Cleaners: Rev $22K/m, Netting $7.1K/m, Reduced to $150K, RS

Lake Elsinore, CA (Riverside County)

Decent Income Dry Cleaners
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Asking Price: $150,000

Cash Flow: $85,200

Gross Revenue: $2,640,000

EBITDA: N/A

FF&E: $0

Inventory: $5,500*

Rent: $4,600 per Month

Established: 2007

*not included in asking price.

Cleaners: Rev $22K/m, Netting $7.1K/m, Reduced to $150K, RS

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Business Description

Well established dry cleaners specialized in providing high quality dry cleaning, laundry, and alterations and cleaning materials, purses, comforters, leather, curtains, and more. This 14-year-old-dry-cleaners located in a national brand anchored mammoth shopping center with fine parking in front. On a hot spot of a busy street with high visibility. High traffic count, Densely populated. Upscaling area.
Room to grow due to a moderate profit margin price- pants $3.25, suit $11.00, blouse $5.95, dress, shirt $1.85, l. shirts $2.85. The 45 lbs. hydro-carbon machine and all equipment in very good working conditions. Husband & wife keep store clean and maintains well. 2 skilled employees. Found not contaminated by soil tests.
Here is more:
• Monthly total turnover is $22,000 on average
• Possible monthly net income is $7,100 or up
• All-in rent is $4,600, including NNN / CAM.
• Premise size is approx. 1,500 sq. ft.
• 3 years lease leftover with a 5-yr option
• Hours Mon-Fri from 7 am to 6 pm, Sat 8 am-3pm, closed on Sun
• 1 full-time & 1 part-time. Two owners work alternatively as needed
• Wages are $6,500/mo
• Operated for 14 yrs by the current owner, but was established 28 yrs ago
• Ample parking space in front
• SBA loan is very possible if buyer acquires 5+5 lease. Own this business through as little as $60,000 down. Monthly amortization expected at $1,379 over 10 years at 5% annum. Buyer must prove financial eligibility, 700+ FICO, sufficient down payment in the bank account seasoned more than 90 days at the time of submission of SBA loan application.
• NDA (Non-disclosure Agreement) is attached. Complete, sign and return.
• Send your inquiry to Kevin Kim at beeinvest.kim@gmail.com or message at(714) 345-6514
• Note
> The business summaries and financial information posted here are deemed reliable and are also obtained from trusted sources.
> However, it is recommended that the use of this information be limited to records prior to the outbreak of the Covid-19 pandemic in most parts, including recent improving sales over the last 10 months.
> The broker and / or its agent shall not be held liable for such information whether or not it is true.
> It is the buyer's sole responsibility to verify whether such disclosures are true or not.
> Please note that, however, buyers have the right to check books and records during the given due diligence period. Also, your agent will provide the right procedures in a timely manner.
• If you are a ready buyer and you are interested in learning more about this store and property acquisition opportunity and are serious about purchasing it, you are strongly encouraged to come to our office to get the financial details, SBA loan procedures and eligibilities, including detailed business information that best fits your needs, due to the unique nature of the business itself.
• Once you come to our office, you can get more listings for the business and/or property that you've always dreamed of, or other mainstream stores that might be the best fit for your goals.
• Advise at least 3 days ahead so as to get a better service

Attached Documents


Detailed Information

Location:
Lake Elsinore, CA
Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
1,500
Lease Expiration:
2/28/2029
Employees:
2
Facilities:
1,200 racks, 45 lbs. hydrocarbon machine, Shirts machine
Competition:
yes
Growth & Expansion:
Currently closed on Sundays. Used to open before the pandemic. Ideal to keep opening on Sundays. The business does little to no marketing currently, and new owner will benefit from aggressive marketing
Financing:
Clients show Mon - Wed only
Support & Training:
2 weeks after closing escrow
Reason for Selling:
Retirement
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(from currently available funds)
 
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Kevin Kim

Business Listed By:
Kevin Yong Kim

Bee Realty Group

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