Business For Sale

Dry Cleaners in Commercial Mall

Not Disclosed, NJ
Passaic County


Asking Price: Annual Revenue:
$165,000 $177,493

Services: Dry Cleaning & Laundry


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RE: Dry Cleaners in Commercial Mall Broker: Ron Cervelli
Owner Financing is Available!
Can be available to a qualified buyer with an appropriate down payment.

Quick Facts

Asking Price: $165,000
Annual Revenue: $177,493
Net Profit: Not Disclosed
Cash Flow: $56,873
Total Debt: Not Disclosed
FF&E: $65,000
Real Estate: Not Disclosed
Year Established: 2002
Employees: 3
BBN Listing #: 11893909
Broker Reference #: DRCL184

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Business Overview:

Eco Friendly highly profitable dry cleaners located in an active commercial mall in an affluent community of Passaic County, NJ. This business opportunity has a consistent gross yearly income and a dependable yearly net income of $56,873. The business consists of an environmentally friendly dry cleaners and the sale includes a fully equipped ultra-modern facility with state-of-the-art equipment. For decades, customers and dry cleaners had no real choice but to clean clothes in harsh, petrochemical solvents with known health and environmental risks. GreenEarth is an environmentally safe dry-cleaning process that replaces petroleum-based solvents with liquid silicone which is a gentle solution made from one of the earth's safest and most abundant natural resources: silica, or sand. GreenEarth was discovered by a scientist working with a solution used in cosmetics who realized it was removing the fats and dirt from his hands without drying them out and he discovered it could do the same for clothes. Silicone has been around for decades and has a wide variety of uses and the process for cleaning was patented and now forms one of several baseline patents for the Green Earth Cleaning system. It cleans as effectively as traditional dry cleaning without costing more to operate. Even more remarkable, it can improve the look and feel of fabrics. This business presently has 3 part time employees who are unaware of the pending sale and fully expected to remain post-closing and monthly payroll is approximately $2,000. The sales include an assignable commercial lease which expires 8/31/2020 plus 1 five-year renewal options, with a monthly rent of $3,700 and rent security $7,000, $40.36 per square foot. The business fixed assets has an estimated value of approximately $65,000 which is specifically based on the original equipment and licensing replacement cost. The business is active six days per week, with hours from 7:30am-7pm, Saturday 8am-4pm. The business has been valued / priced at $165,000 which is based on a multiple of the net yearly income and includes the value of the specific business assets. Also, possible seller financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expect to supply a consistent investment return to the owner operator prior to debt service. Please do not disturb business, this sale is absolutely confidential, all viewings are by appointment only and photo may not represent this particular business.

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Property Features and Assets:

This highly successful retail facility consists of 1,100 square feet with an ultra-modern appearance. The business is in a mid-size commercial mall with various other active and successful businesses. The business has a private entrance and highly visible signage. This business opportunity is in Northern New Jersey, Passaic County on an active county road conveniently located close to various highways. The general area consists of various affluent communities with continued demand for this highly active personal service.

Market Competition and Expansion:

To the best of our knowledge no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser. The business can be further developed with an improved marketing plan and by a full-time owner at this business.

Reason for Selling:

The owner is purchasing up into a higher volume business.

Additional Details:

  • The property is leased.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

Documents:

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Disclaimer:

The information has been supplied by the Seller. BBN has not verified any of the information provided in this listing. Any agreement or decision by a buyer to pursue a transaction of this listing should be based on further investigation and due diligence. BBN expressly disclaims any and all liability resulting from the sale of this business. For full disclosure please read BBN's full Legal Disclaimer.


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