Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Commercial Laundromat
(Services, Dry Cleaning, Laundromat)
Bergen County , NJ
Listed Price: $ 135,900
Listing ID: LAUN281

Listing DetailsGross Revenue: $ 111,675
Cash Flow: $ 25,000
FFE: $ 120,000 (Included in Price)
Reason for Sale:

The present owner is relocating to a non-competing alternative business.


Training & Support:

The owner will remain post-closing for 30 days in order to supply an appropriate transitional period to the new operator.


OperationsDays & Hours of Operation: Mon.-Sun. 7am-8pm
Non-owner Payroll: $ 875
Employees: 1
Absentee Owner: No
LocationLease Expire: 0000-00-00
Square Footage: 1600
Facilities:

This single unit retail facility, which is 1,600 square feet consists of a free-standing building with a huge private parking area. The laundromat is near various highly active and successful businesses which attract numerous shoppers. This opportunity is located in Bergen County, New Jersey, which consists of various highly populated urban communities with continued demand for this particular service.


SummaryBusiness Description:

Excellent business opportunity to own this commercial laundromat which is located in an active area of Bergen County, Northern New Jersey on a busy county road. This laundromat is conveniently located near various residential rentals units and in a highly urban populated area. The business is next to a successful Rite Aid pharmacy and Quick Check which attract a high volume of customers. This wonderful location is on a high-volume road and additionally offers a wash and fold service. The business has sixteen (16) dryers and twenty-eight (28) washers. The sale includes a two-year lease with additional time extensions. This laundromat presently has one part time employee who is unaware of the pending sale, responsible for the wash & fold service and fully expected to remain post-closing, monthly payroll is approximately $875.00. The business is active seven days per week, with hours from 7:00 am to 8:00 pm. The 2018 yearly gross income is $111,675 and the business has a yearly net income of approximately $25,000 which includes the seller discretionary income based on an owner operator and prior to debt service. This is an excellent opportunity which can be substantially improved by upgrading the equipment and instituting a local marketing plan in order to reach local customers. This is a dependable business opportunity based on the asking price, and potential future income. Please call for additional information. The business has been priced at $135,900 based on the value of the existing business assets which includes the multiple of the net yearly income. Also, based on the undisclosed income, SBA financing will be a challenge to obtain. 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 may not represent this particular business.


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 an appropriate non-compete agreement to the purchaser.


Potential Growth:

The business presently does not have a marketing plan; no web site and the facility must be redecorated in order to improve the gross sales. Additionally, a pick and delivery service can be instituted also assisting the cash flow.


Financing/Terms:

Available to qualified buyers.