Franchise Dry Cleaners

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Asking Price:
$275,000

Gross Revenue:
$410,000
Cash Flow:
$146,500
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
 Not Disclosed

FF&E:
$578,000
included in asking price

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Business Description

Ultra-modern franchise dry cleaning business with a very unique concept, green clean, no toxic chemicals. The projected income for the next twelve months is approximately $410,000, and an expected net yearly income of $146,500, and further increased sales within twenty-four months. The equipment is state of the art, less than two years young with a recent buildout cost of $575,000. With this franchise business opportunity, you are in business for yourself, but not by yourself. Their corporate team will be right there working with you to assure your success. In addition, you will be working with other franchisees to compare operational procedures and new strategies along the way. The cleaners offer a full line of services including Dry Cleaning, Shirt Laundry, Wedding Gown Heir looming, Leather and Suede Cleaning and much more. You will also have several additional revenue streams which include express pickup & delivery where you will be able to serve hotels, companies and private Residences. This franchise dry cleaning organization has not only pioneered an innovative dry-cleaning store concept but has gone one step further with the establishment of trend setting quality control and wholesaler liaison positions. This dry-cleaning franchise provides their customers with many advantages, and steady demand. This retail dry cleaning company consist of 8 full / part time employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, the staff is fully expected to remain post-closing, and the weekly payroll expense is approximately $1,800. The business transaction has an assignable commercial lease which expires 2027-01-01, plus additional options available, with a monthly rent of $5,337.95, all in, cost per square foot is estimated at $29 and rent security of approximately $8,600. This dry-cleaning business is operational seven days per week, with hours from 7:00 am to 7:00 pm Monday-Friday, 8am-5pm Saturday, and 12pm-3am Sunday. The business has been valued / priced at $275,000 which is based on a multiple of the net yearly income and includes the value of the specific business assets. Also, possible seller financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. Based on the details of sale this appears to be a dependable safe business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent return on investment to the owner operator. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and the photo does Not represent this particular business opportunity.

About the Business

Location:
Somerset County, New Jersey
Year Established:
2016
Number of Employees:
8
Franchise:
Yes
Real Estate:
Leased
Building Sq. Ft.:
2,000
Rent:
$5,337.95 Per Month
Facilities:
This successful retail facility which consist of approximately 2,000 square feet and has a modern professional appearance. The business is in a mid-size commercial mall with various other active and successful businesses. This opportunity is in Northern New Jersey, Somerset County, which consists of various affluent middle class, highly populated communities with continued demand for this industry.
Market Outlook/
Competition:
Regarding competition, 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:
This dry-cleaning business can be further expanded by the new operator, by improving its local advertising, begin wholesale service, improve its web site which will further develop the net yearly income to the owner operator.
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About the Sale

Reason For Selling:
Owner is relocating out of the state of New Jersey.
Training/Support:
The owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator. Also, the franchise will provide the required training.
Seller Financing:
Seller financing is available to qualified buyers.

Listing Info

ID:
1613781
Ad Detail Views:
0

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Business Listed by

Ron Cervelli

Regal Consulting Corp.

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U.S. Census Data for Somerset County, NJ
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Source: Decennial Census (2010), United States Census Bureau.

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Source: American Community Survey (2010-2014), United States Census Bureau.

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