Description

One year young ultra-modern three thousand (3,000) square foot commercial laundromat located in Bergen County, Northern New Jersey. This wonderful business opportunity consist of forty high capacity laundromats and forty new dryers. The business is new and requires time to further develop and presently has a solid income which continues to expand each week. 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 super investment return to the owner operator prior to debt service. This industry does not require government agency approval to operate. This newer retail laundromat facility which consist of 3,000 square feet has a clean modern appearance and is in a mid-size mall with various other active and successful businesses on a busy county road with easy access. This laundromat opportunity is located in Northern New Jersey, Bergen County, in a highly populated city which consists of various affluent communities with continued demand for this particular personal service industry. This particular business has two employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $3,284. The business has an assignable commercial lease which expires 2025-01-01 plus additional options, with a monthly rent of $6542 and rent security $12,600. The business facility which consists of 3,000 square feet has a capacity for approximately seventy five customers. The business assets have an estimated value of approximately $750,000 and the sale consists of a fully equipped commercial retail laundromat, which includes forty commercial Dryers & Laundromats, displays, shelving, POS system, tables, computers, software 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 seven days per week, with hours from 6:00 am to 10:00 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 a minimum of 30 days in order to supply an appropriate transitional period to the new operator. The owner has alternative businesses out of the immediate area. The business presently has a limited marketing plan, poor web site, must develop and improved wash and fold the customer base, and if improved can further develop the business net income. To the best of our knowledge due to various circumstances, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser. The 2015 yearly gross income is approximately $300,000 and the business expects to have a yearly net income of $65,000 based on an owner operator and prior to debt service. The business has been valued at $950,000 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, collateral and credit rating. 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 does Not represent this particular business opportunity.

Posted Oct 12, 2015

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