so you can keep the store on track month after month.

7) Financial Plan & 3-Year Forecast

Connects your traffic assumptions, fee structure, advance margins, and expenses into a lender-readable 36-month model. You’ll see projected revenue, gross profit, operating expenses, net income, and breakeven by month, plus how much opening float and working capital you need. The structure mirrors SBA expectations, making it easier for underwriters to stress-test your numbers and say “yes” when they’re comfortable.

What This Plan Helps You Prove

• That you understand MSB risk, compliance, and cash controls—not just fee tables.
• That your location, traffic assumptions, and pricing can realistically support rent, payroll, and debt service.
• That you have a repeatable marketing rhythm, not one-and-done promotions.
• That you’ve thought through training, audits, and oversight so regulators and bank partners can trust you.

Lender & Landlord Checklist — Covered in This Template

• Clear description of services, target customers, and MSB status.
• Detailed compliance and cash-handling procedures, including KYC/AML basics.
• Realistic startup budget with float, build-out, equipment, and licensing costs.
• Three-year forecast with transparent assumptions and breakeven timeline.
• Plan to maintain security, staffing, and marketing as volume grows.

Frequently Asked Questions