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Dry Cleaners
Location: United States -> New Jersey -> Mercer County
Industry: Business Services > Laundry




Business Summary

Long standing retail dry cleaners with a gross income of $195,000 and a net yearly income of approximately $50,000 based on an onsite owner operator and prior to any debt service. They care for their customers' garments as though they were their own. They pride themselves in providing timely, convenient, reliable service of the highest quality while assisting their customers in a courteous, attentive and professional manner. This residential dry cleaner is in a large modern commercial mall in Mercer County, with many other active businesses. This is an owner/operator dry cleaning business opportunity which consist of two 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 $3,750. The business transaction has an assignable commercial lease which expires 08/31/2025, plus additional options available, with a monthly rent of $4,200 all in, cost per square foot is estimated at $24 and rent security of approximately $7,500, moderate yearly rent increases. The company fixed assets has an estimated value of approximately $70,000 which is based on the original equipment and licensing buildout & replacement cost in addition to the multiple of the existing net yearly income. This successful dry cleaners' operation is active six days per week, with hours from 8:00 am to 7:00 pm. The business has been valued / priced at $110,000 which is based on a multiple of the net yearly income and includes the value of the specific business assets. Also, possible seller financing can be available to a qualified buyer with an appropriate down payment, collateral and credit rating. This is a dependable safe business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent return on investment to the owner operator. Please do not disturb business.


Financials

Asking Price Range:  < $250K
Gross Revenues:   $195,000
Cash Flow:   $50,000
Cash Flow Type:  EBITDA
Inventory:  $70,000
Seller Financing:  Yes

About The Business

Year Established:  2001
Number of Employees:  1 - 3
Relocatable:  No
Franchise:  No
Current Real Estate:  Leased
Property:  Property For Lease

About The Sale

Management Training and Support:  The owner will remain after the closing and is prepared to supply an appropriate transitional period to the new owner / operator. Also, if required the seller may be available to supply additional training, at a fair cost to the purchaser.
Reason For Selling:  The owner is retiring after many years of success in this industry.

Photos

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Dry Cleaners Photo 1




Print Listing Id: 700326433
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Also See: Franchise Opportunities > Franchise Resales > New Jersey Businesses For Sale > New Jersey Franchises For Sale > New Jersey Business Brokers



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