Laundry, Dry Cleaning, & Carpet Cleaning Business

Not Disclosed, OH


Asking Price: Annual Revenue:
$6,700,000 $7,123,752

Services: Dry Cleaning & Laundry


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RE: Laundry, Dry Cleaning, & Carpet Cleaning Business Broker: Hal Feder

Quick Facts

Asking Price: $6,700,000
Annual Revenue: $7,123,752
Net Profit: Not Disclosed
Cash Flow: $511,033
Total Debt: Not Disclosed
FF&E: $2,000,000
Real Estate: $2,500,000
Year Established: 1910
Employees: 130
BBN Listing #: 78494955
Broker Reference #: 2008-16792

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Business Overview:

Rare Acquisition Opportunity: Profitable, Established Market Leading Brand Name!

Highly recognized, long tenured, and successful laundry, dry cleaning, and carpet cleaning business is offered for immediate sale by retiring owner. Located in a growing, desirable, and populated metropolitan Midwest market, this operation has a successful multi-decade track record of delivering customer satisfaction to its clients while delivering superb returns to its shareholders.

The business has a proven, long standing success formula which will enable new ownership to generate returns on Day One. Institutionalized processes, convenient customer-driven facilities, diversified service offerings, talented management team, respected brand name, and a highly loyal customer base are just a few of the critical value drivers. Key reasons to acquire:

1) Consistent, profitable growth and exceptional proven financial performance
2) Market leading brand equity which generates significant pricing power above competition
3) Proven customer loyalty with an unequaled, decades-in-the-making database
4) Broad service offerings -- laundry, alterations, dry cleaning, carpet cleaning and more
5) Expansive geographic footprint serves a diverse, populated, and growing marketplace
6) Diversified customer base including commercial, industrial, and residential clients
7) Multi-channel delivery -- 11 in-store retail locations plus free delivery routes (10)
8) Point of Sale system provides timely, centralized management oversight & control
9) Clean books, professional record keeping, & annually CPA-reviewed financial statements
10) Company-owned processing plant, corporate headquarters, and flagship retail real estate

Over the last 4 tax years, annual weighted average business revenues of $8.3M generated a healthy $790,000 in annually weighted average cash flows. The 7.1% adjusted margin is clear evidence of the company's favorable pricing position (and carpet cleaning business mix) when compared to the typical USA dry cleaner according to IBIS World data (5.2% profit margin). The founding guiding principle of the company – Professional Cleaning Expertise and Outstanding Customer Service – has now become an established brand hallmark and sustainable competitive advantage. The new ownership team will also become the benefactor of the already invested, significant capital expenditure in a 29,874 square foot central laundry processing facility (which also houses the flagship retail location and corporate offices), combined with a network of convenient leased locations, the business is well positioned for growth while it continues to leverage its premium margin position in the marketplace.

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Property Features and Assets:

This business has a significant, dominant, and market leading presence within a major Midwest market. The main facility is a company-owned 29,874 square foot laundry processing plant which houses the flagship retail location and corporate offices. The plant is located in a business center (including favorable grand-fathered zoning) which is nestled in a highly, desirable residential district situated close to downtown, prime shopping, and popular eateries. The location offers superb highway accessibility enabling convenient access to the entire metro customer base while supporting the 11 in-store retail locations (which are leased properties). The company-owned building is on a 3/4 acre land parcel. Also included in the offering is a property adjacent to the processing plant real estate which serves as valuable employee parking. Assets = $6,000,000.

Market Competition and Expansion:

The laundry and dry/carpet cleaning industry in this market is characterized by a multitude of smaller, somewhat fragmented players and 6-7 medium sized, multi-store brand names. The offered company is by far and away the clear market leader in all key performance measures -- tenure, brand equity, size, geographic footprint, service menu, financial results, pricing power, and owner loyalty. The race for a distant second place are companies 25-30% the size of the market leader. While the company has diversified its offerings over time, there are both: 1) service line extensions and 2) adjacent market geographic expansion options. The company has strong ownership of "residential and commercial cleaning" branding in this market which opens up expansion options into areas such as maid services, window cleaning, automotive detailing, or power washing, etc. Geographic expansion into large adjacent territories via leveraging of the existing service offerings and present brand equity is also another growth avenue.

Reason for Selling:

Owner Retirement.

Additional Details:

  • The property is owned.
  • The owner is not 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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