Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Franchise Dry Cleaners
(Services, Dry Cleaning, Laundromat)
Somerset County , NJ
Listed Price: $ 225,000
Listing ID: DRCL206

Listing DetailsFFE: $ 350,000 (Included in Price)
Franchise Info: This business is an established franchise
Reason for Sale:

The purpose of this business transaction is due to the owner relocation.


Training & Support:

The owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator. Also, the franchise will provide the required training.


OperationsYear Established: 2016
Employees: 8
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 8600
Monthly Rent: $ 2,027
Square Footage: 2000
Facilities:

This successful retail facility which consist of approximately 2,000 square feet and has a modern professional appearance. The business is in a mid-size commercial mall with various other active and successful businesses. This opportunity is in Northern New Jersey, Somerset County, which consists of various affluent middle class, highly populated communities with continued demand for this industry.


SummaryBusiness Description:

Ultra-modern franchise dry cleaning business with a very unique concept, green clean, no toxic chemicals. The projected income for the next twelve months is expected to continue to increase. The equipment is state of the art, is two years young with a recent buildout expense. With this franchise business opportunity, you are in business for yourself, but not by yourself. Their corporate team will be right there working with you to assure your success. In addition, you will be working with other franchisees to compare operational procedures and new strategies along the way. The cleaners offer a full line of services including Dry Cleaning, Shirt Laundry, Wedding Gown Heir looming, Leather and Suede Cleaning and much more. You will also have several additional revenue streams which include express pickup & delivery where you will be able to serve hotels, companies and private Residences. This franchise dry cleaning organization has not only pioneered an innovative dry-cleaning store concept but has gone one step further with the establishment of trend setting quality control and wholesaler liaison positions. This dry-cleaning franchise provides their customers with many advantages, and steady demand. This retail dry cleaning company consist of 8 full / part time employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, the staff is fully expected to remain post-closing, and the weekly payroll expense is approximately $1,800. The business transaction has an assignable commercial lease which expires 2027-01-01, plus additional options available, with a monthly rent of $5,337.95, all in, cost per square foot is estimated at $29 and rent security of approximately $8,600. The 2019 yearly gross income continues to increase based on an onsite owner operator and prior to any debt service. May 2019 gross income was $25,000+ and May 2019 net income approximately $4,500. The franchise royalty fee is 5%. Also, due to the possibility of seller discretionary income, a formal due diligence is recommended by the purchaser. The business has been substantially reduced as an asset sale and priced at $225,000 which is based on a multiple of the net yearly income and 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. Based on the details of sale this appears to be a dependable safe business opportunity. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and the 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. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.


Potential Growth:

This dry-cleaning business can be further expanded by the new operator, by improving its local advertising, begin wholesale service, improve its web site which will further develop the net yearly income to the owner operator.


Financing/Terms:

May be available to a qualified buyer