Dry Cleaning Company

BUSINESS DESCRIPTION

This offering is a three location, full-service, long-established dry-cleaning company offering comprehensive cleaning of all types of garment and home textiles, including free pick-up and delivery (over 100 drops). They also have commercial accounts, and a 26,000 cu. ft. storage vault. The production plant has additional capacity to scale.

The Company has a customer database of approximately 10,600 customers with approximately 10,300 that have been active since January 2020. Most customers pre-pay for their services which is not typical for the industry, where most cleaners have losses from unclaimed orders.

MANGEMENT & OPERATIONS

The Company employs 20 hourly, at-will employees in addition to one of the owners and his wife.

FACILITY & REAL ESTATE

The headquarters and production plant is a 4,000 sq. ft. production/retail facility owned by a related party. The other two retail locations are leased from third parties.

REASON FOR SALE

Owner wishes to retire.

FINANCIAL SUMMARY

2022 Pro Forma Revenue: $1,215,000
2022 Projected EBITDA: $189,000

OPTIONS FOR ACQUISITION

Owner will consider the sale of:

• $699,000 for production plant (with mutually agreeable lease), all three retail locations, and delivery routes with full assumption of two third party retail leases, or;
• $599,000 for three retail locations and delivery routes including fit-up, leases, and equipment, without production plant

ASKING PRICE & TERMS OF SALE

OFF THE MARKET

For more information call 518.599.0219.

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