LISTING DETAILS
Listing Status: New
Asking Price: $199,995
Total Sales: $298,197
Cash Flow: $97,270
Real Estate Asking Price: N/A
FFE: $1,550
Inventory: $500
FFE Included in Sale: Yes
Inventory Included in Sale: Yes
Employees: 1 FT
Description
Business Summary:
Excellent opportunity to own a drop store dry cleaning business in Washington D.C. The business is located in upper Northwest DC in close proximity to American University within an office building and with plenty of covered parking. There is a vibrant retail, commercial, and residential presence in the immediate vicinity of the business which is ideal for a dry cleaning business.
The business has been established for over 40 years with the current owner acquiring it in 1983. The stability of the business is demonstrated over multiple decades and in various economic environments. Furthermore, the business is located in high-traffic part of the city and is fully surrounded by above average income per household residential areas with a mix of single family housing, town homes, and condominiums.
The business performance from both a revenue and cash flow stand point has been consistent and showing moderate growth over the past several years. There is an employee with over 10 years of experience currently in place and the business has been providing alteration services to clients as well. The business has a fantastic reputation in the area and this makes for a turnkey opportunity for a new owner. Please contact us today to learn more!
Description of Facilities: The business is located on the ground floor of an office building with well-known retail establishments and many other complementary businesses. The space itself measures approximately 500 square feet and is leased for $2,787/month. The equipment onsite includes: a sewing machine, hem sewing machine, ironing machine, overlocker, vacuum, and a computer.
Competition: There is standard competition for the industry and market, but this business has been established for over 40 years and has cultivated a loyal clientele and serves an affluent part of Washington, DC.
Growth & Expansion: There is room to grow and expand the business in a number of ways. Pick-up and delivery service has proven to be a high profit margin opportunity and this has not been pursued by the owner. The business has largely relied on its existing customer base and word of mouth to generate new business so a modest advertising campaign has the potential to bring new customers into the fold.
Seller Financing Available: No
Reason for sale: Owner is retiring.
Training & Support: Seller will provide necessary training and support.
For more information on this listing, please complete our Non-Disclosure Agreement
