Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Commercial Dry Cleaners
(Services, Dry Cleaning, Laundromat)
Middlesex County, NJ
Listed Price: $ 295,000
Listing ID: DRCL203

Listing DetailsGross Revenue: $ 405,670
Cash Flow: $ 123,240
FFE: $ 210,000 (Included in Price)
Reason for Sale:

The owner has elected to retire from this industry.


Training & Support:

The owner will remain post-closing for 30 days in order to supply an appropriate transitional period to the new operator.


OperationsDays & Hours of Operation: Mon.-Sat. 7am-7pm
Non-owner Payroll: $ 18,000
Employees: 12
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 10000
Monthly Rent: $ 5,500
Square Footage: 3500
Facilities:


This attractive free-standing retail facility consist of 3,500 square feet with a clean professional appearance. The business is conveniently located on an active county road with various other commercial businesses. This business opportunity is located in central New Jersey, Middlesex County, which consists of various affluent highly populated communities with continued demand for this particular service.


SummaryBusiness Description:

Modern fully equipped and highly profitable commercial dry-cleaning plant with a 2018 gross income of $405,670 and a consistent yearly net income. This attractive retail cleaner is conveniently located and serving various communities in Middlesex County, New Jersey. They pride themselves with providing the best service to their customers and being environmentally responsible to the public they serve. They are fully up-to-date with the required state regulations and offer non-harmful cleaning agents to dry clean their customer garments. They have a full-service dry-cleaning facility with a modern plant on premises and all of the garments get cleaned and pressed on site. They offer professional service including same day service to their customers. The company supplies dry cleaning, laundry wash & fold, wedding dress cleaning and preservation, etc. The company has on average twelve full & part time employees who are unaware of the pending sale and fully expected to remain post-closing, also the monthly payroll is approximately $18,000. The transaction consists of a five-year commercial lease which will expire 2026-01-01, plus additional options, with a monthly rent of $5,500 NN, cost per square foot is $18.85, and rent security $10,000. The business has been valued at $295,000 based on a multiple of the net yearly income including the value of the specific business assets and seller financing has been approved to a qualified buyer with an appropriate down payment, collateral and credit rating. Please do not disturb business, this sale is absolutely 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:


To the best of our knowledge, due to various circumstances, 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 presently has a limited marketing plan, no web site and if improved can further develop the business bottom line net income.


Financing/Terms:

Will be considered to a qualified buyer.