How to open a currency exchange
Video: How To Start A Currency Exchange Business - Starting A Business Online 2024, July
Profitable business - change money for money. According to experts, the average currency exchange office generates from $ 2 thousand of net income per month. However, for this business to be profitable, it is necessary to organize it correctly.
You will need
- - agreement with the bank;
- - premises;
- - staff;
- - current assets.
Instruction manual
1
In accordance with the legislation of the Russian Federation, a currency exchange office can be opened exclusively by a credit institution. Therefore, an individual entrepreneur needs to enlist the support of the bank in advance. As a rule, these are medium or small format institutions.
2
Then proceed to the search for premises. It should not be large, just six square meters, but it should be in a public place. It’s good if you can find a room near a hotel, hotel or a large shopping center. Conclude a lease for a long period, as the exchange office will pay off all investments and begin to generate net income only after a year.
3
Equip your room with an armored door and window. There should also be a security, fire alarm and exhaust hood. In addition, you will need a computer with software (usually it is provided by a bank), a safe, a banknote recognition detector, and a banknote counter. A currency exchange office should also be equipped with an information stand for customers.
4
Next, engage in the selection of personnel. You will need two cashiers and two security guards who will work according to the schedule, for example, two in two days. You must fully trust your employees, but still it is better to act on the principle of "trust, but verify." Equip your point with a video surveillance system, periodically arrange test purchases.
5
Exchange offices earn on the difference in exchange rates. Therefore, in order to carry out exchange activities, you will need cash for its sale and purchase. At a minimum, working capital should be between fifteen and twenty thousand dollars. They must be constantly at the point, and they are not collected.
