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Laundromat For Sale

24/wk
Passaic County, New Jersey, United States
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Asking Price$49,000
Revenue$60,000 Established1990
Cash Flow$20,000 Employees1 full-time
FF&E$55,000* FranchiseNo
Inventory$1,000 RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Laundromat business available with a gross income of $60,000 and a consistent net income of $20,000 yearly to the owner operator. The sale includes a long term ten-year lease agreement at a modest rent expense. The equipment is primarily Maytag consisting of standard age, fifteen washers and ten dryers and a ten year old Bradford boiler. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply an appropiate investment return to the owner operator prior to debt service. This industry does not require government agency approval to purchase. The retail facility consists of 1,220 square feet and located on a commercial avenue with other local businesses. This business opportunity is located in Northern New Jersey, Passaic County, which consists of a very high population with continued demand for this service industry. This particular business presently has no employees. The business has an assignable commercial lease which expires 2026-01-01 plus additional options, with a monthly rent of $1,150, $11.31 per square foot and rent security of $2,600. The business is located in a free standing facility which consists of 1,200 square feet has a capacity for approximately fifteen customers. The business assets has an estimated value of approximately $55,000 which is strictly based on replacement cost and the sale consists of a fully equipped commercial laundromat, which includes washers and dryers, displays, shelving, tables, change machine 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 facility. The business is active seven days per week, with hours from 7:00 am to 10:00 pm. The sale includes a certificate of occupancy from the municipality and the required city licenses to conduct its day to day business. The owner will remain post-closing in order to supply an appropriate transitional period to the new operator. The owner has an alternative business opportunity. The business presently has a limited marketing plan, poor web site and if improved can further develop the business bottom line net income. 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. The 2015 yearly gross income is $60,000 and the business has a yearly net income of approximately $20,000 based on an owner operator and prior to debt service. The business has been valued at $49,000 based on a multiple of the net yearly income including the value of the specific business assets and seller financing has been approved to a qualified buyer with an appropriate down payment, collateral and credit rating. 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:The retail facility consists of 1,220 square feet and located on a commercial avenue with other local businesses. This business opportunity is located in Northern New Jersey, the city of Paterson, Passaic County, which consists of a very high population with continued demand for this service industry.
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, poor web site 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 transitional period to the new operator.
Seller Financing:No seller financing available
Sale Reason:alternative business opportunity
Ad #88395
Seller Reference #LAUN221
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
973-837-0808
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