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Businesses For Sale   >>   Absentee Businesses For Sale   

New Laundromat

Location  New Jersey,United States
Asking Price Range  < $250K
Gross Revenues  $151000
Net Profit / Cash Flow  $62000
Cash Flow Type  EBITDA
Seller Finance  Yes
Year Established  2013
Number of Employees  1 - 3
Inventory  140000 Equipment & 1200 Inventory
Relocatable  No
Number of Employees  1 - 3
Real Estate  Leased
Training  The owner will remain post-closing for 30 days in order to supply a transitional period.
Reason for Sale  The owner has an alternative business,out of the area and cannot maintain.

Description  
Fully upgraded Laundromat in a highly commercial area of Passaic County, New Jersey. This modern facility is 1,500 hundred square feet with a clean and attractive image. The shop consist of seventeen washers and sixteen dryers, all equipment has been fully refurbished and in excellent working condition. The business offers wash and fold service which can be further developed with a marketing plan. The owner is consistently absentee and involved in an alternative business out of the immediate area and cannot maintain this business opportunity. This particular business has two employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $2,000. The business has an assignable commercial lease which expires 2023-01-01 plus additional options, with a monthly rent of $2,500 and rent security $2,500. This retail business facility which consists of 1,500 square feet has a capacity for approximately twenty five customers. The sale includes a fully equipped retail store with upgraded equipment, seventeen washers and sixteen dryers, change machine, carts, displays, shelving, tables, including all the necessary equipment required to maintain the day to day business operation. The facility has appropriate municipal parking nearby to the business. The business is active seven days per week, with hours 24 hours per day. The sale includes a certificate of occupancy from the particular municipality to conduct business and the required license approval from the city. The owner will consider financing with an appropriate down payment and to a qualified buyer. This is a solid business opportunity and based on the asking price, required down payment and yearly net income, this business expect to supply a 29% investment return to the owner operator.


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