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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Dry Cleaners
(Services, Dry Cleaning, Laundromat)
Mercer County , NJ
Listed Price: $ 110,000
Listing ID: DRCL186

Listing DetailsGross Revenue: $ 195,000
Cash Flow: $ 50,000
FFE: $ 70,000 (Included in Price)
Inventory: $ 1,000 (Included in Price)
Reason for Sale:

The owner is retiring after many years of success 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.


OperationsYear Established: 2001
Days & Hours of Operation: Mon.-Sat. 8am-7pm
Non-owner Payroll: $ 3,750
Employees: 2
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 7500
Monthly Rent: $ 4,200
Square Footage: 2100
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.


SummaryBusiness 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. The company fixed assets has an estimated value of approximately $70,000 which is based on the original equipment and licensing buildout & replacement cost in addition to the multiple of the existing net yearly income. 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. 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.


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.


Potential Growth:

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.


Financing/Terms:

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