Laundromat for Sale in New York, NY - 34771

Financing

$200,000 Down and The seller may consider offering some financing to highly qualified buyers, but prefers all-down offers.

Business Description

Currently run absentee, the seller represents that, if an owner-operator took over, he could generate $85K in operating cash flow. Located in an ideal neighborhood for a laundromat, this one was completely refurbished & re-opened in 2021 and its sales & profits continue to grow. You will find 18 like-new Ipso washers and 14 Speed Queen double-stacked dryers comfortably spaced out over 875 square feet. Roughly, 57% of gross sales derive from wash & fold (pick up & delivery and drop off), 36% from coin-operated self-service, 6% from soap sales, and just 1% from dry cleaning, which should increase as people return to their offices. Your efforts, alongside those of 3 loyal part-time attendants, who altogether work 105 hours per week, should make a big difference in gross sales and profits. Run absentee as it has been, you might expect to start out making $30K in operating cash flow. The seller has kept excellent records that should check out, once you are in the due diligence phase. You can add another 10 or so machines to the basement, should you want to build up a commercial laundry business to go with the existing retail one. Kindly do not say anything to the employees and customers, about the business being for sale, as they are as yet unaware. Please email or call the listing broker, Jay Goldman, at jaygoldman@vestedbb.com or 917-912-3282 to make an appointment to speak with the seller.

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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.