Business Overview

Two well established (over 25 years) dry cleaners both located in a busy locations. Seller works part time. Business was down in 2020 due to COVID but is recovering nicely. No soil contamination liability. Lots of equipment in both locations. Handles 7 hotel clients and two hospitals.

Financial

  • Asking Price: $105,000
  • Cash Flow: N/A
  • Gross Revenue: N/A
  • EBITDA: N/A
  • FF&E: N/A
  • Inventory: N/A
  • Inventory Included: N/A
  • Established: 1992

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:1,800
  • Lot Size:N/A
  • Total Number of Employees:3
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

Two locations, one with drive thru. Excellent locations

Is Support & Training Included:

Seller will provide training

Purpose For Selling:

retirement

Pros and Cons:

Prime locations/ Drive thru is a real plus!

Opportunities and Growth:

Hours need to be extended, seller is short on help. Excellent for a family business. Could also include wedding dresses, leather and other items that are currently being sub contracted.

Additional Info

The venture was founded in 1992, making the business 30 years old.

The business has 3 employees and is situated in a building with estimated square footage of 1,800 sq ft.
The real estate is leased by the business for $0.00

Why is the Current Owner Selling The Business?

There are all kinds of reasons people decide to sell companies. Nevertheless, the true reason vs the one they tell you might be 2 completely different things. As an example, they might say "I have way too many various commitments" or "I am retiring". For lots of sellers, these reasons stand. But, for some, these may simply be excuses to try to hide the reality of altering demographics, increased competitors, recent reduction in incomes, or a range of various other reasons. This is why it is very important that you not depend completely on a seller's word, yet instead, utilize the vendor's solution combined with your general due diligence. This will paint a more sensible image of the business's present circumstance.

Existing Debts and Future Obligations

If the current business is in debt, which lots of businesses are, then you will need to consider this when valuating/preparing your offer. Many operating businesses take out loans with the purpose of covering things such as inventory, payroll, accounts payable, and so on. Bear in mind that occasionally this can indicate that profit margins are too tight. Lots of companies fall into a revolving door of taking loans as a way to pay back various other loans. In addition to debts, there may also be future obligations to take into consideration. There might be an outstanding lease on tools or the structure where the business resides. The business may have existing agreements with vendors that must be fulfilled or may lead to charges if canceled early.

Understanding the Customer Base, Competition and Area Demographics

How do companies in the area bring in new customers? Often times, businesses have repeat consumers, which create the core of their daily profits. Certain variables such as new competition sprouting up around the location, roadway building, and also personnel turn over can impact repeat clients and adversely influence future incomes. One essential point to take into consideration is the area of the business. Is it in a highly trafficked shopping mall, or is it concealed from the highway? Obviously, the more people that see the business on a regular basis, the higher the possibility to develop a returning customer base. A final idea is the basic area demographics. Is the business placed in a densely populated city, or is it located on the edge of town? How might the local average family income influence future income potential?