Listing ID: 72491
Profitable Full-Service Dry Cleaner company located in Bronx County, NY. This business specializes in dry cleaning, tailoring, laundry, fittings, and alterations. The location has great exposure in high traffic neighborhood. This Dry Cleaner also offers pick-up and delivery service to residential homes, apartment homes, and condominiums.
The business has a fully complaint dry cleaning and laundry processing plant. It consists of approximately 1300 Sq Ft and set up to handle high volume. Open 6 days week, the business has been owned and family operated since 1998 and benefits from an excellent reputation for high quality work, generating repeat business.
This business is priced to sell with a highly motivated seller. For more information please contact me firstname.lastname@example.org.
• Asking Price: $115,000
• FF&E: $40,000 (Included in the Asking Price)
• Annual Cash Flow: $75,000
• Gross Revenue: $175,000
• Inventory at Cost: $1,800
• Employees: 1FT 1PT
• Monthly Rent: $3,300
• Payroll:$2,500 Per Month
• Down Payment: Negotiable
• Open 6 Days
• Building Size: 1,300 Sq Ft
• Established: 1998
• Reason for Selling: Retirement
- Asking Price: $115,000
- Cash Flow: $75,000
- Gross Revenue: $175,000
- EBITDA: N/A
- FF&E: $40,000
- Inventory: $1,800
- Inventory Included: N/A
- Established: 1998
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:1
- Furniture, Fixtures and Equipment:N/A
the business has a fully complaint dry cleaning and laundry processing plant.
Seller will provide support and training.
Owner is seeking retirement.
There is plenty of room for growth and expansion.
The venture was started in 1998, making the business 24 years old.
The sale won't include inventory valued at $1,800*, which ins't included in the asking price.
Why is the Current Owner Selling The Business?
There are all kinds of reasons people resolve to sell operating businesses. Nevertheless, the real reason vs the one they tell you might be 2 absolutely different things. As an example, they might claim "I have a lot of other commitments" or "I am retiring". For lots of sellers, these factors are valid. But, for some, these may simply be justifications to attempt to conceal the reality of altering demographics, increased competition, recent reduction in profits, or a variety of various other factors. This is why it is really essential that you not depend completely on a seller's word, but rather, utilize the seller's answer together with your overall due diligence. This will repaint a much more practical image of the business's present situation.
Existing Debts and Future Obligations
If the current business is in debt, which numerous companies are, then you will certainly need to consider this when valuating/preparing your offer. Many companies finance loans in order to cover points such as supplies, payroll, accounts payable, and so on. Remember that sometimes this can suggest that earnings margins are too tight. Lots of companies fall into a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may additionally be future commitments to consider. There might be an outstanding lease on equipment or the structure where the business resides. The business might have existing agreements with suppliers that have to be fulfilled or might result in fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do operating businesses in the area draw in brand-new customers? Most times, businesses have repeat customers, which form the core of their day-to-day profits. Certain aspects such as brand-new competition sprouting up around the area, road building, and also employee turnover can affect repeat customers and negatively affect future revenues. One crucial point to think about is the location of the business. Is it in a highly trafficked shopping mall, or is it concealed from the main road? Clearly, the more individuals that see the business on a regular basis, the greater the opportunity to develop a returning consumer base. A final idea is the basic location demographics. Is the business located in a largely inhabited city, or is it located on the edge of town? Exactly how might the local mean home earnings impact future earnings prospects?