Business Description
Don't miss this rare opportunity to own a profitable dry cleaner and laundromat business in one of North Carolina’s most desirable markets. This well-established operation with multiple locations has a loyal customer base and offers a comprehensive range of services, including dry cleaning, laundromat, wash-dry-fold, and route-based pickup and delivery.
Approximate Financial Summary:
2022: Revenue: $3,525,000 | Net Income: $345,000 | SDE: $495,000
2021: Revenue: $2,955,000 | Net Income: $624,000 | SDE: $420,000
2020: Revenue: $2,800,000 | Net Income: ($125,00) | SDE: $152,000
2019: Revenue: $4,035,000 | Net Income: $450,000 | SDE: $810,000
Key Highlights:
Multiple Locations: Strategically positioned throughout North Carolina, these well-maintained locations cater to a diverse customer base, including walk-in customers, repeat consumers, healthcare facilities, universities & colleges, and more.
- Pandemic Recovery: The business has continuously improved its financial results following the COVID-19 Pandemic, and 2023 financials are on track to exceed 2022 results.
- Growth Opportunities: The business has identified several areas for expansion that a new owner could benefit from, such as leveraging new technology, adding more delivery routes, and exploring additional service offerings. These initiatives, combined with a nimble operational structure, position the business for continued success and growth.
- Technology and Processes: Ownership has continuously upgraded the business’s technology and systems, giving them a deep insight into day-to-day operations. From marketing to operations, new ownership will be stepping into a turn-key business with tight operational controls.
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- Skilled and Experienced Staff: The business boasts a dedicated and experienced team in place, ensuring smooth operations and consistent service quality. The knowledgeable staff contributes to the business's success and offers valuable expertise to the new owner.
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- Diverse Customer Base: Serve a wide range of customers, including walk-ins, repeat consumers, healthcare facilities, universities & colleges, and more. The business has built strong relationships with these customers, ensuring a steady stream of revenue.
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- Well-Maintained Equipment: The business is equipped with modern and well-maintained machinery, ensuring efficient operations and high-quality service. This commitment to maintaining top-notch equipment sets the business apart from competitors.
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- Real Estate: Landlord is fully aware of the sale and interested in providing long term triple net leases at a pre-determined rate. This rate is factored into cash flow calculations for the business, providing long-term stability for the new owner.
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To maintain the seller's confidentiality, more detailed information about the financial figures and other non-financial aspects of the business will be provided upon the completion of an initial interview, disclosure of personal financial status, and the signing of a non-disclosure agreement (NDA).
Don't miss out on this prime investment opportunity in the thriving dry cleaning and laundromat industry. Contact us now to schedule a brief initial interview and secure your future in this profitable business.
* Real estate leases offered by MidStreet Realty.
GROWTH & EXPANSION
Growth opportunities include leveraging newer technology, adding more delivery routes, and exploring additional service offerings. Other opportunities include expanding service area, increasing marketing efforts, and targeting new customer segments.
Competition
While competitors exist in the market, the company's multi-location presence, unique service offerings, and use of the latest technology provide significant differentiation from “mom-and-pop” competitors.
Reason for Selling
The owner is retiring after many years of business ownership and is looking for a buyer to continue the success of the business.
SUPPORT & Training
The owner is willing to provide training and support for a smooth transition, including onsite support and call/email support.
