Price: $330,000
Location: Union County, New Jersey
Industry: Dry Cleaning
Listing ID: DRCL253
Wonderful opportunity to own a highly profitable modern dry-cleaning businesses in affluent area of Northern New Jersey in the county of Union. This is a well-known family owned and operated modern Dry-Cleaning business. The dry cleaners have been in business since 1977 with a wonderful reputation for quality service and excellent fair prices. The business had a consistent annual gross income and a solid net income. The owner is semi retiring to Florida after many years and will supply a smooth transitional period to the purchaser. The business fixed assets have an estimated value of approximately $110,000 which is specifically based on the original equipment and licensing replacement cost. This transaction consists of a fully equipped commercial dry cleaning and drop office business, which includes, required licenses, web site, social media venues, displays, shelving, POS system, tables, computers, software including all the necessary equipment to maintain the day-to-day business operation and a list of assets will be supplied to purchaser upon request. The 2022 yearly gross income represented by the seller owner is $400,000 and the business has a yearly net income of approximately $95,000 based on an onsite owner operator and prior to any debt service. The 2023 gross income is projected to be $450,000, yearly net $125,000 and formal due diligence is recommended by the purchaser.
Listing Details
Revenue: $425,000
Cash Flow: $130,000
FFE: $110,000
Inventory: $2,500 (Included in Price)
Reason For Sale:
The seller is semi retiring to Florida after many years of success in this industry.
Training & Support:
The seller will remain after closing and supply a long-term transitional period.
Operation
Year Established: 2000
Days & Hours of Operation: The company is active six days weekly with hours from 7:30 am to 6:00 pm.
Owner Hours Per Week: Full Time
Employees: This retail dry cleaning company routinely has four 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 monthly payroll expense is approximately $7,500.
Location
Security on Lease: Two Months
Lease Option: Yes, Available
Monthly Rent: 6,000
Type of Location: Active commercial Mall
Square Footage: 1700
Relocatable?: Yes
Facilities Information:
The facilities consist of 1,700 square feet in an attractive commercial setting with private parking as part of the lease agreement. The plant facility is fully modernized with updated equipment to conduct its services and an attractive walk-up counter for convenient service. This business is located in an upscale area of Union County, New Jersey on an active commercial avenue and county road close to various state highways. The cleaners have an excellent location close to various communities with a continued need for these services.
