Price: $350,000
Location: Somerset County, New Jersey
Industry: Laundromat
Listing ID: laun378
Modern attractive 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. The transaction can include a new long-term ten-year lease with a monthly rent of $4,500, rent security will be required. Property option to purchase.
Listing Details
Revenue: $235,600
Cash Flow: $77,099
FFE: $160,000 (Included in Price)
Inventory: $500 (Included in Price)
Reason For Sale:
Owner retiring
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.
Operation
Year Established: 1995
Days & Hours of Operation: This successful business operation is active seven days per week, with hours from 9:00 am to 10:00 pm.
Owner Hours Per Week: absentee
Employees: As an absentee owner, this laundromat will require two full time employees at a monthly cost of $3,276. The employees are unaware of the pending sale. The payroll is routinely based on an hourly minimum wage and the staff is fully expected to remain post-closing.
Absentee Owner?: Yes
Location
Security on Lease: Two Months
Lease Option: Yes, Available
Monthly Rent: 4,500
Type of Location: Commercial Avenue
Square Footage: 3000
Relocatable?: Yes
Facilities Information:
This wonderful laundromat facility which consist of approximately 3,000, 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
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.