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Two Dry Cleaning Businesses

Union County, NJ

Seller Financing Available
Two Dry Cleaning Businesses
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Asking Price: N/A

Cash Flow: $139,000

Gross Revenue: $610,000

EBITDA: N/A

FF&E: $245,000

Inventory: N/A

Rent: $12,500 /Month

Established: 1995

Two Dry Cleaning Businesses

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Business Description

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 $610,000 for 2018 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. 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 businesses have an existing assignable 10-year commercial leases, expires 2029 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. 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.

Attached Documents


Detailed Information

Location:
Union County, NJ
Real Estate:
Leased
Building SF:
3,100
Lease Expiration:
N/A
Employees:
5
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
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.
Competition:
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.
Growth & Expansion:
With a more aggressive marketing plan the business can be further improved and developed representing a high net profit to the owner operator.
Financing:
Available to a qualified buyer.
Support & Training:
The seller will remain after closing and supply a long-term transitional period.
Reason for Selling:
The seller is semi retiring to Florida after many years.
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(from currently available funds)
 
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Ron Cervelli

Business Listed By:
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Regal Consulting Corp.

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