LAUNDROMAT NETS $110,000 LAUN304

Price: $445,000

Location: Essex County, New Jersey USA

Industry: Laundromat

Listing ID: LAUN304

Young modern and profitable laundromat located on an active avenue in a major commercial mall in Essex County New Jersey. 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. For Qualifications purposes, this business opportunity industry does not require government licensing approval to purchase or operate other than the basic required municipal licenses and permits. This business opportunity is in a free stranding commercial building, on an active county road, consists of approximately 2,625 square feet and has an estimated capacity for sixty-five customers. The business facility has appropriate private mall public parking near to the location on site as part of the commercial lease. 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 business opportunity. Perspective buyers are required to execute a Non Circumvential Agreement. The business fixed assets has an estimated value of approximately $210,000 which is based on the replacement cost of the original buildout, representing equipment, licensing, tangible & nontangible, in addition to the multiple of the existing net yearly income. This business transaction consists of a fully equipped commercial retail operation, which includes, required municipal & state licenses, fifty washers, and thirty six well maintained dryers, newer cameras televisions, water heaters, web site, social media venues, displays, shelving, POS system, tables, computers, software 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.

Listing Details

Revenue: $410,000

Cash Flow: $100,000

FFE: $210,000 (Included in Price)

Inventory: $1,500

Form of Ownership:

C Corp

Terms and Conditions?:

The 2019 yearly gross income represented by the seller owner is $410,845 and the business has a yearly net income of approximately $115,000 based on an onsite owner operator which includes any seller discretionary income and prior to any debt service. The 2021 company’s gross income is expected to be similar to the previous years. The owner has a new POS system which can document the gross income for the due diligence is recommended. The business has been valued / priced $445,000 based on a multiple of the net yearly income including the estimated value of the business assets. Also, bank financing may be available to a qualified buyer with an appropriate down payment, collateral, and credit rating.

Reason For Sale:

The purpose of this business transaction is due to the owner semi absenteeism.

Training & Support:

Training and owner 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 may be available to supply additional training, at a fair cost to the purchaser.

Operation

Year Established: 2010

Year of Last Acquisition: 2010

Days & Hours of Operation: Days Hours of operation, this laundromat business is active seven days per week, with 24 hours of operation.

Owner Hours Per Week: Absentee

Employees: Regarding employees and payroll, this laundromat consist of four full & part time employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, the staff is unaware of the pending sale & fully expected to remain post-closing, and the monthly payroll expense will be supplied.

Location

Lease Option: Ten year term

Monthly Rent: $9,228.50 all in,

Type of Location: Commercial

Square Footage: 2625

Relocatable?: Yes

Facilities Information:

This modern younger laundromat consists of approximately 2,625 square feet with an attractive appearance. The business is in a commercial mall on a local avenue with other active businesses. This opportunity is in Northern New Jersey, Essex County, and the general area consists of highly populated urban communities with continued demand for this personal service.

Ron Cervelli

contactus@regalconsultants.com

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