Dry Cleaning Business - Well Established

Not Disclosed, MD
Baltimore County


Asking Price: Annual Revenue:
$850,000 $670,530

Services: Dry Cleaning & Laundry


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RE: Dry Cleaning Business - Well Established Broker: Justin Sandridge

Quick Facts

Asking Price: $850,000
Annual Revenue: $670,530
Net Profit: Not Disclosed
Cash Flow: $149,857
Total Debt: Not Disclosed
FF&E: $175,000
Real Estate: Not Disclosed
Year Established: 1992
Employees: 14
BBN Listing #: 45254955
Broker Reference #: 2403-16545

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Business Overview:

PRE-COVID 2019 SELLER DISCRETIONARY EARNINGS $255,000
This opportunity is prescreened for financing with a 10% cash down payment.

This is a well-established dry cleaning business located in an affluent area of Baltimore County. They have one main plant and a second drop-off location.

Sales have met or exceeded 2019 monthly numbers since May 2021 and are expected to continue this trend into the fall of 2021. New equipment was installed in August 2021 that will increase production and efficiency.

Several competitors have closed since the COVID shutdown. The reduced competition has boosted sales since restrictions were lifted in early 2021.

This is an excellent opportunity to enter this industry at a fraction of the cost of starting new.

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Property Features and Assets:

One main plant and one drop-off location. Assets = $177,500.

Market Competition and Expansion:

The industry remains highly competitive, localized, and fragmented. Since the onset of COVID-19, two local competitors have gone out of business. As of mid-2021, the company has shown a significant rebound, and now with less competition, business is expected to exceed revenue than prior years. A new operator could expand on the increasing demand for home and office delivery. Also, a new operator could add more convenient pick-up and drop-off locations or deploy the locker model to easily expand their customer base.

Reason for Selling:

Retirement.

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.

Relevant Links:

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