Download PDF
Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
Broker Contact Form
Name

Email

Phone

Comment


Dry Cleaners in Commercial Mall
(Services, Dry Cleaning, Laundromat)
Passaic County , NJ
Listed Price: $ 165,000
Listing ID: DRCL184

Listing DetailsGross Revenue: $ 177,493
Cash Flow: $ 56,873
FFE: $ 65,000 (Included in Price)
Inventory: $ 1,200 (Included in Price)
Reason for Sale:

The owner is purchasing up into a higher volume business opportunity


Training & Support:

The owner will remain post-closing for 30 days and supply a transitional period.


OperationsYear Established: 2002
Days & Hours of Operation: Mon.-Sat. 7:30am-7pm
Non-owner Payroll: $ 2,000
Employees: 3
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 7000
Monthly Rent: $ 3,700
Square Footage: 1100
Facilities:

This highly successful retail facility consists of 1,100 square feet with an ultra-modern appearance. The business is in a mid-size commercial mall with various other active and successful businesses. The business has a private entrance and highly visible signage. This business opportunity is in Northern New Jersey, Passaic County on an active county road conveniently located close to various highways. The general area consists of various affluent communities with continued demand for this highly active personal service.


SummaryBusiness Description:

Eco Friendly highly profitable dry cleaners located in an active commercial mall in an affluent community of Passaic County, NJ. This business opportunity has a consistent gross yearly income and a dependable yearly net income of $56,873. The business consists of an environmentally friendly dry cleaners and the sale includes a fully equipped ultra-modern facility with state-of-the-art equipment. For decades, customers and dry cleaners had no real choice but to clean clothes in harsh, petrochemical solvents with known health and environmental risks. GreenEarth is an environmentally safe dry-cleaning process that replaces petroleum-based solvents with liquid silicone which is a gentle solution made from one of the earth's safest and most abundant natural resources: silica, or sand. GreenEarth was discovered by a scientist working with a solution used in cosmetics who realized it was removing the fats and dirt from his hands without drying them out and he discovered it could do the same for clothes. Silicone has been around for decades and has a wide variety of uses and the process for cleaning was patented and now forms one of several baseline patents for the Green Earth Cleaning system. It cleans as effectively as traditional dry cleaning without costing more to operate. Even more remarkable, it can improve the look and feel of fabrics. This business presently has 3 part time employees who are unaware of the pending sale and fully expected to remain post-closing and monthly payroll is approximately $2,000. The sales include an assignable commercial lease which expires 8/31/2020 plus 1 five-year renewal options, with a monthly rent of $3,700 and rent security $7,000, $40.36 per square foot. The business fixed assets has an estimated value of approximately $65,000 which is specifically based on the original equipment and licensing replacement cost. The business is active six days per week, with hours from 7:30am-7pm, Saturday 8am-4pm. The business has been valued / priced at $165,000 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. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expect to supply a consistent investment return to the owner operator prior to debt service. Please do not disturb business, this sale is absolutely confidential, all viewings are by appointment only and photo may not represent this particular business.


Competition:

To the best of our knowledge no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.


Potential Growth:

The business can be further developed with an improved marketing plan and by a full-time owner at this business.


Financing/Terms:

Can be available to a qualified buyer with an appropriate down payment.