Description

Excellent business opportunity for this highly profitable laundromat located in an affluent city of Essex County, New Jersey. The business has a yearly gross income of $294,000 and a net income of $88,000. The laundromat is conveniently located in a commercial mall with various other successful businesses. This successful business represents 80% of its income is wash & fold with a highly active five day pickup and delivery service. The business offers Organic Dry Cleaning, Laundering shirts and Wash & Fold Laundry Services, they clean comforters, tablecloths, linens, blankets, drapes, suede, leather, area rugs and most anything you can think of. They offer many services including alterations, retail product sales and will gladly recycle your hangers. This laundromat business has one employees who is unaware of the pending sale and fully expected to remain post-closing, monthly payroll $5,000. The business opportunity will offer a new ten year commercial lease which expires 2025-01-01 plus additional options, with a monthly rent of $6,286 and rent security $10,000. The business is conveniently located in a commercial mall which consists of 2,000 square feet and has a capacity for approximately fifty customers. The sale includes a fully equipped commercial laundromat retail store, which consists of 25 washers, 25 dryers, shelving, accounting system, tables, including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to purchaser upon request.The facility has appropriate private mall parking on site as part of the commercial lease. The business is active six days, closed Sunday, with hours from 8:00 am to 8:00 pm. The sale includes a certificate of occupancy from the particular municipality and the required city licenses to conduct its day to day business. The owner will remain post-closing for 30 days and supply a transitional period.This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expect to supply a 39% investment return to the owner operator prior to debt service. The 2014 yearly gross income is $294,000 and the business has a yearly net income of $88,000 based on an owner operator and prior to debt service. The business has been valued at $199,000 based on a multiple of the net yearly income and the value of the specific business assets and seller financing has been approved to a qualified buyer with an appropriate down payment. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo may not represent this particular business.

Financial Summary

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