Richard Vass
Richmond, VA (USA)
Role(s):
Other
Richard G Vass Gen. Contr.
Find More Startups
Startup
Location:
Richmond
Industry:
Real Estate
Year Founded:
1976
Number Employees:
1-10 people
Business Stage:
Creation/Idea
Entity Type:
Sole Proprietorship
Description:
I am now in speculation.
Other
Hospitality linen service
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Service Provider
Location:
Hampton
Description:
Aquire positive cashflow businesses. Linen cleaning business doing well. Owner retiring.
Hospitality Linen Service Company with Plant
Location: Hampton Roads, VA
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The leading full service linen cleaning company in a rapidly growing hospitality marketplace in Hampton Roads, Virginia. In addition to years of experience processing and cleaning clients linens, the business has an outstanding reputation for superior customer service. Services include cleaning, folding, pressing, and delivery of all of a client’s towels, bedspreads, sheets and pillow cases. Also, the company offers amenity services packaging to enable the client to provide efficient and complete products for its patrons rooms.
The large modern cleaning facility is located in a 5,200 square foot facility that is centrally located in the metropolitan area with direct interstate access. The seller owned building includes offices, plant equipment and storage areas.
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The company increased cash flow 21% in 2010. Growth is continuing in 2011. Revenues are growing 11% and new contracts show a 43% increase in linen weight. Plus, in March of 2010 the company invested over $200,000 in new state of the art equipment that has dramatically reduced the labor needed at its plant. All equipment is in superior condition.
Strictly low key in marketing, the company has not made any advertising effort to promote its services. With additional plant capacity capability in place, expansion is possible to the local and regional markets. A buyer has a significant opportunity to capitalize on the businesses superior reputation with numerous referenced accounts. The business has experienced management in place.
For an existing dry cleaning or textile restoration business, it is a great strategic acquisition opportunity to immediately purchase a predominant established linen service company with a full operating plant to capitalize on its long term goodwill, reputation and client base. Reason for sale is retirement.
Purchase Price: $2,125,000
Gross Revenues: $1,358,910
Cash Flow: $ 484,416
FF&E: $395,000 (included in asking price)
Inventory: $24,000
Services Provided:
- Business Planning
- Shipping/Logistics
- Sales Consulting