A currency exchange is a business where money in one currency is exchanged into another. A currency exchange is known as a bureau de change in most European countries. It is possible to found your own currency exchange business, but there are many factors to consider when starting one. These include location, funding, accurate exchange information and security. A currency exchange makes its money by calculating exchange rates and transaction related commissions.

Research Starting a Business

Research what you need to start a currency exchange. You will need to know:

1. Ask the Chamber of Commerce for help on county, state and national laws.
2. Contact the IRS for their tax rules on businesses.
3. Research how to set up a credit line: your business will need funding. A credit line requires a bond or deposit of around $50,000 to begin.
4. Contact the U.S. Department of Labor for its rules on hiring, paying and firing employees.
5. Gain additional information from the U.S. Small Business Administration.

Use this information and other research to form your business plan.

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