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Business for Sale Summary

Established Laundromat with All New Machines - 27965

Business Type: misc. retail/non-classifiable,dry cleaning/ laundry services,absentee business,best deals!,new to market,seller financing available,laundromats
Owner Financing
Established Laundromat with All New Machines
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This business has received 165 indications of interest - Act Quickly!

Financial Information (non-confidential)

General Information
Asking Price $599,000 Down Payment $499,000
Gross Revenues $297,000 Lease Remaining Register Free to View
Owner’s Cash Flow $155,500 Number of FT Employees Register Free to View

Financing

$499,000 Down and The seller will finance $100,000.00 at 6% over 24 months

Business Description

Established in 1978, this absentee-run Modernized, Clean, and Spacious Laundromat located in Staten Island has been owned by the same person for the last 13 years. The landlord stands ready to give you a brand new 10 year lease with a 5 year option starting at just $3,600/month for 1,500 square feet inside and a parking lot with 60 spaces. The 20 washers and 20 dryers are only about a year old and are Ultra-Efficient on Energy and Water. The washers consist of 1 - 80 lbs. load Wascomat, 3 - 60 lbs. ADCs, 7 - 45 lbs. ADCs, and 9 - 25 lbs. ADCs. The dryers are all 45 lbs. double-stacked ADCs. The state-of-the-art vending machine dispenses approximately $5K/yr. in soft drinks, detergents, and softeners. Wash & fold accounts for 60% of gross; 40% for coin self-service. This is an all cash business. You may be able to increase your sales by accepting credit cards and promoting the availability of pick-up & delivery and drop-off dry cleaning. You can put more money in your pocket should you choose to be more hands-on, thereby eliminating one or more employee salaries. Lastly, you would be well-advised to generally do more advertising, both traditional and social media, to draw more business to this location. It certainly can handle it! Please be prepared to make your best offer, as this one is going to move quickly, given the seller is only asking 4 times what he profits, the equipment is almost brand new, and the laundromat comes with a long lease & a very reasonable base rent. Do be very discreet when visiting the location, as the employees and customers do not know it is for sale. Kindly then contact listing broker Jay Goldman should you have any questions and would like to make an appointment to meet with the owner. Please call 1-877-735-5224 for further information.

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.