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Businesses For Sale   >>   Essex Businesses For Sale   

Laundromat & Lotto

Location  Essex County, New Jersey, United States
Asking Price Range  < $250K
Gross Revenues  $140000
Net Profit / Cash Flow  $67000
Cash Flow Type  EBITDA
Seller Finance  Yes
Year Established  1962
Number of Employees  1 - 3
Inventory  120000 Equipment Only
Relocatable  No
Number of Employees  1 - 3
Real Estate  Leased
Training  The seller will remain post closing for two weeks in order to supply a transitional period.
Reason for Sale  The seller has alternative business obligation.

Description  
Package sale which includes the Laundromat business with property, owner retiring from this solid business opportunity and profitable Laundromat with Lotto in a safe, active commercial area of Essex County, NJ. The business has a gross income of $155,000 and a net income of $67,000 after all expenses including debt service. The business has two employees who will remain with the business post closing. This city has a moratorium on any new Laundromats which will continue to limit any new competitors. The real estate has a value of $105,000 and the business has a value of three times the net yearly income. This is an excellent business opportunity that offers a consistent dependable income with the business and real estate. The sale includes, thirteen washers, eighteen dryers, and new boiler, counters, including various equipment required for this particular industry. The building has a legal capacity for 38 customers, 1,400 square feet, on one main floor with no basement. This retail business requires two employees who are unaware of the pending sale and are fully expected to remain post closing, monthly payroll is $2,350. This business location has private parking for two vehicles and substantial municipal parking nearby to the facility. The business is operational seven days weekly with hours from 7:30 am to 8:00 pm. The business has a municipal CO and New Jersey State Lotto approval. Based on the asking price, required down payment and net income this business should supply a 35% return to the owner operator prior to debt service.


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