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Business for Sale Summary

Established Laundromat in Richmond County, NY - 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 in Richmond County, NY
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Financial Information (non-confidential)

General Information
Asking Price $549,000 Down Payment $449,000
Gross Revenues $310,000 Lease Remaining Register Free to View
Owner’s Cash Flow $160,000 Number of FT Employees Register Free to View

Financing

$449,000 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 had just one owner for the past 13 years. His landlord stands ready to give you a brand new 10 year lease, with a 5-year option, starting at just $3,600/month. There is 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 all ultra- efficient on energy and water. The washers consist of one 80 lbs. load Wascomat, three 60 lbs. ADCs, seven 45 lbs. ADCs, and nine 25 lbs. ADCs. The dryers are all 45 lbs.double-stacked ADCs. Wash and fold accounts for 60% of gross, and coin self-service, 40%. This is an all-cash business whose financial representations can be verified. You may be able to increase your sales by accepting credit cards and by promoting the availability of pick-up and delivery of wash & fold and drop-off dry cleaning. You can put more money in your pocket, should you choose to be more hands-on by 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 owner is asking less than 3.5 times what he profits and is willing to offer some seller financing. The equipment is almost brand new and the laundromat comes with a long lease and 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.

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. kg

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.