Price: $250,000
Location: Union County, New Jersey
Industry: Dry Cleaning
Listing ID: drcl243
Wonderful opportunity to own a highly profitable modern dry-cleaning businesses in affluent area of Northern New Jersey in the county of Union. This has been 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 an annual gross income of $590,000 for 2019 and a net income of $164,000. The owner is semi retiring to Florida after many years and will supply a smooth transitional period to the purchaser.
The 2019 yearly gross income represented by the seller owner is $500,000 and the business has a yearly net income of approximately $164,000 based on an onsite owner operator and prior to any debt service. The 2022 gross income is projected at $400,000, and a formal due diligence is recommended by the purchaser.
Listing Details
Revenue: $400,000
Cash Flow: $100,000
FFE: $170 (Included in Price)
Inventory: $1,000 (Included in Price)
Reason For Sale:
Owner retiring
Training & Support:
The seller will remain after closing and supply a long-term transitional period.
Operation
Year Established: 1990
Days & Hours of Operation: Both dry cleaning companies are operational six days weekly with hours from 7:00 am to 6:00 pm.
Employees: 4
Location
Security on Lease: Two Months
Lease Option: Yes additional options.
Monthly Rent: 6,000
Summary
Owner Qualifications:
For Qualifications purposes, this business opportunity industry does not require government licensing approval to purchase or operate in addition to the standard required municipal licenses.
Competition:
There are no similar dry cleaners in the immediate area and the general area has limited dry cleaner competitors, seller has agreed to supply an appropriate non-compete agreement to the new operator.
Potential Growth:
With a more aggressive marketing plan the business can be further improved and developed representing a high net profit to the owner operator.
Financing/Terms:
To be determined