Listing ID: 79248
Dry Cleaner Plant providing Laundry Services and Dry Cleaning. Services include dry cleaning, Laundry, Press, wash-dry-fold and alterations. Revenues are primarily Laundry. Both the business and the property are being sold as well as extra adjacent lot. This business is SBA Pre-Qualified. Business Buyer must meet SBA qualifications.
- Asking Price: $390,000
- Cash Flow: $31,894
- Gross Revenue: $140,979
- EBITDA: N/A
- FF&E: $75,000
- Inventory: N/A
- Inventory Included: N/A
- Established: 1999
- Property Owned or Leased:Own
- Property Included:Yes
- Building Square Footage:8,010
- Lot Size:N/A
- Total Number of Employees:2
- Furniture, Fixtures and Equipment:N/A
Seller owns building, 8010 Square Feet - Free Standing Building
4 Weeks at Zero Cost
The business was founded in 1999, making the business 23 years old.
The business has 2 FT, 5 PT employees and is located in a building with approx. square footage of 8,010 sq ft.
Why is the Current Owner Selling The Business?
There are all kinds of reasons why people decide 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 state "I have way too many various obligations" or "I am retiring". For lots of sellers, these reasons are valid. But also, for some, these may just be justifications to attempt to hide the reality of transforming demographics, increased competition, current decrease in earnings, or an array of various other reasons. This is why it is very essential that you not depend totally on a seller's word, yet rather, utilize the seller's response together with your overall due diligence. This will paint an extra sensible picture of the business's existing situation.
Existing Debts and Future Obligations
If the current company is in debt, which many companies are, then you will certainly have reason to consider this when valuating/preparing your offer. Numerous businesses take out loans so as to cover points such as supplies, payroll, accounts payable, so on and so forth. Bear in mind that sometimes this can suggest that profit margins are too thin. Numerous businesses come under 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 commitments to take into consideration. There might be an outstanding lease on equipment or the building where the business resides. The business may have existing contracts with suppliers that need to be satisfied or may lead to fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do companies in the location draw in brand-new clients? Most times, companies have repeat consumers, which form the core of their everyday earnings. Specific factors such as brand-new competitors sprouting up around the location, road building and construction, and also personnel turnover can affect repeat consumers and negatively impact future profits. One essential thing to consider is the area of the business. Is it in an extremely trafficked shopping mall, or is it hidden from the highway? Undoubtedly, the more people that see the business regularly, the better the chance to construct a returning customer base. A final thought is the basic location demographics. Is the business located in a densely populated city, or is it situated on the outside border of town? How might the local mean house earnings impact future earnings prospects?