Listing ID: 81561
This established, well known business continues to show strong profits due to excellent customer service and great location in the heart of busy downtown area.
2021 sales were 40% higher than 2020 . Gradually returning to pre Covid numbers.
Present owners only work at store 3 days a week. Experienced staff cover the balance of hours and will remain on with new owners.
This must see business has it all
• Great Location with front and rear entrances for easy customer access.
• State of the Art, chemical free, Wet Cleaning Equipment
• Loyal Customer Base – serving the Oak Park community for past 30 years
• Attractive interior design with spacious ON SITE cleaning plant.
• In store alterations provides additional revenue
• Key employees willing to stay
Owners are retiring after 40 years in the cleaning business but will provide training and transitional assistance as needed.
For additional information and appointment to visit location contact listing broker
- Asking Price: $137,000
- Cash Flow: $70,000
- Gross Revenue: $167,259
- EBITDA: N/A
- FF&E: N/A
- Inventory: $3,000
- Inventory Included: N/A
- Established: 1990
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:2,000
- Lot Size:N/A
- Total Number of Employees:2
- Furniture, Fixtures and Equipment:N/A
Spacious on site cleaning plant includes all equipment for cleaning, drying, pressing and alterations services. Store has front and rear entrances for easy drop off and pick up.
Owner will provide 2 weeks training and transition
New owner can add delivery servises. Present owners do no local marketing and advertising
The venture was founded in 1990, making the business 32 years old.
The sale doesn't include inventory valued at $3,000*, which ins't included in the asking price.
The company has 2 employees and is located in a building with estimated square footage of 2,000 sq ft.
The property is leased by the company for $3,100 per Month
Why is the Current Owner Selling The Business?
There are all types of reasons people choose to sell operating businesses. Nevertheless, the true factor vs the one they say to you may be 2 absolutely different things. For instance, they may say "I have too many other obligations" or "I am retiring". For numerous sellers, these factors are valid. But also, for some, these might simply be reasons to try to conceal the reality of transforming demographics, increased competition, recent decrease in profits, or a variety of various other factors. This is why it is extremely crucial that you not depend entirely on a seller's word, however rather, use the seller's solution in conjunction with your overall due diligence. This will paint an extra sensible image of the business's current circumstance.
Existing Debts and Future Obligations
If the current business is in debt, which many businesses are, then you will have reason to consider this when valuating/preparing your deal. Numerous businesses take out loans so as to cover items like stock, payroll, accounts payable, so on and so forth. Keep in mind that in some cases this can mean that revenue margins are too tight. Many companies fall into a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may additionally be future commitments to think about. There might be an outstanding lease on equipment or the building where the business resides. The business may have existing agreements with vendors that should be fulfilled or may lead to fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do companies in the area bring in new consumers? Most times, businesses have repeat consumers, which form the core of their day-to-day profits. Specific elements such as brand-new competitors sprouting up around the location, roadway construction, as well as personnel turn over can influence repeat customers and also negatively impact future revenues. One vital thing to consider is the placement of the business. Is it in an extremely trafficked shopping center, or is it concealed from the highway? Certainly, the more individuals that see the business often, the better the chance to build a returning consumer base. A last thought is the basic location demographics. Is the business situated in a largely populated city, or is it situated on the outskirts of town? How might the regional mean home income impact future income potential?