Region: Central BC
Category: Other Services
This well respected Dry Cleaning and Laundromat facility provides laundry and dry cleaning services with value-added components such as a Bachelor Laundry service as well as Alterations and Repairs. They do all types of dry cleaning except leather and fur — as they are an exclusive agent for Ace of Suedes in Vancouver. Coin laundries are unique small businesses as they have no inventory or receivables yet generate steady cash flow. Like food and shelter, clean clothes are considered a necessity so this business will always be in demand. The company has a number of of longstanding (over 10 year) commercial accounts including, a medical clinic, hotel, mining company, school district and police department. The business is compliant with all federal dry cleaning regulations as per Environment Canada (http//www.ec.gc.ca/regs-tetra/). Major sources of revenue: 55% dry cleaning and 45% coin laundry. Revenues are based on 98% cash operations with only about 5 monthly accounts. A new owner with the energy and vision to acquire additional commercial/industrial accounts could substantially increase profits with a minimum of two more revenue streams.
Economic growth and development in the area necessitates building crews with laundry needs – a biomass hydro project, the construction of a major power line and recently opened silver mine indicate a geographical location that is “booming” with industry. This is a perfect opportunity for an owner/operator looking for a lifestyle change in an area of British Columbia that experiences mild winters and warm summers.
Value of business: $170,000. Value of land/building $325,000. Total asking price $140,000. Must be sold together. For more information, contact Michael Naprawa at 250-713-7890.
Broker: Michael Naprawa
Listing ID: CENTRBC001-N13
Asking Price: $140,000
Net Cash Flow: $14,357
FF&E Asking Price: $18,000
Inventory Asking Price: $8,000 (Included)
Real Estate Available: Yes
Real Estate Asking Price: $265,000
Building Size: 3200 sq ft
Year Acquired: 1977
Full-Time Employees: 2
Part-Time Employees: 3
Trading Hours: 8:30-6:30, Mon-Sun
Reason for Sale: current owner wishes to retire