Established Laundromat in Passaic County, NJ - 31531

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Asking Price:
$725,000

Gross Revenue:
$195,000
Cash Flow:
$100,000
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$2,000
not included in asking price

FF&E:
$800,000
included in asking price

Real Estate:
 Not Disclosed

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Business Description

This Laundromat was completely renovated in 2017 for a cost of $1.2 million into a state of the art card-operated laundromat- 38 washers, 38 dryers and two $35,000 cash to card converters- all new. In late 2017 the landlord reopened this business and sales initially reached $800 per week climbing thereafter to $1,200, $1500, $1,700 and now to $3,250 per week. Wash and Fold business nonexistent at first now approaches $500 per week and is beginning its ascent. The business is now run totally absentee. No advertising of any kind to either apartment house dwellers or to commercial accounts and there is so much of that available in this densely populated urban setting. Nor are there any of the accoutrements often found in laundromats that build extra income and traffic such as sodas, snacks, cigarettes, lottery or atm. The landlord has no time to run this business and wishes to sell. Price and terms are flexible. Seller financing is possible to a qualified buyer.

About the Business

Number of Employees:
3
Website:
www.vestedbb.com
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About the Sale

Training/Support:
Yes

Listing Info

ID:
1554106
Ad Detail Views:
117

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Business Listed by

Vested Business Brokers, Ltd

Vested Business Brokers, Ltd

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U.S. Census Data for Passaic County, NJ
Age

Gender

Ethnicity

Source: Decennial Census (2010), United States Census Bureau.

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.

U.S. Community Survey Data for Passaic County, NJ
Income

Education

Source: American Community Survey (2010-2014), United States Census Bureau.

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.


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