Modern Laundromat LAUN298

Price: $250,000

Location: Union County, New Jersey

Industry: Laundromat

Listing ID: LAUN298

Three year young, recently built laundromat business in an urban city of Union County, New Jersey. This is a fully self-service laundromat which atomically opens and closes and can be further improved with a new operator. This laundromat has new equipment, consists of fourteen (14) washers and eighteen (18) dryers. The company does not have any employees and does not offer wash & fold system.  This is a dependable safe business opportunity projected to further develop and based on the asking price, required down payment and yearly net income, this business has the opportunity to supply a consistent return on investment to the owner operator.

The business fixed assets has an estimated value of approximately $170,000 plus infrastructure, which is specifically based on the original equipment and licensing buildout and replacement cost. This transaction consists of a fully equipped commercial laundromat, which includes, Washing Machines Fourteen.

4 – 55 lb. washer, Continental RMG 55

4 – 40 lb. washer, Continental RMG040

6 – 20 lb. washer, Continental EH020

18 pockets Dryers

5 – 45 pound, Continental Express Dry, KTT45

4 – 30 pound, Continental Express Dry, KTT30

Listing Details

Revenue: $100,000

FFE: $170,000 (Included in Price)

Inventory: $750 (Included in Price)

Form of Ownership:

Corporate

Terms and Conditions?:

Owner Financing based on a five year term, 5.5% interest, monthly payments.

Reason For Sale:

Absentee owner, The purpose of this business transaction is due to the owner absenteeism and he is a real estate investor with this property.

Training & Support:

The owner is the landlord, out of state and absentee and is prepared to supply an appropriate transitional period to the new owner.

Operation

Year Established: 2017

Year of Last Acquisition: 2017

Days & Hours of Operation: This self-service laundromat business operation is active seven days per week, with hours from 8:00 am to 9:00 pm.

Owner Hours Per Week: Zero

Employees: This laundromat business has two part time employees who are unaware of the pending sale, responsible for the wash & fold and the monthly payroll is approximately $1,600.

Absentee Owner?: Yes

Location

Security on Lease: $5,500

Lease Option: Fifteen year lease.

Monthly Rent: $2,859

Type of Location: commercial

Square Footage: 1650

Relocatable?: Yes

Facilities Information:

This laundromat business opportunity is in Northern New Jersey, Essex County, which consists of numerous highly populated communities with continued demand for this laundry service. This modern laundromat company which consist of approximately 1,600 square feet with an attractive appearance is located on an active commercial avenue with other local businesses.

Summary

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 is new and will continue to develop and can be further expanded by the new operator with a marketing plan and local advertising to develop wash and fold. The business should also have a web site to improve the retail yearly gross sales.

Ron Cervelli

contactus@regalconsultants.com

Fill Out Our NDA

Contact Us About This Listing

  • This field is for validation purposes and should be left unchanged.