Total of 18659 firms and businesses for sale today Saturday 18th May 2024
Sold. Largest Dry Cleaner & Laundry In Florida
LISTING DETAILS
Firms For Sale ID:
29992
Vendor reference:
listing 10095
Vendor website:
BUSINESS DETAILS
Location:
Primary sector:
Secondary sector:
Commercial property:
Business opportunity:
Asking price:
$3,500,000
Furniture, fixtures, fittings and stock included.
Furniture, fixtures, fittings and stock included.
Turnover / revenue:
$2,200,000
Net profit / cashflow:
$650,000
Years established:
20
Trading hours:
7am to 5pm EST Monday through Friday. 8am to noon Saturday, closed Sunday
Number of employees:
38
OTHER DETAILS
Reason for selling:
23 years in this business and seller wants to persue his marine business interests.
Financing available:
A $840,000 note is assumable by a qualified buyer. Current rate is 3.5% and amortizing monthly payment is approximately $4,800 per month. The current interest rate started Jan 2013, adjusts every 5 years, and has 20 years remaining.
Support and training:
up to one month negotible with the seller. Seller will stay local and be available for consultation for a fee after the first month.
Business is relocatable:
No
Business is web-based:
No
Business is home-based:
No
PROPERTY DETAILS
BUSINESS DESCRIPTION
Multi-location dry cleaner and laundry serving SW Florida from an 11,000 SF processing plant in Naples, Florida. Two drop off stores in key locations. Valet service to the homes of wealth clients is 1/2 of total revenue. Sales have been steady for over 10 years. The business uses unique processes and procedures that produce higher margins than any other drycleaner/laundry. The plant is operating at 50% of capacity, so there is plenty of room for expansion to new customer segments. The business is available for sale with real estate for $3.5 million; or, without real estate for $2.5 million plus a long-term lease.
Expansion Potential
excess plant capacity could be used to do wholesale processing for other small dry cleaners. Commercial hospitality accounts are a very small percentaage of sales and could easily grow to 30% with marketing effort.
Market / Competition / Non-Competition Agreements
Nothing nearby competes. Closest comparable business is in Miami, 100+ miles away. All other dry cleaners in SW Florida rely on walk in traffic from within two to five miles of their store fronts. Nothing compares to the quality work done by this business.