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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Modern Laundromat
(Services, Dry Cleaning, Laundromat)
Bergen County , NJ
Listed Price: $ 99,900
Listing ID: LAUN275

Listing DetailsGross Revenue: $ 149,450
Cash Flow: $ 20,487
FFE: $ 85,000 (Included in Price)
Inventory: $ 750 (Included in Price)
Reason for Sale:

The sale is due to the owner’s retirement after many successful years.


Training & Support:

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 will supply additional training at a fair cost to the purchaser.


OperationsYear Established: 2006
Days & Hours of Operation: Mon.-Sun. 7am-10pm
Non-owner Payroll: $ 2,643
Employees: 3
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 5669
Monthly Rent: $ 5,669
Square Footage: 2000
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.


SummaryBusiness 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 Shoprite super market. The business has a 2017 yearly gross income of $149,450 and a net yearly income of approximately $20,487 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. Home washing machines typically consume 30 to 40 gallons of water per wash load, or 2.5 to 3.0 gallons per pound of clothes laundered. High-efficiency, commercial clothes washers found in self-service laundries typically use as little as 0.5 to 1.5 gallons of water per pound of clothes laundered. By washing clothes at the local Laundromat, residents in drought-stricken areas will save at least half of the water they would typically use at home. 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 three part time employees who are unaware of the pending sale, fully expected to remain post-closing, and the monthly payroll expense of approximately $2,643. The business has an assignable commercial lease which expires December 31, 2022, plus additional options, 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. The business fixed assets has an estimated value of approximately $85,000 which is based on existing equipment and licensing replacement cost. This successful laundromat operation is active seven days per week, with hours from 7:00 am to 10:00 pm. The business has been valued / priced at $99,900 based on a multiple of the net yearly income which includes the value of the specific business assets. 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 photo does Not represent this particular business opportunity.


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.


Potential Growth:

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/Terms:

N/A