Business Overview:
This Company is a third-generation owned dry cleaning and laundry services business in southwest Michigan. Founded in 1921, the Company has grown to three locations and has outlasted area competition!
The Company offers a strong customer base and an online presence, with loyal personnel, many of whom have been with the Company for a decade or more.
Ownership is seeking to sell the Company in order to pursue retirement. He is hoping to find a new owner who can continue his family’s legacy.
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Property Features and Assets:
Three facilities, 8,000 total square feet, available for sale or for lease. Total real estate value: $1,200,000. Real estate is available for purchase. The first facility valuation price is $500,000. The second facility valuation price is $460,000 – rent from other tenants is $39,120 per year. The third facility valuation price is $240,000 – rent from other tenants is $19,200 per year.
If the new ownership did not want to purchase the real estate, the total rent for all three facilities would be $6,700 per month.
Market Competition and Expansion:
Investment Highlights Include:
(1) Strong Reputation in the Community
(2) Pickup & Delivery
(3) Online Presence & Mobile App – upgraded POS system
Growth Opportunities:
(1) Add Delivery Routes
(2) Expand Wash & Fold Laundry
(3) 24-Hour Pickup & Dropoff Lockers
Reason for Selling:
Retirement
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
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