Ultra Modern Dry Cleaning Business
Location New Jersey,United States
Asking Price Range $250K - $500K
Gross Revenues $550000
Net Profit / Cash Flow $150000
Cash Flow Type EBITDA
Seller Finance Yes
Year Established 1990
Number of Employees 6 - 9
Inventory 275000 Equipment & 1500 Inventory
Relocatable No
Number of Employees 6 - 9
Real Estate Leased
Training The seller will remain after closing and supply a long term transitional period.
Reason for Sale Retiring after many years of success in this industry.
Description Ultra modern dry cleaning business is located in a highly active and urban area of Bergen County, New Jersey. Owner is retiring after many successful years in this service industry. This Dry Cleaning business is located in a very active commercial mall with numerous other retail stores that attract a large volume of workers and shoppers. This 2,700 square foot modern facility has recently been updated and has state of the art equipment representing a substantial value. The business consists of a six day operation and offers retail and wholesale services with a gross yearly income of $550,000, and a consistent net income of $150,000. The business offers a substantial growth opportunity by instituting a marketing plan, increasing their wholesale services and expanding with drop store locations. The sale includes all updated equipment required for this particular industry and a list of equipment is available upon request. The business has private parking on the site and is part of the lease agreement. The business is active 6 days weekly (Sunday) hours of operation 7:00 am to 7:00 pm. The business has a municipal Certificate of Occupancy to supply this personal service. The business has an assignable commercial lease which expires 2020-01-01 with a monthly rent of $6,170 and security $10,000. The business has seven experienced employees who are expected to remain post closing and are unaware of the pending sale. This is an excellent opportunity to enter into an ever growing business industry with high earnings. Based on the asking price, required down payment and net income this business should supply a 28% return to the owner operator prior to debt service.
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