Established Full Price Dry Cleaning Plant with Low Rent in N. Dallas 001209
Price: $300,000
Location: Dallas County, Texas
Industry: Service Businesses/Dry Cleaners
Listing ID: 001209
70-year established full-service dry-cleaning plant in N. Dallas with huge incoming growth is now available for acquisition. You don’t want to miss out on this dry cleaner that’s about to receive a tsunami of extra foot traffic. A mixed-use development project (considered one of the largest developments in north Texas) that’s been in the works for years, is in its final stages of completion and will bring hundreds of luxurious multifamily units, town homes and 15,000 square feet of restaurant and retail space within walking distance from this dry cleaner. This business was established by the original owner in 1950 and was acquired by the current owner from the previous owner in 2009. This dry-cleaning plant offers full-service dry cleaning and laundry services as well as alteration, rugs, comforters, household items, leather, and wedding gown cleaning in which all the work is done on the premises at the plant. A majority of the customer base consists of solid repeat customers and families of multiple generations that have been built for over 70 years of operation by providing high-quality services. The business did have a slowdown during Covid-19 but has now recovered and could easily double if not triple its revenue once the mixed-use development is fully occupied.
Down Payment: $150,000
Total Sales: $275,644
Cash Flow: $119,855
Inventory: $4,000 (Not Included in listed price)
FFE: $75,000 (Included in listed price)
Owner Financing: No
Franchise: No
Real Estate: No
Relocatable/Home-based: No
Reason For Sale:
Health issue
Training & Support:
The owner will provide sufficient training for an agreed-upon period to allow the transition into the business as seamlessly as possible.
Year Established: 1950
Employees: 3FT
Absentee Owner: No
Square Footage: 1,600 SF
Facilities Information:
The business occupies 1,600 SF space in the end-cap space of a retail strip center located in an intersection surrounded by restaurants, retail businesses, and densely populated residential areas. The store is conveniently located just off the major highway, and there is a lot of traffic as there is a national department store across the street. Most of the major equipment, including boiler, washer, laundry parts have been updated under the current ownership and have been immaculately maintained.
Competition:
With more competition closed down during Covid-19, this dry cleaner takes advantage of a less competitive market. A strong, regular loyal customer base accumulated for over 70-years of operation is the biggest advantage of this business. In addition, the business has earned a good reputation from the local community for its highest quality products and exceptional customer service.
Potential Growth:
This dry cleaner will experience a surge of growth as the mixed-used development project finishes its construction and is occupied with tenants and residents. The mixed-used development will be within walking distance and will consist of hundreds of luxurious multifamily units and town homes. The development will also consist of shopping, restaurants, office tower, and amenities such as ride-hailing waiting lobby, a resident entertainment lounge, a pool with private cabanas, a grilling pavilion and more. With a significant amount of workforce coming back to the office after covid-19, sales are expected to recover continuously, and fully recovered by the beginning of 2022. Also, with more competition closed down during Covid-19, this dry cleaner takes advantage of a less competitive market. Currently, no single marketing is in place while word of mouth has provided an ample amount of customer acquisition. Promoting the business to expose itself to local customers by setting its website
Financing/Terms:
100% down at the time of closing or 50% Cash Down with SBA Financing for Qualified Buyers with Industry Experience.
