Seller's Contact Information
- RE: Dry Cleaner (Superior Demographics Location)
- Contact: Joseph Hollcraft
Quick Facts
| Asking Price: | $55,000 | |
| Annual Revenue: | Not Disclosed | |
| Net Profit: | Not Disclosed | |
| Cash Flow: | Not Disclosed | |
| Total Debt: | Not Disclosed | |
| FF&E: | Not Disclosed | |
| Real Estate: | Not Disclosed | |
| Year Established: | Not Disclosed | |
| Employees: | Not Disclosed | |
| BBN Listing #: | 164935781 | |
| Broker Reference #: | DCP2023 |
Business Overview:
This business is a dry cleaner located in the high-end, fast-growing neighborhood suburb of Portland, Oregon. Well positioned and resilient, it is one of about three dry cleaners in the area that stayed in business through the pandemic. It provides dry cleaning and laundry services. Before the pandemic, the business also provided tailoring, drop-off shoe repair and drop-off leather cleaning services. These, as well as pick-up and delivery services, are avenues of growth that can be explored.
The business occupies a 1,688 square feet space in a high traffic shopping center. It has been in business since 1998 and is considered an established tenant. Equipment includes a Columbia Dry Cleaning Machine 350/2F; American ADG 24D clothes dryer; Raytheon Appliances UW60 commercial washing machine; four different clothing presses, including pant, sleeve, and collar/cuff presses; and tables and chairs. The P.O.S. system is through a company called Elavon, and the client tracking software is made by Diamond Computer. The front service area was updated significantly in 2021.
The business has not generated a positive cash flow at pre-pandemic levels but is on the right growth trajectory and offers many more opportunities to increase revenue. Prices have been adjusted to inflation and increased cost of supplies, with a further increase planned in January 2023. The well-received customer loyalty program was resurrected in Q4’ 2022. Three main employees work a combined total of 79 hours per week, earning $102,960 annually. Payroll and accounting services are outsourced. Current employees are willing and able to train and have pledged to stay with the business until the summer or 2024 or until they are informed they are no longer needed.
The financial opportunity here is for someone to do all or some of the work themselves and take home the wages and profits.
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Additional Details:
- The property is Leased.
- The owner is willing to train/assist the new owner.
- This is not homebased business opportunity.
- This is not a franchise resale opportunity
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