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Business for Sale Summary

Laundromat and Drop-Off Dry Cleaners - 30713

Business Type: dry cleaning/ laundry services,absentee business,best deals!,new to market,seller financing available,laundromats
Laundromat and Drop-Off Dry Cleaners
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This business has received 146 indications of interest - Act Quickly!

Financial Information (non-confidential)

General Information
Asking Price $799,000 Down Payment $799,000
Gross Revenues $679,714 Lease Remaining Register Free to View
Owner’s Cash Flow $250,342 Number of FT Employees Register Free to View

Financing

$799,000 Down and Please make your best all down offer!

Business Description

This established, 1,200 sq. ft. absentee-run, coin-operated laundromat and drop-off dry cleaners is open 24/7. It is located in a safe upper-Manhattan neighborhood, and may now be purchased for just three times what the owner annually pockets. There are 11 years left on the lease, and the rent escalates at 3%, annually. The equipment is only four years old, and very well-maintained. It consists of 24 Huebcsh washers (one 60lbs., ten 30lbs. and ten 20lbs.) and 22 double-stacked Huebsch dryers. Coin self-service accounts for 46% of sales, wash and fold for 46%, drop-off dry cleaning for 5% and soap sales for 3%. Four F/T employees share wash and fold responsibilities and keep an eye on things for the owner. Should you decide to be more hands-on, you can make more money by saving on some payroll. It is rare to find a well-established laundromat like this in Manhattan, with 11 years left on the lease, and asking just three times what the owner pockets. 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 speak 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.