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Modern Laundromat Business For Sale

Union County, New Jersey, United States
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Asking Price$465,000
Revenue$560,490 Established1985
Cash Flow$135,000 Employees4 full-time
FF&E$275,000* FranchiseNo
Inventory$2,000* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Profitable high volume Laundromat priced to sell based on fair market value located in a highly populated urban area of Union County, New Jersey. The business equipment has been upgraded within the past years with a clean attractive image. The business has a gross income of $560,490 and a net yearly income of $135,000. The sale includes a fully equipped commercial retail laundry store, which includes various high production washers and dryers, coin machines, displays, shelving, tables, 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. This particular business has four full and part time employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $5,700. The business has an assignable commercial lease which expires 2023-01-01 with a monthly rent of $14,000 and rent security $20,000. The business is located in a free standing commercial facility which consists of 5,000 square feet and has a capacity for approximately one hundred customers. The facility has appropriate municipal parking nearby to the Laundromat. The business is active seven days per week, with hours from 7:00 am to 9:00 pm. The sale includes a certificate of occupancy from the particular municipality and the required state weights & measure licenses to conduct its day to day business. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expect to supply a consistent investment return to the owner operator prior to debt service. 2015 yearly income (July 2014-June 2015) is $560,490 and yearly net income of $135,000 prior to debt service. The price has been valued at $465,000 based on a multiple of three times the net yearly income and the value of the specific business assets and seller financing has been approved to a qualified buyer with an appropriate down payment. Please do not disturb business, this sale is absolutely confidential, all viewings are by appointment only and photo may not represent this particular business.
Facilities:This retail facility consists of 5,000 square feet with a clean attractive physical appearance. The business is on an active commercial avenue with various other successful businesses. This opportunity is located in Northern New Jersey, Union County, which consists of highly populated working class urban communities with continued demand for this particular personal 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 an absentee management, a limited marketing plan, poor web site and if improved can further developed the business bottom line corporate income.
Training/Support:The owner will remain post-closing for 30 days and supply a transitional period.
Seller Financing:Seller financing is available to qualified buyers.
Sale Reason:The owner is out of the area, involved in alternative businesses.
Ad #86639
Seller Reference #LAUN218
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
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