Retail Dry Cleaners

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Asking Price:
$110,000

Gross Revenue:
$195,000
Cash Flow:
$50,000
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
 Not Disclosed

FF&E:
$70,000
included in asking price

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Business Description

Long standing retail dry cleaners with a gross income of $195,000 and a net yearly income of approximately $50,000 based on an onsite owner operator and prior to any debt service. They care for their customers’ garments as though they were their own. They pride themselves in providing timely, convenient, reliable service of the highest quality while assisting their customers in a courteous, attentive and professional manner. This residential dry cleaner is in a large modern commercial mall in Mercer County, with many other active businesses. This is an owner/operator dry cleaning business opportunity which consist of two 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 monthly payroll expense is approximately $3,750. The business transaction has an assignable commercial lease which expires 08/31/2025, plus additional options available, with a monthly rent of $4,200 all in, cost per square foot is estimated at $24 and rent security of approximately $7,500, moderate yearly rent increases. This successful dry cleaners’ operation is active six days per week, with hours from 8:00 am to 7:00 pm. The business has been valued / priced at $110,000 which is based on a multiple of the net yearly income and includes the value of the specific business assets. Also, possible seller financing can be available to a qualified buyer with an appropriate down payment, collateral and credit rating. This is 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.

About the Business

Location:
Mercer County, New Jersey
Year Established:
2001
Number of Employees:
2
Real Estate:
Leased
Building Sq. Ft.:
2,100
Rent:
$4,200.00 Per Month
Facilities:
The company is in a mid-size commercial mall with various other active and successful retail businesses. This successful retail facility which consist of approximately 2,100 square feet has an attractive professional appearance. This opportunity is in Central New Jersey, Mercer County, which consists of various highly populated communities with continued demand for this personal service.
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:
The business can be further expanded by the new operator by instituting a marketing plan and local advertising, creating a web site and offering delivery service which can further develop the business yearly gross sales.
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About the Sale

Reason For Selling:
Owner is retiring after many successful years in this industry.
Training/Support:
The owner will remain after the closing and is prepared to supply an appropriate transitional period to the new owner / operator. Also, if required the seller may be available to supply additional training, at a fair cost to the purchaser.
Seller Financing:
May be available to a qualified buyer.

Listing Info

ID:
1609766
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 Mercer County, NJ
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Source: Decennial Census (2010), United States Census Bureau.

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.

U.S. Community Survey Data for Mercer County, NJ
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Source: American Community Survey (2010-2014), United States Census Bureau.

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.


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