Laundromat Owner Finance. laun385

Price: $195,000

Location: Bergen County, New Jersey

Industry: Laundromat

Listing ID: laun385

Profitable modern commercial laundromat located in a highly active community of Northern New Jersey and in the affluent highly populated county of Bergen. The laundromat consists of sixteen newer (16) washers and twenty-eight (28) newer dryers, offers a percentage of wash & fold service, vending. The business represents 40% wash & fold and 60%-coin income. This is a dependable 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 with substantial growth potential to the owner operator prior to debt service. The equipment ranges from two to six years young and much of it has been recently upgraded including the interior. The yearly gross income is $125,000 and the business will have a consistent yearly net income of $40,000 to $50,000 based on an onsite owner operator and prior to any debt service. The 2024 gross income is expected to further increase based on an improved marketing system. The business has been valued at $175,000 based on a multiple of the net yearly income which includes the business assets. $50,000 assumable loan at 5% three-year term, with $125,000 down to a qualified buyer.

Listing Details

Revenue: $175,000

Cash Flow: $55,000

FFE: $175,000 (Included in Price)

Inventory: $500 (Included in Price)

Reason For Sale:

The sale is due to the present owner’s alternative business responsibility which is a noncompetitive company and out of the general area.

Training & Support:

The owner will remain post-closing in order to supply an appropriate transitional period to the new owner / operator.

Operation

Year Established: 2021

Days & Hours of Operation: This successful laundromat business operation is active seven days per week, with hours from 7:00 am to 8:00 pm.

Owner Hours Per Week: Part time

Employees: This company has two employees who are unaware of the pending sale and fully expected to remain post-closing, and the monthly payroll is approximately $2,600.

Location

Security on Lease: 5,000

Lease Option: Yes, Available

Monthly Rent: 3,702

Type of Location: Commercial Avenue

Square Footage: 1,450

Relocatable?: Yes

Facilities Information:

This retail business opportunity is in Northern New Jersey, Bergen County, which consists of various highly populated communities with continued demand for this personal service. This retail facility, which consists of approximately 1,430 square feet, with a customer capacity of forty and has a clean modern and attractive appearance. The business is located on a very convenient county road on a commercial avenue with various other active and successful businesses.

Summary

Owner Qualifications:

This industry does not require government licensing approval to purchase or operate. other than the standard required municipal licenses.

Competition:

Competitors presently exist in the industry, however 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:

Competitors presently exist in the industry, however 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.

Financing/Terms:

The business has been valued at $175,000 based on a multiple of the net yearly income which includes the business assets. $50,000 assumable loan at 5% three-year term, with $125,000 down to a qualified buyer.

Ron Cervelli

contactus@regalconsultants.com

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