Business For Sale

Attractive Laundromat

Not Disclosed, NJ
Bergen County


Asking Price: Annual Revenue:
$215,000 $120,000

Services: Dry Cleaning & Laundry


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RE: Attractive Laundromat Broker: Ron Cervelli
Owner Financing is Available!
Seller financing can be considered to qualified buyer.

Quick Facts

Asking Price: $215,000
Annual Revenue: $120,000
Net Profit: Not Disclosed
Cash Flow: $42,000
Total Debt: Not Disclosed
FF&E: $170,000
Real Estate: Not Disclosed
Year Established: 1994
Employees: Not Disclosed
BBN Listing #: 51213909
Broker Reference #: LAUN270

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Business Overview:

Best location for this wonderful and profitable business opportunity located in an affluent area of Bergen County, Fort Lee, northern New Jersey. This is a full self-service laundromat which atomically opens and closes its doors based on an auto lock system. The company does not have any employees and does not presently offer wash & fold system. The equipment has been upgraded, in excellent condition and is approximately ten years young. This is a dependable safe 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 to the owner operator. For Qualifications purposes, this business opportunity industry does not require government licensing approval to purchase or operate other than the standard required municipal licenses. This laundromat business opportunity is in Northern New Jersey, Bergen County, which consists of various affluent and highly populated communities with continued demand for this personal cleaning service. This is a long-standing retail company which consist of approximately 1,500 square feet with a clean appearance, located on an active commercial avenue with many other local and active businesses. Regarding employees and payroll, this laundromat business does not have employees and does not offer a wash and fold service. The business transaction has an assignable commercial lease which expires 2026-01-01, plus additional options available, with a monthly rent of $3,600, cost per square foot is estimated at $28.80, and rent security of approximately $8,700. This laundromat business opportunity is in a commercial facility, on an active county road, consists of approximately 1,500, square feet and has an estimated capacity for forty-five customers. The business fixed assets has an estimated value of approximately $170,000 which is specifically based on the original equipment and licensing buildout and replacement cost. This transaction consists of a fully equipped commercial laundromat, which includes, twenty-three (23) washers, twenty (20) dryers, required licenses, displays, shelving, tables, shelving, 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 business does not have a web site, social media venues, POS system, computers or software. The facility has appropriate municipal parking near to the business location. This successful laundromat business operation is active seven days per week, with hours from 6:00 am to 10:00 pm. The sale includes all required documentation including a certificate of occupancy from the local municipality and the required state-city licenses to conduct its daily business. The owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator. The purpose of this business transaction is due to the owner retirement after many years of ownership. The business can be further expanded by the new operator, with additional services, specifically wash and fold service. The laundromat presently has a limited marketing plan, no local advertising or web site and if improved can further develop the business yearly gross sales. Regarding competition, 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. The 2017 yearly gross income represented by the seller owner is $120,000 and the business has a yearly net income of approximately $42,000 based on an onsite owner operator and prior to any debt service. Also, due to the possibility of non-disclosed income, a formal due diligence is recommended by the purchaser. The business has been valued / priced at $215,000 which is based on a multiple of the net yearly income including the value of the specific business assets. Also, possible seller / bank financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. The company routinely has approximately $1,000 of marketable inventory and the purchaser will be responsible for that cost at time of closing, based on wholesale value. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and the photo does Not represent this particular business opportunity.

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Property Features and Assets:

This laundromat business opportunity is in Northern New Jersey, Bergen County, which consists of various affluent and highly populated communities with continued demand for this personal cleaning service. This is a long-standing retail company which consist of approximately 1,500 square feet with a clean appearance, located on an active commercial avenue with many other local and active businesses.

Market Competition and Expansion:

Regarding competition, 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. The business can be further expanded by the new operator, with additional services, specifically wash and fold service. The laundromat presently has a limited marketing plan, no local advertising or web site and if improved can further develop the business yearly gross sales.

Reason for Selling:

The owner is retiring after many successful years.

Additional Details:

  • The property is leased.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

Documents:

Relevant Links:

Disclaimer:

The information has been supplied by the Seller. BBN has not verified any of the information provided in this listing. Any agreement or decision by a buyer to pursue a transaction of this listing should be based on further investigation and due diligence. BBN expressly disclaims any and all liability resulting from the sale of this business. For full disclosure please read BBN's full Legal Disclaimer.


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