Well-established NYC Metro area multi-generational service business, established in 1947, providing wholesale services to the dry cleaning retailers and fur establishments throughout the Eastern Seaboard of US. Combined Sales for 7-31-16 were $4,022,000. The company is currently the largest service company of its type in the US, servicing neighborhood dry cleaners and laundry outlets from Connecticut to Florida. Over 250,000 units are received and processed into 2 secured modern facilities.
Their are two segments of the business, one is a fur cleaning and off-season cold storage business established in 1947 the other was started in 2007 to handle the complexity of suede, leather, shearlings, boots. wedding gowns and area rugs beyond the expertise of the local neighborhood dry cleaner. The fur cleaning and storage business grossed $2. 027m and the ancillary cleaning business grossed $1.994m.
Both businesses are headquartered out of a 50k square foot facility based in NY metro area that is convenient to interstates and freeways. The owners have spent $1.2m in leasehold improvement and facilities upgrades to improve the operational efficiency of the business. The owner estimates that all machinery and equipment are currently state of the art. The business also has 18 trucks and vans used in the business. There is another smaller but similar satellite distribution facility located in Virginia serving the mid and lower Eastern seaboard area. All garments are transported by company owned trucks with company-employed drivers that have known their service customer for many years.
The company has 3 Departmental Managers overseeing 20 Full Time permanent and 30 seasonal employees and 7 Independent contractors who have routes connected to the business. Most employees have long tenure with the business. Current selling owner is 3rd generation.
Asking Price $783,000
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