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Laundromat For Sale in Northern NJ

42/wk
Middlesex County, New Jersey, United States
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Asking Price$195,000
Revenue$161,860 Established2010
Cash Flow$37,000 Employees2 full-time
FF&E$170,000* FranchiseNo
Inventory$1,000* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Modern laundromat in a wonderful area of Middlesex County, New Jersey with substantial potential for an onsite owner operator. This industry does not require government agency approval to purchase. This particular business has one full and one-part time employee who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $2,500. The business has an assignable commercial lease which expires 2020-01-01 plus additional options, with a Gross monthly rent of $3,323 which includes property tax and rent security $3,250. The business is located on an active commercial avenue which consists of 1,450 square feet has a capacity for approximately thirty-two customers. The business assets, based on the past year’s corporate tax returns has an estimated value of approximately $170,000, and the sale consists of a fully equipped commercial retail laundromat, which includes 25 washers, 26 dryers, 2 years old, two change machines, plus racks, displays, shelving, POS system, tables, computers, software including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to purchaser upon request. The facility has appropriate municipal parking near to the business. The business is active seven days per week, with hours from 8:00 am to 10:00 pm. The sale includes a certificate of occupancy from the particular municipality and the required state or city licenses to conduct its day to day business. The yearly gross income is $161,860 and the business has a yearly net income of $37,000, based on an onsite owner operator and prior to debt service. The business has been valued at $195,000 based on a multiple of the average net yearly income and the value of the specific business assets and bank financing has been approved to a qualified buyer with an appropriate down payment, collateral and credit rating. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a solid investment return to the owner operator prior to debt service. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this particular business opportunity.
Facilities:This retail facility which consist of 1,450 square feet has a modern attractive and professional appearance. The business is on an active commercial avenue with various other successful businesses. This opportunity is located in Northern New Jersey, Middlesex County, which consists of various highly populated affluent communities with continued demand for this particular service.
Competition:To the best of our knowledge, due to various circumstances, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.
Growth Potential:The business presently has a limited marketing plan, no web site, poor wash / fold, and if improved can further develop the business bottom line net income.
Training/Support:The owner will remain post-closing in order to supply an appropriate training & transitional period to the new operator.
Seller Financing:Can be considered to a qualified buyer with an appropriate down payment.
Sale Reason:The owner is absentee.
Ad #102144
Seller Reference #LAUN264
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
973-837-0808
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