Laundry & Dry Cleaning

MO

Laundry & Dry Cleaning
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Asking Price: $725,000

Cash Flow: $212,111

Gross Revenue: $1,065,393

EBITDA: N/A

FF&E: $340,000

Inventory: N/A

Real Estate: $725,000*

Established: 1999

*not included in asking price.

Laundry & Dry Cleaning

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Business Description

This regional chain provides laundry/dry cleaning services through multiple retail service locations. The Company also provides wholesale laundry/dry cleaning to two service locations not owned or operated by the Company. In addition, the Company has an agreement to supply laundry/dry cleaning services to a large commercial account. Company vehicles pick up laundry from the service locations, deliver it to the dedicated Company-owned plant where the cleaning work is performed after which it is returned to the service locations. It should be noted for environmental concerns that the Company's "dry cleaning" process utilizes organic petroleum-based hydrocarbon cleaning solvents NOT perchloroethelene ("perc" or PCE) solvents which have been shown to be a contaminant.

Detailed Information

Real Estate:
Owned
Not included in asking price
Building SF:
N/A
Employees:
17 FT/12 PT
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The heart and hub of the Company is the centralized plant. The modern 7,700 square foot plant sits on a one acre site in an industrial park. The Company utilizes current technology to quickly and efficiently perform cleaning services for each account. This type of operation allows the Company to achieve economies of scale which provide a distinct competitive advantage in the markets they serve. The owners own the plant Real Estate and one retail service center. These two properties are leased to the Company by the owners and are not included in the sale price. The Company owns one service center and leases four others. The owner anticipates no difficulty in renewing and extending leases at current rates for the occupied leased property. There is approximately $50,000 of the $119,000 allocated to rent expense to cover the purchase price of the $725,000 Real Estate.
Competition:
The Company enjoys a commanding presence in it's largest market, outnumbering competitors three to one. In other locations, the Company is the sole provider of laundry/dry cleaning service. The hub/spoke operation model provides economies of scale reducing per unit cost, thus the Company is the low-cost market leader.
Growth & Expansion:
Since the cleaning plant is not operating at peak capacity there is opportunity for growth by adding new accounts or service locations while utilizing the excess capacity of the existing equipment and labor force. With additional capital expenditures, for example, another dry cleaning machine, plant capacity would be increased significantly. The owners have planned for this type of expansion and have allocated space in the plant for additional equipment. Additional opportunities exist in area communities which are not served or are under-served with regard to laundry/dry cleaning services.
Support & Training:
Will train for 4 weeks @ $0 cost. Some knowledge of laundry/dry cleaning equipment would be helpful but not necessary since maintenance of the equipment can be outsourced.
Reason for Selling:
Owners are ready to retire.
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Scott Belden

Business Listed By:
Scott Belden

Murphy Business & Financial Corporation

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Memberships & Certifications:
Indicates membership in the International Business Brokers Association (IBBA). The IBBA is the only certifying organization for Business Brokers and Intermediaries who assists people in buying or selling a business. Certified Business Intermediary (CBI) is a professional certification awarded to Business Brokers and Intermediaries that have achieved stringent requirements. CBI's work by an ethical code of conduct when working with business owners and buyers.

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