How much does a Armored Car Service cost to buy?

A typical Armored Car Service sells for 3x to 5.2x seller's discretionary earnings. With estimated SDE of $540K, expect to pay roughly $1.6M to $2.8M before adjustments for assets, debt, growth, and local market quality.

How much does it cost to start a Armored Car Service?

Startup costs range from $250K to $1.5M depending on location, equipment, and scale.

Route

Armored Car Service

Q: What are the profit margins for a Armored Car Service?

The average profit margin for a Armored Car Service is around 18%. Biggest costs are armored vehicles, guards and drivers, insurance, vault facilities, fuel, maintenance, security systems, and compliance controls. Margin expansion depends on route density and contract quality.

Cash pickup on fixed routes, with contracts that feel more like infrastructure than errands

Bottom line

Worth studying, but do not buy without strong local proof.

Armored car services move cash, checks, and valuables between retailers, banks, ATMs, and processing centers. IBISWorld folds the niche into the broader US security services market, which is roughly $49.1 billion in 2025, and armored routes remain one of its most operationally sticky segments. Customers rarely switch providers lightly because reliability, insurance, and chain-of-custody matter more than price.

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Acquisition score

Fair

Avg Revenue

$3.0M

Profit Margin

18%

Acquisition Multiple

3x - 5.2x

Startup Cost

$250K - $1.5M

How It Works

The company runs scheduled pickup and delivery routes for banks, retailers, casinos, and ATM operators. Revenue comes from recurring service contracts, route density, cash logistics, ATM replenishment, and premium same-day or special handling jobs. Retention is high because switching providers involves compliance, insurance, and operational risk.

Revenue Range

Low End

$750K

Typical

$3.0M

High End

$10.0M

Pros

+Recurring route revenue with high customer stickiness
+Mission-critical service where reliability beats lowest price
+Opportunities to bundle ATM cash loading and vault services
+Dense routes improve unit economics over time

Cons

-Heavy security, insurance, and compliance burden
-Vehicle and labor costs are substantial
-Loss events are rare but catastrophic when they happen

Best For

Operators comfortable with regulated logistics, route density economics, and mission-critical B2B service contracts

Operating Costs

Biggest costs are armored vehicles, guards and drivers, insurance, vault facilities, fuel, maintenance, security systems, and compliance controls. Margin expansion depends on route density and contract quality.

SBA Financing Estimator

Adjust the deal — see if it cash flows after debt service

$-78754/mo

after debt service

Deal price — $12.0M

Range: $7.5M (3×) to $18.6M (5.2×+)

Down payment — 15% ($1.8M)

SBA minimum equity injection is 10% for change-of-ownership

Interest rate — 8.00%

Current prime-based SBA rates: 7.5–10.5%

Loan term — 10 years (120 mo)

Standard SBA 7(a): 10 years for business acquisition

Down payment

$1.8M

15% equity injection

Loan amount

$10.2M

85% SBA-financed

Monthly payment

$124K/mo

$4.7M total interest

Monthly profit

$45K/mo

at 18% margin

Monthly cash flow after debt service

$-78754/mo

Margin does not cover debt service at these terms. Lower the deal price, increase the down payment, or extend the loan term.

Estimates only. Excludes owner compensation, capex, working capital draws, and taxes. Margin assumes average occupancy and volume. Actual SBA terms vary by lender and borrower profile.