Two dry cleaners-established in great St. Paul neighborhoods for over 40 years.
One location is a fully equipped dry cleaning plant; the second depends on the first location for dry cleaning services and it is contemplated that a purchaser will purchase both locations. Location two is more than a “drop station” however, equipped with washers, dryers, presses etc.
The plant is housed in a 5000 square foot facility. Equipment includes a Vic Dry Cleaning Machine, a Dayton Air Compressor, a Fulton Steam Boiler, clothing racks, steam irons, presses, and all of the necessary equipment and fixtures for the operation (complete equipment lists available).
The second location is equipped with a 2 year old Fulton boiler, a 3 year old Curtis air compressor, washers, dryers, presses and a lot of other items for its operation (complete list available). Second location about 1000 square feet.
The buildings that the businesses occupy are owned by the current business owners; they will lease the facilities for $2750 and $1750 per month respectively..
Sales for both locations in 2014 (down slightly because of the loss of a good account) were $456,188.41. Net profit was $116.597.20 and the owner took a salary of $53,300. The current owners believe that an owner operator can reduce payroll by $70,000 per year. After accounting for rent-cash flow to an owner/operator is about $180,000.
In 2013, sales were $478,132.77.
About 65% of sales were dry cleaning, and about 35% of sales were for laundry services.
The owner is asking $435,000 for the businesses and all assets.