LAUNDROMAT

Price: $275,000

Location: Middlesex County, New Jersey USA

Industry: Laundromat

Listing ID: LAUN322

Best location for this profitable laundromat located on an active commercial avenue in Middlesex 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. This is a very well-maintained laundromat that is open 24 hours a day and is surrounded by large apartments. The town’s population has only grown in the last few and we continue to encounter new customers on a daily basis. The business is well established and has been operating at this convenient location for over 50 years. 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. The 2019 yearly gross income represented by the seller owner is $167,000 and the business has a yearly net income of approximately $62,600 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 increased from the previous year. The owner has a new POS system which can document the gross income for the due diligence is recommended.

 

Listing Details

Revenue: $165,000

Cash Flow: $62,000

FFE: $150,000 (Included in Price)

Inventory: $500 (Included in Price)

Form of Ownership:

C Corp

Terms and Conditions?:

The business has been valued / priced $275,000 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’s retirement.

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: 1995

Year of Last Acquisition: 2010

Days & Hours of Operation: Days Hours of operation, this laundromat business is active seven days per week, with hours from 7:00 am to 10:00 pm.

Owner Hours Per Week: 25 hours

Employees: Regarding employees and payroll, this laundromat is maintained by owner and his family.

Location

Security on Lease: Five years

Lease Option: Lease Terms: 15 years plus two 5-year options. Rent ($2827/month all in) increases by 5% every 4 years.

Monthly Rent: $2827

Type of Location: Commercial

Square Footage: 1700

Relocatable?: Yes

Facilities Information:

This laundromat consists of approximately 1,700 squares in a commercial mall on a local avenue with other active businesses. This opportunity is in Northern New Jersey, Middlesex County, and the general area consists of highly populated communities with continued demand for this personal service.

Ron Cervelli

contactus@regalconsultants.com

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