Newark, NJ
Essex County

Asking Price: Annual Revenue:
$250,000 Not Disclosed

Miscellaneous: Non-classifiable

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Quick Facts

Asking Price: $250,000
Annual Revenue: Not Disclosed
Net Profit: Not Disclosed
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Not Disclosed
Year Established: Not Disclosed
Employees: Not Disclosed
BBN Listing #: 818964564
Broker Reference #: PASSAIC001-50941

Email or Print Listing

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Business Overview:

WaveMAX wavemax Description: WaveMAX is an absentee concept but keep in mind there is a 6 week process leading up to opening where the owner will be heavily involved WaveMAX has developed a system to change the way coin laundry locations are perceived and operated. The industry has primarily been made up of Mom and Pop operators who are taken advantage of by the washer and dryer Distributors whose sole purpose is to sell equipment to these non-business savvy operators. The industry has no brand, no business sophistication and massive turn over from operator to operator. These na?ve owners sign long term leases in buildings that are not the right fit for their businesses and over build the location with too much equipment and are saddled in debt financing. Hence the industry today is thriving for manufacturers as they continue to support this structure of over build in too large of spaces and then disappear once the equipment is sold. This results in too high of rent, too high of construction costs and too high of equipment financing that will not allow a net margin to justify the investment. WaveMAX's "Secret Sauce": As clich? as it is location, location, location is obviously number one. They have developed their own proprietary approach to discerning the best possible real estate play for their locations. It includes: Right Site (Understand Demographics and Competition in the area) + Right Size (Best size store based on Demographics and Competition) + Right Mix (Best mix of Equipment for the Site) = Maximum Profits (Keep all costs under control for maximum profits) Key Factors: Fantastic absentee business model Extremely low employee count A business that makes money when the franchisee is not around Not fast food Mature industry with no national brands Ideal Candidate: A business savvy owner who realizes that partnering in a fragmented industry and working with Franchise Start-up Pro Dennis Mulgannon who successfully launched Home Care Assistance, Junk King and The Flying Locksmiths into national franchise brands is a better decision than buying a Yogurt Shop?"My brands are not sexy but they cash flow and scale quickly". NOTE: A new franchisee is required to work the business for the first six weeks. Business Type: Retail B2B / B2C: B2B B2C

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Additional Details:

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

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