Profitable & Established NYC Laundromat for Sale - 34654

Financing

$360,000 Down and Some seller financing may be considered for qualified purchasers.

Business Description

As we emerge from the pandemic, this Laundromat has the potential to become way more profitable. While self-service kept up most of its strength, wash & fold decreased some, and dry cleaning came down a lot. When they rebound, look out! On the left side of the 1,700 sq. ft. space, you will find 22 like-new three year old Electrolux ultra-efficient washing machines. On the right, 22 middle-aged Dexter double-stacked dryers. Maintenance & repairs average just $200/month. Two employees take shifts covering the store hours, which are from 8am-8pm. Pre-pandemic, store hours were from 7am-10pm. You might want to go back to longer hours after you take over. The $75K in cash flow advertised here assumes, among other things, that you will replace one of the two employees. Currently, there is no advertising being done for this laundromat. You would be well-advised to do some, whether it be traditional handing out flyers or utilizing social media. Adding a pick-up & delivery option might be a good idea, too! I should mention that there is capacity to in-source commercial laundry from the likes of pick-up & delivery apps that need to out-source. Located in an ideal neighborhood for a NYC laundromat, it should be a breeze to ramp this baby up. A little love & attention will go a long way here. The landlord is the absentee-owner. He has bigger fish to fry. However, he stands ready to give you a new 12 year lease for just $5,200/month. All reasonable offers will be considered! Please email the listing broker, Jay Goldman, at jaygoldman@vestedbb.com to make an appointment to speak with the seller. If you are new to Vested, kindly become a free registered buyer under listing 34654 at www.vestedbb.com. In order to obtain the name & address of the business right away, upgrade to premium membership instead.

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.