Price Reduced! Semi-Absentee Dry Cleaner (Prime Location)

Fresno, CA (Fresno County)

Price Reduced! Semi-Absentee Dry Cleaner (Prime Location)
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Asking Price: $295,000

Cash Flow: $100,000

Gross Revenue: $535,000

EBITDA: N/A

FF&E: $115,000

Inventory: $3,000*

Rent: $8,250 /Month

Established: 1991

*not included in asking price.

Price Reduced! Semi-Absentee Dry Cleaner (Prime Location)

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Business Description

For nearly 3 decades this business has enjoyed a longstanding positive reputation for providing environmentally friendly, natural garment cleaning services to its customers.
Unlike conventional dry cleaning facilities who immerse the garment in a basin of toxic, chemical-infused solvents, this business uses a highly unique and completely solvent-free, eco-friendly, wet cleaning process. As opposed to re-using the same petroleum based solvents over and over to clean different customer’s garments, the wet cleaning system applies a far more natural and less harsh method of processing fabrics and clothing. Contrary to solvent-based cleaning, the water-based cleaning method this business employs eliminates shrinkage, leaves no odor, no residue, and no hazardous waste. All of the cleaning solutions used are biodegradable, emit no hazardous waste, and are approved by the EPA. This is a truly environmentally friendly cleaning system from beginning to end.

The business is located in one of the most desirable shopping centers in Fresno, and has been operating out of that space for nearly 30 years. It is anchored by a list of national credit tenants, ranging from those in the grocery, banking, retail, and restaurant industries. Several multi-story office complexes that cater to the professional crowd sit next to the shopping center. Upper middle-class and affluent neighborhoods surround the area with an average annual household income north of $100,000. The business is positioned very favorably to capitalize further on the ideal location that it occupies.

Services currently include: full service wet cleaning of regular and casual garments, household laundry services, pressing, complete alterations with a seamstress on site daily, and complimentary pick-up and delivery services. Daily processing is offered to customers as all garments are cleaned daily on site.

There is over $115k of equipment that currently occupies the space, which is included in the asking price. A delivery vehicle was recently purchased for $13k and is also included in the asking price. All of the equipment is fully paid off and owned free and clear.
Everything is in excellent working condition and no new equipment will be needed to operate the business at any time in the near future. Generally wet cleaning equipment has a utility life of upwards of 20+ years, so no replacement equipment will be essential for many years to come.

The owner’s involvement in operations of the business is limited to 16-20 hours per week. His responsibilities consist primarily of administrative tasks, such as paying bills, ordering and picking up supplies, hiring and replacing employees when needed, meeting with the manager to receive regular updates, and conducting meetings with the employees to gain feedback on enhancing the customer experience. Payroll and bookkeeping is outsourced to 3rd party service providers who handle those tasks specifically. The owner is not front and center of the business, and doesn’t wait on customers, so a change of ownership in the business wouldn’t cause any sort of disturbance amongst the client base.

The current owner has enjoyed the benefits of having a friendly, engaging, and well informed staff. All of the current employees have been with the company for an extended period of time. They are all highly trained as the current owner places a great deal of emphasis on providing a superior customer service experience. They support, value, and are well informed about the Natural Garment Cleaning process and its benefits. The staff is aware of the business sale and are willing to stay on under new ownership to aid in a seamless transition.

Extremely consistent revenues year after year. The books are very clean, and the owner maintains detailed records to substantiate any figures stated on the financials. He is open to having the buyer’s accountant thoroughly inspect all of their financials upon acceptance of an offer. The business could potentially qualify for SBA loan approval should a buyer be seeking additional capital to secure the acquisition.

The seller possesses over 55 years of experience in the garment cleaning industry, having operated a multitude of cleaning businesses throughout the decades. With that extensive repertoire of industry experience, he has accumulated a vast knowledge of best business practices and is happy to now pass on all of that insight to a ready and willing buyer.

This opportunity is ideally suited for either an investor looking to step into a fully turn-key operation that can be run on a semi-absentee basis and doesn’t demand long work days, or an owner-operator seeking to take control of a business with a great foundation already laid out and substantial financial upside.

Detailed Information

Location:
Fresno, CA
Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
1,750
Lease Expiration:
N/A
Employees:
6FT, 3PT
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The facilities are very well kept and true pride of ownership shows throughout the space. The business occupies 1,750 sq ft in a very prominent shopping center.
Competition:
There are no other dry cleaning facilities within a 1 mile radius of the location. Additionally, there is no one else in Fresno, Clovis, or Madera that specializes specifically in the Natural Garment Cleaning market segment. This is truly a unique and specialized method of garment cleaning which offers a huge competitive advantage and sets the company apart from other conventional dry cleaners in the marketplace.
Growth & Expansion:
Tremendous upside opportunity for an industrious new owner willing to implement some fresh ideas into the business. Currently very little marketing is actively being done to drive more customers through the doors. Practically all of the business is generated from a repeat and referral basis. Increasing marketing efforts by leveraging the considerable benefits of natural wet-cleaning practices versus the conventional dry cleaning methods could tap into the ever growing percentage of the population who’s health conscious about what products and services they consume. Additionally, establishing more of a social media and online presence would boost the business’s digital profile. Tapping into online resources like Yelp, Google, and Facebook provides substantial opportunities for further growth. The biggest immediate upside lies in the buyer being a full owner-operator of the business. If the new owner is willing to take a position at the front of house and wait on customers personally, forming personal connections with them, they would likely see a direct benefit from their customer base. Some employment redundancies could be eradicated should that be the case, saving on payroll expenses significantly and increasing the business’s bottom line.
Support & Training:
The seller wants to ensure that the new owner is fully secure in operating the business. 2 weeks of hands on training will be provided, with an additional 2 weeks of consulting support on an as-needed basis. Additionally, a thorough Operations Manual has been assembled by the seller over the course of his ownership, which will be provided to the buyer. It fully outlines all pertinent aspects of operating the business, which includes: explanation of exact services offered, employee policies, pressing criteria and instructions, inspection criteria, job descriptions with matching evaluations and training outlines for each position in the company, and full color graphics for how to handle processing most garments and household items.
Reason for Selling:
Retirement
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Dehlan Group

Business Listed By:
Dehlan Group

Guarantee Real Estate

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