Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Highly Profitable Dry Cleaners
(Services, Dry Cleaning, Laundromat)
New York County , NY
Listed Price: $ 775,000
Listing ID: DRCL193

Listing DetailsGross Revenue: $ 980,497
Cash Flow: $ 263,975
FFE: $ 170,000 (Included in Price)
Inventory: $ 5,000
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
Non-owner Payroll: $ 15,383
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 2017 gross income of $980,497.33 and a net yearly income of $263,975.40. This sale represents two retail shops in Manhattan and Brooklyn. The shops function strictly as drop off locations and all the cleaning are coordinated and completed off premises, at dry cleaning plants. This method gives the best results, even better than conventional dry cleaning. The clothing doesn’t change shape, shrink or stretch, fabrics keep their color and softness longer when cleaned with K4, without fading, shrinking, pilling, or any residues. In fact, compared to traditional dry cleaning, K4 cleaning can extend the life of the clothing. 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. This company has eight full & part time employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll is approximately $15,383. The businesses have two commercial leases, Manhattan NYC: $7,725.00 monthly rent, Brooklyn: $2,832.50. Each of the businesses have a six-day operation with hours from 7:00 am to 7:00 pm. The 2017 (twelve months) gross income is $980,497.33 and the business has a yearly net income of approximately $263,975.40 based on both locations having a manager at approximately $90,000 yearly. These drop businesses represent a portion of a larger New Jersey based company. Purchaser must include additional expenses for advertising, permits, etc, which we estimate to be approximately $20,000 yearly. 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 dependable return on investment 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:

Available to qualified buyers.