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For Sale: Dry Cleaner - Well Established, 33 Years - Los Angeles, California

$479,000.00

Asking Price

  • Address: Los Angeles,

  • Status: Active

  • Posting ID: 288087

  • 10/18/24

Los Angeles Dry Cleaner - Well Established, 33 Years Business For Sale
Dry Cleaner - Well Established, 33 Years Company For Sale
Los Angeles Dry Cleaner - Well Established, 33 Years Companies For Sale
Buy, Sell A Dry Cleaner - Well Established, 33 Years Business
Selling A Los Angeles Dry Cleaner - Well Established, 33 Years

Description

For sale is a well-established dry cleaning business, owned and operated by the same family for 33 years. The current aging owner is looking to retire, creating a rare opportunity for a high-income business. This old-school establishment processes 50-52% of its sales via credit cards but operates without a POS system. The business is supported by two loyal employees, one with 20 years and the other with 9 years of service.

The clientele is approximately 90% African American and 10% Latino, contributing to a diverse customer base.

Sales revenue figures are as follows:

  • 2021 (Pandemic period): $452,700/year
  • 2022: $505,760/year
  • 2023: $510,195/year

The average sales revenue for the past two years, post-pandemic, is $507,977 per year. It's challenging to find a business in the area generating this level of gross sales and net income.

The current lease is valid until May 1, 2032, with a base rent of $4,232.32 plus CAM charges of $776.68, totaling $5,000 per month. There will be no base rent increase until after May 1, 2032. If new option years commence after this date, the base rent will increase by 5% annually.

The business uses a Union 60LB hydrocarbon dry cleaning machine, and a new boiler was installed in January 2020. The seller will cover the cost of the remaining balance.

The following financial documents are available for review:

  1. 3 years of Business Income Tax Returns
  2. 3 years of 1099-K Credit Card Sales Reports
  3. 3 years of Profit & Loss Statements

Everything is in place to verify the business's success. Prospective buyers are welcome to observe operations in person. The price is reasonable, and while the business may appear unassuming, it generates outstanding income.

To get more information about this Dry Cleaner - Well Established, 33 Years business for sale in Los Angeles please phone James Kwon (Broker - BRE License #:01382901) at 213-327-5400 Cell and 213-327-5400 Text - if you get voicemail please leave a detailed message - make sure you mention you saw this posting/ad #288087 on BizBen.com. In addition to phoning James Kwon, make sure you email James Kwon above to get more info about this Dry Cleaner - Well Established, 33 Years, to ask any questions or request an appointment to see this business for sale. Thank you. License # 01382901. dba: Pro Biz High Equity Real Estate Service,.

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Contact

  1. Name: James Kwon
  2. phone iconPhone: 213-327-5400 Cell
  3. phone iconPhone: 213-327-5400 Text

Details

  1. Asking Price: $479,000.00

  2. Down: $200,000.00

  3. Cash Flow: $265,476.00

  4. Revenue:    $507,977.00

  1. Area: Los Angeles

  2. City: Los Angeles

  1. Attributes:

    Training & Support

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Related Links & Information Regarding This Posting

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