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: $ 175,000
Listing ID: DRCL202

Listing DetailsGross Revenue: $ 194,789
Cash Flow: $ 73,471
FFE: $ 65,000 (Included in Price)
Reason for Sale:

Owner is relocating to a different industry.


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:

The dry cleaner is in a modern commercial mall, the facility consists of 1,000 square feet, and has a capacity for approximately fifteen customers. The facility has appropriate private mall parking on site as part of the commercial lease.


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. 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 weekly 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 is active six days per week, with hours from 7:30am-7pm, Saturday 8am-4pm. The 2018 yearly gross income represented by the seller owner is $194,789 and the business has a yearly net income of approximately $73,471 based on an onsite owner operator and prior to any debt service. Also, due to a percentage of possible non-disclosed income, a formal due diligence is recommended to the purchaser. 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:

Available to qualified buyers.