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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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NYC Dry Cleaners/Absentee Owned
(Services, Dry Cleaning, Laundromat)
New York County , NY
Listed Price: $ 775,000
Listing ID: DRCL189

Listing DetailsGross Revenue: $ 980,000
Cash Flow: $ 343,000
FFE: $ 170,000 (Included in Price)
Inventory: $ 2,500 (Included in Price)
Reason for Sale:

The sale is due to the corporate owner’s alternative business.


Training & Support:

The seller / owner will remain post-closing to supply an appropriate transitional period to the new owner / operator.


OperationsYear Established: 2007
Days & Hours of Operation: Mon.-Sat. 7am-7pm
Employees: 8
Absentee Owner: No
LocationLease Expire: 0000-00-00
Facilities:

The sale consists of two retail stores, Manhattan & Brooklyn, New York. Each facility is in a highly populated urban city with hundreds of thousands of residents. The shops consist of 1,000 and 850 square feet and function strictly as a drop off service location. Each of the facilities consist of a modern attractive retail shop with a walk up counter and rear storage area.


SummaryBusiness Description:

Highly profitable, professional non-toxic state of the art, dry cleaners with a gross income of $980,000 and a net yearly income of $343,000 as an absentee owner. This sale represents two retail shops in Manhattan and Brooklyn. The shops function strictly as drop off locations and all the cleaning is coordinated and completed off premises, at dry cleaning plants. This method gives the best results, even better than conventional dry cleaning. Each store has a service area for free pickup and drop off service, and they service residential buildings anywhere in Manhattan and many locations in Brooklyn. They also offer expert tailor service, whether you need a quick hem, elaborate alteration or a custom designed suit or gown. The lease for each location is, NYC: $7,500 monthly rent, expires in October 2027, security $15,000. Brooklyn: $2,750, Expires July 2022, Security $5,500. The business fixed assets have an estimated value of approximately $170,000 which is based on equipment and licensing replacement cost and the sale consists of a fully equipped commercial retail store. Each of the businesses have a six-day operation with hours from 7:00 am to 7:00 pm. The sale includes all required documentation including a certificate of occupancy from the municipalities and the required state or city licenses to conduct its day to day business. 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 32% investment return to the owner prior to debt service. Name is not included; however, all phone numbers and equipment are included in this sale. 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.


Competition:

Competitors presently exist in the industry 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.


Potential Growth:

The business presently has an appropriate marketing plan, which can be improved to further develop the business yearly gross sales.


Financing/Terms:

Is available to a qualified buyer with an appropriate down payment.