Absentee-Run Laundromat in Brooklyn - 26822

Financing

$480,000 Down and Make your best all down offer

Business Description

- This is a great opportunity for someone who is looking to acquire a totaly absentee-run laundromat with unrivaled sales/income on a sq ft basis. The current owner trusts his long time manager to empty out the coin boxes 3 times a week. She has been with him since he bought the laundromat 5 years ago and was with the previous owners for 10 years before that. - There are 3 other full-time employees and 3 part-timers. Between them, the store gets managed and the wash & fold from drop-off and pick-up & delivery gets done. - The landlord stands ready to give you a new 15 year lease starting at $5,750/month and escalating at just 3% for the first 10 years. - Revenues from self-service add up to about $13,500/month. Wash & fold from drop-off and pick-up & delivery contributes about the same. Figure another $50K/year from dry cleaning (done off-premises) with a 65% gross profit margin. And then throw in $10K from the sale of laundry detergent and such with a 50% gross profit. - Of the 19 Speed Queen washing machines, 8 clean 20-lbs. loads, another 8 hold 30-lbs., and 3 can do 40-lbs. There are 24 Dexter Stack Dryers. All of the machines have been in use for about 7 years and are serviced once/week under a maintenance contract. - If you intend to be more hands-on, you could cut back here and there on payroll and the maintenance contract to increase your profit. - To stimulate more business, your pick-up & delivery guys could simply start dropping off fliers and business cards in the the residential buildings nearby. You might want to pursue some commercial accounts like local restaurants and spas to clean their linens and towels. There is only one other laundromat in the area and plenty of business to go around. It's open 24/7 and yours could be, too. - Please become a premium member at www.vestedbb.com to receive the name and address of this Absentee-Run Laundromat in Brooklyn for a discreet visit as a customer, then email or call Senior Vested Business Broker Jay Goldman (jaygoldman@vestedbb.com or 1-646-670-1961) for an appointment to take a full tour and speak with the seller.

Attention Business Owners: We are always in search of quality businesses to list, so if you are thinking of selling your business or would like to acquire another business, please email us at listingmanager@vestedbb.com or call us at 1-877-735-5224 to discover the difference that is Vested Business Brokers.

Disclaimer: The financial information in this business listing has been provided by the Seller. Vested Business Brokers, Ltd. (VBB) has not independently verified this information. Therefore, we make no claims as to the accuracy of this financial summary. Vested recommends that you consult with an accountant, attorney and/or other professionals to represent and assist you in any business transaction. One of our associate brokers will arrange a meeting between you, your representatives, and the Seller, but they are not authorized to make any representations or warranties on behalf of the seller or VBB. You agree to hold Vested Business Brokers and its associated brokers harmless for any misrepresentations made by seller.