Return to search results

Modern Laundromat

Somerset County, NJ

Seller Financing Available
Modern Laundromat
Contact Seller

Asking Price: $450,000

Cash Flow: $86,346

Gross Revenue: $262,829

EBITDA: N/A

FF&E: $388,000

Inventory: $1,000

Rent: $1.38 /Month

Established: 2000

Modern Laundromat

Save Print Share Valuation Report

Business Description

Recently available, remodeled, modern laundromat business in a wonderful North Jersey community of Somerset county. The laundromat has thirty-four (34) newer washers and thirty-six (36) commercial dryers which are approximately seven years young. The equipment represents the highest quality brand washers and dryers with many years of continued use to the new owner. This laundromat business offers self-service, drop off, and pickup/delivery service to its many customers. The laundromat is a family owned and operated business that has been part of the community since 2000. They are not just your regular laundromat down the block but rather “The neighborhood” laundromat, where neighbors greet and socialize with each other while they do their laundry. They have been providing laundry services for years to the community and take pride in their work and are grateful for all their customers. Regarding employees and payroll, as an absentee owner, this laundromat will require two full time employees at a monthly cost of $3,276. The employees are unaware of the pending sale. The payroll is routinely based on an hourly minimum wage and the staff is fully expected to remain post-closing. The transaction will include a new long-term lease with a monthly rent of $5,800, rent security will be required. The business fixed assets has an estimated value of approximately $388,000 which is specifically based on equipment, licensing, and facility replacement cost. This successful laundromat operation is active seven days per week, with hours from 7:00 am to 9:00 pm. The 2017 yearly gross income represented by the seller owner is $262,829and the business has a yearly net income of approximately $86,346 based on an onsite owner operator and prior to any debt service. This is a dependable safe business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent return on investment to the owner operator. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and the photo does Not represent this particular business opportunity.

Detailed Information

Location:
Somerset County, NJ
Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
4,200
Lease Expiration:
N/A
Employees:
2
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
This wonderful laundromat facility which consist of approximately 4,200, square feet, has a modern professional appearance. The business is on an active commercial avenue with various other successful businesses. This opportunity is in Northern New Jersey, Somerset County, and they service various highly populated communities and businesses with continued demand for this industry. The property was built in 1942, is zoned 4A commercial, 37 X 124 feet.
Competition:
Regarding competition, to the best of our knowledge, due to various circumstances, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.
Growth & Expansion:
The business can be further expanded with a new operator, presently has a limited marketing plan, no local advertising, limited wash & fold, poor web site and if improved can further develop the business yearly gross sales.
Financing:
Available to a qualified buyer with an appropriate down payment.
Support & Training:
With respect to training period the owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator. Also, if required the seller may be available to supply additional training, at a fair cost to the purchaser.
Reason for Selling:
Owner is retiring and relocating out of the area.
Contact Seller

Contact the Seller

(from currently available funds)
 
Contact Seller Loading

Ron Cervelli

Business Listed By:
Customer Service

Regal Consulting Corp.

Show Phone Number

View My Listings

Listing Statistics

Unlock

Demographic Information

Unlock


Ad#:1579948 Report an issue with this listing

The information in this listing has been provided by the business seller or representative stated above. BizBuySell has no stake in the sale of this business, has not independently verified any of the information about the business, and assumes no responsibility for its accuracy or completeness.
Read BizBuySell's Terms of Use before responding to any ad.


Similar Listings


IFPG Certified Franchise Consultant Training

Franchise Opportunity
Capital Required: $40,000