Premier Dry Cleaner in rapidly-growing city; 5 Stores / 3 Routes

Charlotte, NC (Mecklenburg County)

Premier Dry Cleaner in rapidly-growing city; 5 Stores / 3 Routes
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Asking Price: $1,750,000

Cash Flow: N/A

Gross Revenue: $2,290,930

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Rent: $9,000 /Month

Established: 1992

Premier Dry Cleaner in rapidly-growing city; 5 Stores / 3 Routes

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Business Description

Well-established Dry Cleaner Serving Growing Affluent Communities

Major dry cleaner serving both residential and corporate clients. Substantial excess capacity at (leased) plant to accommodate growth. Five well-located stores; 3 established routes. In business since 1992. Low employee turnover. Low customer turnover. Significant recent investment in dry cleaning equipment and vehicles. Q1 2019 growth of ~ +8% over 2018. On-line portal for customer payments. No dominant player in expanding market with major law, banking, consulting and office workers, including newly-relocated Fortune 500 corporate HQs.

Owner will consider financing (at market rate) for 3+ years with ~30% in cash down payment.

Additional information available after signing Non-disclosure Agreement (contact Consultant).

Attached Documents


Detailed Information

Location:
Charlotte, NC
Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
11,928
Lease Expiration:
N/A
Employees:
36
Facilities:
5 leased stores (Buyer to assume existing leases). ~12,000 sq ft plant divided into cleaning and executive/admin areas. Lease terms / option to purchase TBD. Substantial storage for inventory. Good employee parking; located in industrial park: easy access/in-out. Bar-coding based production; QuickSort automated assembly. Hydrocarbon machines + laundry + presses and staining stations. All inventory included. Complete asset list available for qualified potential buyers.
Competition:
National and international financial center, with growing white collar employee base (banking, law, accounting, corp HQs, etc). County population increasing ~2+% per year. No dominant dry cleaner in market. No major player in 24x7 lockers. "Sticky" customers.
Growth & Expansion:
Major opportunities for growth. Current owner has not emphasized online presence or social media. Excess plant capacity can accommodate significant growth with only minor capital expenditures.
Financing:
Plant lease price, terms and option to buy ALL to be discussed
Support & Training:
Owner willing to stay on for limited period, to be discussed.
Reason for Selling:
Owner retiring
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Business Listed By:
Jim Phelps (Consultant)

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