Keller and Wynn Commercial Partners Gig Harbor
BUSINESS ACTIVITY: This Company is a full service laundry, alteration and Dry Cleaning company located in Vancouver, Washington. The Owner is environmentally conscience and changed in the 2000 fiscal year from using the industry standard perchloroethylene to hydrocarbon solvents in their equipment to insure the highest quality cleaning of all garments including delicate garments such as silk, satin, cashmere, and rayon while protecting the environment. Hydrocarbon solvents are environmentally friendly and do not require any outside agency report or inspections from environmental agencies. The customer can drop off their garments at their convenient location or the customer can start weekly pickup and delivery service. HISTORY: On September 1, 1988 the current owner decided to purchase a dry cleaning facility that had been around for over 45 years and had a great reputation in the market. With then current revenues around $125,000, the Owner believed that there was an opportunity to double the volume. When the Owner and his wife took over the business, the past owner had let the interior deteriorate. There were cobwebs on the ceiling and walls, the interior had not been painted in years and the curtains in the entrance were stained and dingy. This Owner corrected all these deficits within the first 90 days. The store became a showcase for customers to be greeted by the Owner in a shirt and tie to more fully solidify the professional image that the Owners were seeking to convey to the public. Although the Owner is not be at the front counter every day, today, all of the Customer Service and Route employees are dressed in a uniform and have been trained to professionally greet each and every customer. This business has provided well for his family over the last 27 years. Customers perceive value through the policies and procedures that the Owner has established to deliver the best combination of customer service at a fair price to its customers. Through his experienced and dedicated employees the Owner is able to work approximately 10 hours a week. The Owner is proud of what he has accomplished. He has built a strong foundation for a new Owner to take the business to the next level. TERMS: The asking price for this opportunity is $400,000. The transaction has been preapproved by a SBA Preferred lender. The Buyer will need a cash infusion of $60,000, Owner note of $60,000 and Commercial Lending of $280,000 plus SBA fees. The term of the SBA loan is for 10 years at an interest rate of 6.00% with payments of approximately $3,109 per month. The Owner Note shall be payable in the form of a Promissory Note and Security Agreement, subordinated to Buyers’ private lender. The basic terms and conditions of the note shall will be payable in 96 monthly with annualized interest of 6%, with payments starting 24 months after closing. The first 24 months will accrue interest. There will be no pre-payment penalty.
Battle Ground, WA
Price Reduced!! Well Equipped & Maintained Dry Cleaning Store located busy Albertsons Food Shopping Center in Battle Ground, Longtime Established with loyal customers, 2 Pat time Employees, 1,450sq, Long term Lease, Seller Retired, Motivated to Sell, Owner Carry Contract with Down $70,000, Free Training, Lots of Potential to Improve Sales, Make an offer!! Please DO NOT Disturb owners or employees,
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