Listing ID: 71393
This dry cleaner is an established and family owned business that has been in operation for over 75 years. It is located in the center of town and has a loyal customer base, which creates lots of repeat business. This turnkey business opportunity is made available as a result of the owner’s desire to retire, which in turn creates a unique opportunity for anyone looking to make a new start. There is no need to reinvent the wheel, you’ll be acquiring a successful business model, with steady customer traffic and cash flow. All you need is the motivation and desire to control your own destiny!
- Asking Price: $399,900
- Cash Flow: $60,000
- Gross Revenue: $259,000
- EBITDA: N/A
- FF&E: $60,000
- Inventory: N/A
- Inventory Included: N/A
- Established: 1946
- Property Owned or Leased:Own
- Property Included:Yes
- Building Square Footage:2,412
- Lot Size:N/A
- Total Number of Employees:2
- Furniture, Fixtures and Equipment:N/A
This business occupies 2400 SF of street level retail space, within a high traffic shopping center. The real estate is included in the sale and the furniture, fixtures and equipment are well maintained and in good condition. This existing FF&E can service all the dry cleaning work in house. The work horse behind this operation is a 2019 Multi-Matic, Multi-Star Hydro Carbon Dry Cleaning Machine.
Available and Negotiable
There is limited competition in this market with only one other dry cleaner servicing this growing trade area.
Potential to expand services including wash, dry, fold and delivery services.
The business was established in 1946, making the business 76 years old.
The company has 2 employees and is located in a building with approx. square footage of 2,412 sq ft.
Why is the Current Owner Selling The Business?
There are all types of reasons why individuals decide to sell businesses. However, the true factor and the one they tell you may be 2 absolutely different things. As an example, they may say "I have a lot of various obligations" or "I am retiring". For numerous sellers, these factors stand. But, for some, these may just be reasons to try to hide the reality of transforming demographics, increased competitors, current decrease in profits, or an array of other factors. This is why it is extremely essential that you not depend absolutely on a seller's word, however instead, make use of the seller's answer in conjunction with your overall due diligence. This will paint an extra realistic image of the business's current circumstance.
Existing Debts and Future Obligations
If the current entity is in debt, which numerous businesses are, then you will certainly have reason to consider this when valuating/preparing your offer. Lots of businesses borrow money so as to cover items such as stock, payroll, accounts payable, and so on. Remember that in some cases this can suggest that earnings margins are too small. Many organisations fall into a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may likewise be future obligations to consider. There may be an outstanding lease on tools or the structure where the business resides. The business might have existing contracts with suppliers that need to be fulfilled or might lead to charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do companies in the location bring in new clients? Often times, operating businesses have repeat consumers, which develop the core of their everyday earnings. Particular factors such as brand-new competitors growing up around the location, road construction, and employee turnover can influence repeat customers and also negatively affect future incomes. One important point to think about is the location of the business. Is it in an extremely trafficked shopping mall, or is it hidden from the highway? Obviously, the more people that see the business regularly, the higher the chance to construct a returning customer base. A final idea is the general location demographics. Is the business situated in a largely inhabited city, or is it situated on the outside border of town? How might the regional median house earnings influence future income prospects?