Listing ID: 80531
Highly Profitable & Wonderfully Located Full Service Dry Cleaner
This full service dry cleaner couldn’t be located any better, with a reported 30,900 vehicles driving by daily & surrounded by several high volume shopping centers, and grocery stores, they are in a prime location! Performing alterations, wedding gown fittings and even fixing your shoes, they do it all! Owners have been successful for over 20 years and are looking to happily retire. Looking for an experienced buyer with previous dry cleaning knowledge, or who can staff this location for expansion. Great acquisition for an investor!
**DRIVE-THRU DROP LOCATION ALSO AVAILABLE IN A SEPARATE LISTING**
Established in 1999, this Dry Cleaners has thrived through two recessions, and managed to purchase a second location with a drive thru in 2019. Through years of tailor ship and alteration, The Husband and Wife Owners have mastered their craft and are looking for the next ambitious operator to take ownership of these profitable locations!
Most Other Cleaners in the area do not provide the amount of services this cleaner does. Performing alterations, wedding gown fittings and even fixing your shoes, they do it all! Plus this seller has a Drive Thru location for sale as well making this the perfect acquisition for a experienced investor.
Drop Station, Dedicated Van Pickup service, Marketing, Social Media, Signs Etc.
- Asking Price: $245,000
- Cash Flow: $71,804
- Gross Revenue: $304,393
- EBITDA: N/A
- FF&E: $46,285
- Inventory: $1,587
- Inventory Included: Yes
- Established: 1999
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:1,803
- Lot Size:N/A
- Total Number of Employees:3
- Furniture, Fixtures and Equipment:N/A
The company was established in 1999, making the business 23 years old.
The deal will include inventory valued at $1,587, which is included in the suggested price.
The business has 3 employees and is situated in a building with disclosed square footage of 1,803 sq ft.
The property is leased by the company for $5,409 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons people decide to sell operating businesses. Nonetheless, the genuine factor vs the one they say to you might be 2 entirely different things. As an example, they might say "I have too many other obligations" or "I am retiring". For many sellers, these factors stand. But also, for some, these may just be excuses to try to hide the reality of altering demographics, increased competitors, current decrease in revenues, or a variety of various other reasons. This is why it is extremely important that you not count totally on a vendor's word, but rather, make use of the seller's solution combined with your total due diligence. This will repaint an extra practical image of the business's current situation.
Existing Debts and Future Obligations
If the existing business is in debt, which numerous companies are, then you will have reason to consider this when valuating/preparing your deal. Many businesses borrow money in order to cover points like supplies, payroll, accounts payable, and so on. Keep in mind that sometimes this can suggest that profit margins are too small. Numerous companies fall under a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may additionally be future obligations to think about. There might be an outstanding lease on tools or the building where the business resides. The business may have existing contracts with suppliers that have to be satisfied or may cause charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do companies in the location bring in new consumers? Many times, businesses have repeat clients, which develop the core of their day-to-day profits. Certain elements such as brand-new competition sprouting up around the location, road construction, as well as staff turn over can impact repeat clients and also adversely impact future incomes. One crucial thing to consider is the placement of the business. Is it in an extremely trafficked shopping mall, or is it concealed from the highway? Obviously, the more people that see the business often, the better the chance to construct a returning client base. A final thought is the basic area demographics. Is the business situated in a largely inhabited city, or is it situated on the outside border of town? How might the local mean household income influence future revenue prospects?