Dry Cleaning Business

Rancho Cucamonga, CA (San Bernardino County)

Dry Cleaning Business
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Asking Price: $150,000

Cash Flow: $70,000

Gross Revenue: $135,000

EBITDA: N/A

FF&E: $70,000

Inventory: $5,000

Rent: $2,800 /Month

Established: 1991

Dry Cleaning Business

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Business Description

Up for sale is a beautifully maintained and profitable standalone dry-cleaning business.

It has been operational for 28 years by the same owners and they are now ready to retire. Very easy to manage with currently the owner working full time and one part time employee assisting.

The business has been enjoying year after year profit that has sustained a comfortable living for the owners for years. They do ZERO marketing and rely on word of mouth referrals alone. Talk about easy way to boost sales! Given the owners are close to retirement they have not been aggressive with expansion plans as they are currently comfortable with the work load. However, the business can easily handle 2-3x increase in volume!

Rent is $2800 / month
Utilities are $1000 / month (including gas/water/electric/phone/internet)
Insurance is $200 / month
Supplies is $100 / month
Payroll to 1 employee is $1800/month. (employee can stay or can be let go putting more money into the owner's pocket). Business can easily be run by 2 people.
Overall expenses about $4,000 WITHOUT payroll or $6,000 with payroll
Business currently does between $130,000 to $150,000 of gross sales per year ($10,500-12,500/month)

That means NET INCOME is between $6,500 - 8,500 / month without payroll
That's $ 78,000 - $102,000 salary to owners a year!

All equipment, supplies, inventory is included in the sale. All equipment ($70,000 if bought in as-is condition) is paid off and the business carries ZERO debt.

Therefore, at $150,000 asking price, (minus $70,000 equipment value), you are getting a steal at 0.5x-1x NET sales which is extremely lucrative in the great growing city of Rancho Cucamonga.

Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
1,370
Lease Expiration:
6/30/2019
Employees:
1
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Store is in a plaza with good street visibility and tons of easy parking.
Competition:
Business is located in a busy plaza with national anchor stores with heavy foot traffic. Competition is average but as shown by financials, business is steady
Growth & Expansion:
Multiple options available including adding more corporate accounts, offering pick up and delivery, running social media campaigns and local marketing (NONE is done now).
Financing:
Cash sale only
Support & Training:
Up to 4 weeks during escrow period
Reason for Selling:
Retiring
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Business Listed By:
Steve

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