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AWARD WINNING DRY CLEANER-PRE APPROVED FINANCING
(Cleaning/Laundry Related)
- Texas
| Seller Financing: |
Yes |
| Lender Pre-Qualified: |
Yes |
| Listing ID: |
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| Office ID: |
SA060111DJS |
| Status: |
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Listing Details
| Listed Price: |
$2,183,089 |
| Down Payment: |
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| Total Sales: |
$1,563,000 |
| SDE: |
$356,659 |
| EBIT: |
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| EBITDA: |
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| FFE: |
$350,000 |
Included? Yes |
| Real Estate: |
$812,500 |
Included? Yes |
| Inventory: |
$50,000 |
Included? Yes |
| A/R: |
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Included? |
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| Reason for Sale: |
Due to several dry cleaners being purchased, along with new equipment & facilities added, this is a better opportunity for a hands on owner with better financing. |
| Training: |
Yes. Terms to be negotiated.
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| Financing Terms: |
Several of our lenders have indicated that with a “strong business buyer”, plus state of the art tangible assets (FF&E and prime real estate) that this will make the intangible value of the business subject to more reasonable financing terms than those that burden the current owner.
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Operations
| Year Established: |
2006 |
| Last Acquired: |
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| Form of Ownership: |
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| Home Based: |
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| Relocatable: |
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| Type of Location: |
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| Absentee Owner: |
No |
| Online: |
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| Employees: |
Full Time: 32 / Part Time: |
| Managers: |
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| Hours: |
7 am-6 pm:M-F 9am-1pm Sat. |
| Owner Hours: |
40 |
| Non-Owner Payroll: |
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| Franchise Info: |
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Location
| Lease Expire: |
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| Option: |
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| Lease Terms: |
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| Lease Security: |
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| Monthly Rent: |
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| Square Footage: |
8000 |
| Facilities: |
Plant is a well designed 8,000 sq. ft. building. Established remote pick-up locations in other nearby cities are proving to be very positive additions to the overall business model.
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Summary
| Business Description: |
State of the art, centrally located plant, with recently remodeled counters and new state of the art equipment. The new POS computer system and other major improvements have enabled owner to reduce the labor force by over 50% from prior owner's levels. The POS system is a new client server system managed from a single location and the Enterprise accounting system is accessible from remote locations. Business is based upon the highest quality cleaning services with excellent customer service being the key ingredient. This service is enhanced by the ability within the system to track every customers order.
Key Strengths: Strong Brand; new equipment & new POS system/accounting system; multi locations in 4 cities; strong management team; long established; good reputation.
Financing: Several of our lenders have indicated that with a "strong business buyer", plus state of the art tangible assets (FF&E and prime real estate) that this will make the intangible value of the business subject to more reasonable financing terms than those that burden the current owner.
Reason Selling: Short term financing incurred to consolidate several dry cleaners in the city, along with the purchase of new equipment; facilities added and upgraded, makes this a better opportunity for a new hands on owner that can consolidate the financing. Current owner is more of a fixer than a maintainer of the business and prefers fo sell this state of the art business to a more hands on oriented owner. |
| Historical Summary: |
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| Owner Qualifications: |
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| Competition: |
Normal in each city.
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| Potential Growth: |
Continuation of the remote access pick-up locations is the focus with real estate leases that run from 1-4 years. |
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