Return to broker profile

Franchise Dry Cleaners

Somerset County, NJ

Seller Financing Available
Franchise Dry Cleaners
Contact Seller

Asking Price: $195,000

Cash Flow: N/A

Gross Revenue: N/A

EBITDA: N/A

FF&E: $350,000

Inventory: N/A

Rent: $5,337.95 /Month

Established: 2016

Franchise Dry Cleaners

Save Print Share Valuation Report

Business Description

Ultra-modern franchise dry cleaning business with a very unique concept, green clean, no toxic chemicals. The projected income for the next twelve months is expected to continue to increase. The equipment is state of the art, is two years young with a recent buildout expense. With this franchise business opportunity, you are in business for yourself, but not by yourself. Their corporate team will be right there working with you to assure your success. In addition, you will be working with other franchisees to compare operational procedures and new strategies along the way. The cleaners offer a full line of services including Dry Cleaning, Shirt Laundry, Wedding Gown Heir looming, Leather and Suede Cleaning and much more. You will also have several additional revenue streams which include express pickup & delivery where you will be able to serve hotels, companies and private Residences. This franchise dry cleaning organization has not only pioneered an innovative dry-cleaning store concept but has gone one step further with the establishment of trend setting quality control and wholesaler liaison positions. This dry-cleaning franchise provides their customers with many advantages, and steady demand. This retail dry cleaning company consist of 8 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 weekly payroll expense is approximately $1,800. The business transaction has an assignable commercial lease which expires 2027-01-01, plus additional options available, with a monthly rent of $5,337.95, all in, cost per square foot is estimated at $29 and rent security of approximately $8,600. The 2019 yearly gross income continues to increase based on an owner operator and prior to any debt service. May 2019 gross income was increased to $25,000 + and May 2019 net income approximately $4,500. The franchise royalty fee is 5%. Also, a formal due diligence is recommended by the purchaser. The business has been substantially reduced as an asset sale and priced at $195,000 which is based on a multiple of the net yearly income and the value of the specific business assets. Also, possible seller financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. Based on the details of sale this appears to be a dependable safe business opportunity. 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:
Somerset County, NJ
Real Estate:
Leased
Building SF:
2,000
Lease Expiration:
N/A
Employees:
8
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
This successful retail facility which consist of approximately 2,000 square feet and has a modern professional appearance. The business is in a mid-size commercial mall with various other active and successful businesses. This opportunity is in Northern New Jersey, Somerset County, which consists of various affluent middle class, highly populated communities with continued demand for this industry.
Competition:
To the best of our knowledge, due to various circumstances, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.
Growth & Expansion:
This dry-cleaning business can be further expanded by the new operator, by improving its local advertising, begin wholesale service, improve its web site which will further develop the net yearly income to the owner operator.
Financing:
May be available to a qualified buyer.
Support & Training:
The owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator. Also, the franchise will provide the required training.
Reason for Selling:
Owner relocating out of the state of New Jersey.
Franchise:
This business is an established franchise
Contact Seller

Contact the Seller

(from currently available funds)
 
Contact Seller Loading

Ron Cervelli

Business Listed By:
Customer Service

Regal Consulting Corp.

Show Phone Number

View My Listings

Listing Statistics

Unlock

Demographic Information

Unlock


Ad#:1679112 Report an issue with this listing

The information in this listing has been provided by the business seller or representative stated above. BizBuySell has no stake in the sale of this business, has not independently verified any of the information about the business, and assumes no responsibility for its accuracy or completeness.
Read BizBuySell's Terms of Use before responding to any ad.


Similar Listings


skinBe Med Spa

Franchise Opportunity
Cash Required: $150,000