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

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

Margin · multiple · SBA data

46Fair

Avg revenue

$3M/yr

$750K–$10M range

Profit margin

18%

~$540K SDE

Multiple

3–5.2×

of SDE

Est. buy price

$1.6M–$2.8M

startup: $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.

BizBite verdict

Watch / verify

Armored Car Service has enough high-level data for a first look, but BizBite has not assigned a category-specific operating model yet. Treat the score as preliminary.

46Fair

low data confidence · 40/100medium financing fit

Why it may work

No strong positives yet. More verified data needed.

Be careful

!Source link status has not been verified yet
!No last-checked date yet
!No SBA category enrichment yet
!No category operating model yet
!Low data confidence

Deal Calculator

Priced off $540K SDE — can this deal service its own debt?

1.72×

DSCR · Lender-comfortable

Purchase multiple — 4.0× SDE ($2.2M)

Category range: 3×–5.2× SDE

Down payment — 10% ($216K)

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

Interest rate — 10.50%

Typical SBA 7(a) range: 9.5–12% (prime-based)

Loan term — 10 years

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

Purchase price

$2.2M

4.0× of $540K SDE

Cash to close

$281K

$216K down + ~3% closing

Debt service

$26K/mo

$315K/yr on $1.9M loan

Cash-on-cash

80%

cash back in ~15 mo

Debt service coverage · what the lender sees

1.72×+$19K/mo after debt

Most SBA lenders want ≥1.25× coverage; 1.5×+ is a strong file.

SDE = revenue × margin estimate for this niche; it includes owner compensation, so budget your salary out of cash flow. Excludes working-capital injection, capex reserves, and taxes. Actual SBA terms vary by lender and borrower.

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.