Price: $599,900
Location: Union, New Jersey
Industry: Dry Cleaning
Listing ID: DRCL260
Owner retiring for this wonderful opportunity to own a highly profitable modern dry-cleaning business 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.
Listing Details
Form of Ownership:
C Corp
Operation
Year Established: 1990
Year of Last Acquisition: 1990
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
Non-Owner Payroll: $7,499
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: 14,000
Type of Location: Commercial
Square Footage: 3100
Relocatable?: Yes
Facilities Information:
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.
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 for the owner operator.
Financing/Terms:
To be determined
