Dry Cleaner in Essex County

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Asking Price:
$85,000

Gross Revenue:
$150,000
Cash Flow:
$65,000
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
 Not Disclosed

FF&E:
$75,000
included in asking price

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Business Description

Exciting business opportunity to own this recently opened new dry-cleaning business in a most affluent community of Essex County, New Jersey. This Dry Cleaners is a blend of innovation and service that's changing the dry-cleaning experience for good. Now is a great time to get in on a ground-floor opportunity with a growing brand. We look forward to hearing from you soon and assisting you in a successful purchase. This dry cleaner has one-part time employee who is unaware of the pending sale, fully expected to remain post-closing, and the monthly payroll cost is approximately $758. The business has an assignable commercial lease which expires 2027-01-01 plus additional options, with a monthly rent of $3,300, cost per square foot is estimated at $28.76 and rent security of approximately $6,000. This successful dry-cleaning business operation is active six days per week, with hours from 7:00 am to 7:00 pm. The 2018 yearly gross income is $150,000 and a yearly net income of approximately $65,000 based on an onsite owner operator and prior to any debt service. The business has been valued at $85,000 based on a projected multiple of the net yearly income including the value of the specific business assets. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent and dependable investment return to the owner operator prior to debt service. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this particular business opportunity.

About the Business

Location:
Essex County, New Jersey
Number of Employees:
1
Real Estate:
Leased
Building Sq. Ft.:
1,335
Rent:
$3,300.00 Per Month
Facilities:
This dry cleaners located in a highly active commercial mall with many other successful retail businesses. The business is on a busy four land county road in an affluent community of Essex County New Jersey. The facility which consist of 1,335 square feet has an ultra-modern professional appearance with an attractive appearance. The business is in a mid-size commercial mall with various other active and successful businesses.
Market Outlook/
Competition:
No competitors presently exist near the facility and to the best of our knowledge, due to various circumstances, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.
Growth & Expansion:
The business is six months new and requires additional time to develop. Also, this is a limited marketing plan, no web site and if improved can further develop the business yearly gross sales.
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About the Sale

Reason For Selling:
The sale is due to the owners’ relocation to an alternative business opportunity
Training/Support:
The owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator.

Listing Info

ID:
1613791
Ad Detail Views:
0

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Business Listed by

Ron Cervelli

Regal Consulting Corp.

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