LAUNDROMAT SOMERSET NJ. laun361

Price: $450,000

Location: Somerset County, New Jersey

Industry: Laundromat

Listing ID: LAUN361

Modern laundromat business in a wonderful North Jersey community of Somerset County. The laundromat has thirty-four (34) 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. This is a dependable safe business opportunity.

Listing Details

Revenue: $256,900

Cash Flow: $86,250

FFE: $209,998 (Included in Price)

Inventory: $500 (Included in Price)

Terms and Conditions?:

The business has been valued based on the multiple of the net yearly income, which includes all assets $450,000. Owner financing is also available to a qualified buyer.

Reason For Sale:

The purpose of this business transaction is due to the owner relocating retirement out of the state of New Jersey.

Training & Support:

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.

Location

Security on Lease: Two Months

Lease Option: Yes additional options.

Monthly Rent: $5500

Type of Location: Commercial Avenue

Square Footage: 3,000

Relocatable?: Yes

Facilities Information:

This wonderful laundromat facility which consist of approximately 4,000, 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.

Summary

Historical Summary:

For Qualifications purposes, this business opportunity industry does not require government licensing approval to purchase or operate other than the standard municipal licenses and state weights & measures.

Owner Qualifications:

For Qualifications purposes, this business opportunity industry does not require government licensing approval to purchase or operate other than the standard municipal licenses and state weights & measures.

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.

Potential Growth:

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/Terms:

Five year payout, interest to be agreed.

Ron Cervelli

contactus@regalconsultants.com

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