Listing ID: 77238
This plant specializes in dry cleaning, alterations, repairs, and more for their customer’s clothes. They have been here for many years and have a 30 year experienced tailor on site. The company currently serves more than 100 customers per week.
This is an excellent opportunity to acquire a profitable business with the majority of repeat, loyal and referral business. This cleaner has an outstanding reputation on Yelp with many positive reviews.
Upside includes controlling cost, maintaining employees, and target marketing for commercial accounts that would increase cash flow. .Price includes: Dry clean machine (Firbimatic), Pressers, steamer. Commercial laundry, dryer, boiler, and air pressure.
- Asking Price: $70,000
- Cash Flow: $40,678
- Gross Revenue: $120,724
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: Yes
- Established: 2017
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:1,820
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
1,820 sq. ft. leased space
Seller will negotiate a transition period
Other Business Interests
This is in a high traffic location with many businesses. They are the only dry cleaners in the lot with ample parking.
Revenues could be increased by updating the website, utilizing social media and local advertising to attract more customers.
The venture was founded in 2017, making the business 5 years old.
The property is leased by the company for $4,606 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons individuals choose to sell businesses. Nonetheless, the true factor and the one they tell you may be 2 completely different things. As an example, they may state "I have too many various commitments" or "I am retiring". For numerous sellers, these reasons are valid. However, for some, these may just be excuses to try to hide the reality of changing demographics, increased competition, recent decrease in earnings, or an array of other reasons. This is why it is really essential that you not count totally on a vendor's word, however instead, utilize the seller's answer together with your general due diligence. This will paint an extra realistic image of the business's current situation.
Existing Debts and Future Obligations
If the existing company is in debt, which many businesses are, then you will have reason to consider this when valuating/preparing your deal. Lots of businesses finance loans with the purpose of covering points like stock, payroll, accounts payable, etc. Bear in mind that in some cases this can mean that profit margins are too small. Many companies fall under a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may likewise be future commitments to take into consideration. There may be an outstanding lease on tools or the structure where the business resides. The business may have existing contracts with suppliers that should be satisfied or may lead to fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the area draw in brand-new customers? Often times, companies have repeat customers, which form the core of their everyday earnings. Certain aspects such as new competitors sprouting up around the area, roadway construction, as well as staff turn over can affect repeat customers as well as negatively impact future profits. One vital point to think about is the placement of the business. Is it in an extremely trafficked shopping center, or is it concealed from the highway? Obviously, the more people that see the business often, the higher the possibility to build a returning client base. A last idea is the general area demographics. Is the business located in a densely populated city, or is it situated on the outskirts of town? Just how might the neighborhood median household earnings influence future revenue potential?