Dry Cleaning / Commercial Laundry with Laundromat

Iowa

Seller Financing Available

Asking Price:	$250,000
Gross Revenue:	$321,000
FF&E:	$80,000
Established Year:	1985

Cash Flow:	$78,000
Inventory:	$6,000
Real Estate:	$475,000

Listing ID: 2224988Listing provided by BizBuySell

BUSINESS DESCRIPTION

Established, profitable, dry cleaner with laundering services

Buy this established, profitable, successful dry cleaner and laundering services business in Eastern Iowa with laundromat for only two and half times seller's discretionary earnings (SDE).
This $320,000 annual revenue business generates nearly $100,000 SDE annually for the owner.
This company is located in the thriving Cedar Rapids/Marion/Hiawatha/Robins - Iowa City/Coralville/North Liberty region.
The fully equipped, well-maintained, and clean plant can handle more volume.
With cash flow from day one, everything in place, and the seller's support, this opportunity is better than turnkey.
This enterprise provides essential services for consumers and organizations like hotels and schools.
The industry and market have the potential to grow.
This could be a great opportunity for a first-time business owner, strategic buyer seeking to expand in Eastern Iowa, investor, or entrepreneur through acquisition.
Plus, the successful buy can control their site by purchasing the building.

DETAILED INFORMATION

Location

Iowa

Inventory

Included in asking price

Real Estate

Owned

Building SF

5,510

Employees

Furnitures, Fixture & Equipment(FF&E)

Included in Asking Price

Facilities

Constructed in 1980, the highly functional, +/-5510 sq. ft. building is efficient, well-maintained, and ideal for this business. Real estate listed for sale in addition to the business asking price for $475,000 or $3000/month triple net (nnn) by Heartland Business & Financial Corp., Licensed Real Estate Brokerage in the State of Iowa, Cedar Rapids, IA.

Competition

As long as clothes, drapes, tablecloths, etc. need to be cleaned, dry cleaners, commercial laundries, and laundromats provide important services for households and businesses. The dry cleaning industry has gone through a consolidation nationally. That can result in less competition. The demand for commercial laundering services is expanding as consumers outsource. This business is in an industry that can't be replaced or reduced by online competitors.

Growth & Expansion

The plant and equipment have the capacity for increased revenue. There are multiple means of expanding the business, especially for an owner with marketing, advertising, merchandising, or sales skills.

Financing

Seller may consider financing up to 10% for well-qualified buyer.

Support & Training

No experience is needed. A new owner can readily learn the basics of operating a business like this. Customer service is key. The owner wants to see their successor thrive and is willing to be available for essential orientation, training, and support post-closing.

Reason for Selling

Retirement

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