Business For Sale

Two Dry Cleaning Businesses

Not Disclosed, NJ
Union County


Asking Price: Annual Revenue:
$495,000 $521,900

Services: Dry Cleaning & Laundry


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RE: Two Dry Cleaning Businesses Broker: Ron Cervelli
Owner Financing is Available!
Seller financing is available to qualified buyer.

Quick Facts

Asking Price: $495,000
Annual Revenue: $521,900
Net Profit: Not Disclosed
Cash Flow: $139,000
Total Debt: Not Disclosed
FF&E: $245,000
Real Estate: Not Disclosed
Year Established: 1977
Employees: 5
BBN Listing #: 99553909
Broker Reference #: DRCL183

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Business Overview:

Wonderful opportunity to own two highly profitable modern dry-cleaning businesses in affluent area of Northern New Jersey in the county of Union. This has been a well-known family owned and operated modern Dry-Cleaning business. The dry cleaners have been in business since 1977 with a wonderful reputation for quality service and excellent fair prices. The business has an annual gross income of $521,900 for 2017, and a net income of $139,000. The owner is semi retiring to Florida after many years and will supply a smooth transitional period to the purchaser. The business fixed assets has an estimated value of approximately $245,000 which is specifically based on the original equipment and licensing replacement cost. Regarding employees and payroll, this retail dry cleaning company routinely has five full / part time employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, the staff is fully expected to remain post-closing, and the monthly payroll expense is approximately $7,500. The both dry cleaning companies are operational six days weekly with hours from 7:00 am to 6:00 pm. The businesses have an existing assignable 10-year commercial leases, expires 2029/01/01 plus additional options, with a monthly rent of $12,500, cost per square foot is estimated at $40.54 and rental security is approximately $24,000. The inventory is included in the sale and the receivables of approximately $15,000 are purchaser responsible to pay fifty percent. Based on the asking price, required down payment and net income this business should supply a wonderful investment return to the owner operator prior to debt service. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and the photo does Not represent this particular business opportunity.

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Property Features and Assets:

The facilities consists of 1,700 & 1,400 square feet in an attractive commercial setting with private parking as part of the lease agreement. The plant facility is fully modernized with updated equipment to conduct it services and an attractive walk up counter for convenient service. The second store consist of an attractive drop location. This business is located in an upscale area of Union County, New Jersey on an active commercial avenue and county road close to various state highways. The cleaners have an excellent location close to various communities with a continued need for these services.

Market Competition and Expansion:

There are no similar dry cleaners in the immediate area and the general area has limited dry cleaner competitors, seller has agreed to supply an appropriate non-compete agreement to the new operator.

Reason for Selling:

The seller is Semi retiring to Florida after many successful years.

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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