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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Dry Cleaners in Commercial Mall
(Services, Dry Cleaning, Laundromat)
Passaic County , NJ
Listed Price: $ 165,000
Listing ID: DRCL192

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

Owner has elected to move into a different business opportunity.


Training & Support:

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


OperationsYear Established: 2009
Days & Hours of Operation: Mon.-Sat.
Non-owner Payroll: $ 3,080
Employees: 5
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 7000
Monthly Rent: $ 3,640
Square Footage: 1000
Facilities:

Please do not disturb business, this sale is absolutely confidential, all viewings are by appointment only and photo may not represent this particular business.


SummaryBusiness Description:

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. Green Earth 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. It cleans as effectively as traditional dry cleaning without costing more to operate. This business presently has 3 part time/ 2 full time employees who are unaware of the pending sale and fully expected to remain post-closing and monthly payroll is approximately $3,080. The sales include an assignable commercial lease which expires 8/31/2020 plus 1 five-year renewal options, with a monthly rent of $3,640 and rent security $7,000, $43.68 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:

May be available to a qualified buyer.