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Oakland County

  • Listing Number: 217-21080

  • Category: Dry Cleaners/Laundromat

Asking Price $179,000
Down Payment
Gross Revenue $220,000
Total Adjusted Net Income $70,000
Equipment / Fixtures $75,000
Year Established 2019
General Location Oakland County
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This is a great opportunity to take over a profitable dry cleaning business with a good reputation that has been serving the community with 100% green and eco-friendly materials. Seller has enjoyed being a hands-on operator but must exit for health reasons. There are three employees and newer equipment, which presents an opportunity for a new owner to manage and grow the business. Seller has established a wide range of services, some of which are outsourced with high margins. An vibrant delivery and pickup route includes a 2020 compact cargo van and scheduling software. Seller is active in the business with 1 FT employee and 2 PT employees. Hours of operation are M-F 7:30a - 6:30p, Sat 9a - 4p. $75,000 in FF&E included in Asking Price.

This is a leased location of 2,950 square feet with a Total Rent of $4,600. Lease ends 12/2021. Seller is active in the business with 1 FT employee and 2 PT employees. Hours of operation are M-F 7:30a - 6:30p, Sat 9a - 4p. $75,000 in FF&E included in Asking Price. $10,000 made in Leasehold Improvements.

Google shows eight dry cleaning businesses in the area. A few of them are listed for sale. Many dry cleaning businesses have long time owners who have been happy to carve out their piece of the pie without investing in growth. Many are now retiring, and more will do so in the coming years creating an opportunity for fresh talent, which describes the owners of this business. Because the owners have to sell, a new owner can capitalize on their momentum versus jump starting some other stagnant business. While most Sellers will train, you may prefer to be trained by an owner who has doubled monthly revenue over the past 12 months.

The owners added the route in 2020 during the pandemic including software and a new van. They invested in the store including paint, lighting and conveyor automation. Despite having to exit, they continue to build the business in preparation for the new owner and are excited to share their plans that may yet be fulfilled. Route expansion is a great opportunity to pick up customers left behind by other cleaners exiting or reducing their hours, or to pick up cleaning business for other dry cleaners who want to outsource their cleaning. This is already being done and can grow. While this business has quickly established an excellent reputation online and with neighborhood groups, there is very little advertising or community outreach.

Gross Revenue $220,000 Listed Price $179,000
Total Income $70,000 Down Payment
Base Rent $4,600 Square Feet 2950
Total Rent $4,600 Lease Expiration 12/2021
Rent Deposit $3,044 Lease Options
Inventory Not Included Leasehold Improvements $10,000
Equipment / Fixtures $75,000 Other Assets
Full-Time Employees 1 Training Period 2 weeks, 8-noon
Part-Time Employees 2 Special License Required None. Annual boiler inspection required
Contract Staff Reason for Selling Critical Health Diagnosis

The information contained herein was received from the Seller and is deemed reliable but not guaranteed. First Choice Business Brokers (FCBB), has relied upon the Seller to provide the above details and has NOT verified this information. FCBB is not responsible for and does NOT warrant any statements, projections or any information provided by the Seller. The User/Buyer will be solely responsible for verification of the Seller's profits and business operation. By acceptance of this document, the Buyer/User agrees that all information contained herein is strictly confidential and will not be disclosed to any other party without prior written authorization. The Buyer/User confirms and understands that FCBB has NOT performed an independent investigation of the business or figures quoted herein.

FCBB strongly recommends that a Buyer should seek legal and accounting advice prior to purchasing a Business. Any change to the above information requires both the Seller's and FCBB's written approval. Any change made to this document without FCBB and Seller approval is not valid.

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