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Profitable Established Dry Cleaner And Laundry
Location: United States -> California
Industry: Business Services > Laundry




Business Summary

This business is a very well-established, highly-respected, profitable, efficient operation providing laundry and dry cleaning pick up and delivery services to hotels and other institutions, as well as to local retail customers, grossing in excess of $1.7 million, and netting about 29% owner-operator SDE. The plant is completely self-sustained, doing all work on the premises. The business operates seven days a week: 11 hours Monday through Friday, 9.5 hours on Saturday, and 7 hours on Sunday. There is potential for doubling the capacity of the existing plant merely by doubling the hours of operation.

The business generated Seller's Discretionary Earnings (SDE) of approximately $460,000, on gross revenues of $1.6 million in 2014; sales for 2015 are on track to exceed $1.7 million, a more than 6% increase - SDE should approach $500,000 for 2015, for an owner-operator, perhaps more. No customer represents a significant percentage of sales, so the volume is very sustainable.

The transaction will be a transfer of the corporate assets to the buyer, specifically excluding accounts receivable, cash on hand, and security deposits held by others. The price is $1,895,000 (approximately 1.1 times anticipated gross revenue (sales) for 2015, all other tangible assets-furniture, fixtures, and equipment (''FF&E''), all intangible assets, customer records, contractual relationships, web site, phone number, etc.

Note: All data on this business are provided by the Seller for information purposes only, and no representations are made by the Broker as to accuracy. The Broker has made no independent verification of the data contained herein. The Broker represents the Seller and does NOT represent the Buyer. The Buyer is advised to perform independent due diligence and seek the advice of professionals prior to purchasing the Business.


Financials

Asking Price Range:  $1.0M - $2.5M
Gross Revenues:   $1,800,000
Cash Flow:   $2,300,000
Cash Flow Type:  Sellers Discretionary Cash
Seller Financing:  Not Disclosed

About The Business

Year Established:  2015
Number of Employees:  35 - 49
Relocatable:  Not Disclosed
Franchise:  Not Disclosed
Current Real Estate:  Leased

About The Sale

Management Training and Support:  4 weeks




Print Listing Id: 700250700
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Also See: Franchise Opportunities > Franchise Resales > California Businesses For Sale > California Franchises For Sale > California Business Brokers



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