How to open an exchanger

A currency exchange is a quick payback type of business. The profit of exchangers is the sum of the difference in exchange rates, which are set by the exchange office itself. With a relatively small initial investment, you can get a good stable income.

Instruction manual

1

Since, by law, only a credit institution can open an exchange office, a private entrepreneur will need to conclude an agreement with the bank. The practice of granting your license to participate in foreign exchange transactions in exchange for a commission exists, as a rule, in small or medium-sized banks. To start working as a partner, an entrepreneur must get a job at the bank as a manager of an exchange office or manager. The Bank, for its part, requires compliance with the regulatory instructions of the Central Bank of the Russian Federation and established reporting. Issues of search and rental of premises, recruitment and purchase of equipment are assigned to the entrepreneur.

2

When choosing a room for an exchange office, keep in mind that the territory with a large number of people will be the best place for it. Evaluate the features of demand existing in the area and the pricing policy of competitors: an overestimated selling rate will mean the presence of increased demand. Currency exchange, as a rule, is popular near hotels, large entertainment and shopping centers. The premises for the exchanger should have an area of ​​at least 6 square meters. It must have armored windows and a door, hood, security and fire alarms. If it was not possible to find a favorably located thoroughly built-in room, you can purchase an armored cabin with external and "turnkey" interior decoration.

3

The minimum set of equipment will consist of a safe, a detector and a banknote counter, as well as a computer for reflecting and controlling foreign exchange transactions.

4

The staff who will work at the exchange office will be registered as bank employees. As a rule, the staff includes two cashiers working in shifts, and a manager, whose functions are usually assumed by the owner of the exchange office. An important problem in this kind of business is a matter of trust. Experts advise the owner to take on the functions of a cashier, because it is very difficult to find people who can be trusted as yourself.

5

The basis of the exchange business is working capital, which is the personal money of the owner, lying in the exchange office and not subject to collection. They should be enough to carry out exchange operations continuously.

6

The Central Bank of the Russian Federation, the tax inspectorate and the Department of Economic Crimes will control the activity of the exchange office. The room must comply with safety requirements, have an alarm button and a fire alarm. All problems arising during the checks are solved by the owner of the exchange office.