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Modern Laundromat

Bergen County, NJ

Seller Financing Available
Modern Laundromat
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Asking Price: $79,000

Cash Flow: N/A

Gross Revenue: $133,146

EBITDA: N/A

FF&E: $85,000

Inventory: N/A

Rent: $5,669 /Month

Established: 2014

Modern Laundromat

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Business Description

Modern profitable laundromat located in a prime area of Bergen County, NJ and conveniently located in an active commercial mall with many other successful businesses including a Shop rite supermarket. The business has a 2017 yearly gross income of $133,146 and a consistent net yearly income, with additional income available based on a semi absentee owner operator. The company offers wash & fold which consists of approximately 25% of the gross sales. This company has no marketing plan which can further increase gross sales. The average coin laundry saves their community millions of gallons of water over the course of a year. This laundromat assists their customers by offering wash & fold service, so laundry day no longer has to take "the entire day, rather freeing time allowing the opportunity to rather than spend the weekend doing laundry, their customers take advantage of the wash & fold service. This company has 2 part time employees who are unaware of the pending sale, fully expected to remain post-closing, and the monthly payroll expense of approximately $2,150. The business has an assignable commercial lease which expires December 31, 2022, with a gross monthly rent expense of $5,669, cost per square foot is estimated at $34.00 and rent security of approximately $5,669. This is a dependable safe business. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this particular business opportunity.

Detailed Information

Location:
Bergen County, NJ
Real Estate:
Leased
Building SF:
2,000
Lease Expiration:
N/A
Employees:
2
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
This wonderful business opportunity is in Northern New Jersey, Bergen County, which consists of various highly populated communities with continued demand for this personal service industry. The retail facility which consist of approximately 2,000 square feet and has a modern and attractive appearance. The business is in a mid-size commercial Shoprite mall with various other active and successful businesses.
Competition:
There is a limited number of competitors in this particular area, 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 developed by instituting a website, marketing advertising plan and delivery service representing an increase in the yearly gross income.
Financing:
Will be considered with an appropriate down payment.
Support & Training:
The owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator.
Reason for Selling:
The sale is due to the owner’s retirement after many successful years .
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(from currently available funds)
 
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Ron Cervelli

Business Listed By:
Customer Service

Regal Consulting Corp.

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