2 Dry Cleaning Stores NYC. Drop Shop+Retail/Plant. LIMITED COMPETITION

Manhattan, NY (New York County)

Seller Financing Available
2 Dry Cleaning Stores NYC. Drop Shop+Retail/Plant. LIMITED COMPETITION

Asking Price:$700,000

Cash Flow:$304,000

Gross Revenue:$772,000

EBITDA:N/A

FF&E:N/A

Inventory:N/A

Established:1966

2 Dry Cleaning Stores NYC. Drop Shop+Retail/Plant. LIMITED COMPETITION

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Business Description

Great area with lots of young families. Surrounded by high-rise co-ops.
Major new apartment buildings being constructed across the street from the stores.
Owners are tired. have worked in the store as employees first then owners.
New young energetic owners can grow this business.
Introduce online service, expanded pick-up & delivery.
Add green dry cleaning machines and shirt & laundry equipment for high margin.
Sign and send the attached NDA for more information.
briam@elbrokerage.com
T: 917-834-4063
F: 201-568-5401

Attached Documents


Detailed Information

Employees:
6
Facilities:
2 stores. Store 1: Retail drop shop. 1,000 SF with full basement. 10 year lease at $6,825/month including co-op maintenance fee with 5% increases. Store 2: Retail & Plant.. 1300 SF with full basement. 10 year lease at $3,200/month with 5% annual increases. $15,000/year co-op maintenance fee. Real Star 60 LB dry cleaning machine and presses. FREE STEAM provided for boiler. Savings in the 1,000's. Stores are within 10 blocks of each other on the same street.
Competition:
Established over 50 years. Current owners bought the stores from the original owner. Well established and excellent online reviews. Established customer base. The only dry cleaners allowed in these high-rise co-op buildings in the area. Owners do no advertising and promotion. The area is changing with many young professional families moving in. New high-rise complex under construction across the street from both stores. Will have 3,000 apartments.
Growth & Expansion:
Currently the plant sends out shirt laundry wash & fold. Limited pickup and delivery. Only to close by apartments. By doing shirts and wash & fold on premise will increase volume substantially as well as income. Promoting pickup and delivery will increase sales by a major amount..
Financing:
Limited seller financing available to qualified buyer up to 20%
Support & Training:
Owners will transition.
Reason for Selling:
Retiring

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Brian Elkin

Business Listed By:
Brian Elkin

Elkin & Lee Business & Realty Advisors

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