ONE MEGA LAUNDROMAT
Queens County, New York
Asking Price: |
Gross: |
Cash Flow: |
$1,200,000 |
Undisclosed |
Undisclosed |
Furniture and Fixtures Value:
$1,000,000 (included in the asking price)
Inventory Value:
$0 (included in the asking price)
Business Summary:
INCOME & SALES ARE PROJECTED: This is a NEW beautiful STATE OF THE ART & FULLY AUTOMATED (CARD SYSTEM) Mega Laundromat with GREAT GROWTH POTENTIAL! Owner currently does NO promotions or advertising. Great opportunity for an owner operator New warranty on all machines in place - 70 dryers, 59 washers Speed Queen 27 20lbs, 16 30lbs., 12 60lbs., 4 80lbs. Store has 2 street entrances from 2 separate avenues - both with parking store well maintained and on a continued growth path to surpass 2 year projections. W/F, Dry cleaning, & detergent already changed to projected figure. Large Laundromats have from their inception generally a minimum growth period of 3 years the aforementioned figures are based on a two year projection. Third year of operation sales top 15 to 20% increase from preceding year. 9 month figures gross volume increasing every week at present weekly gross $8,500 present net cash flow is $1,375 weekly. Compared to first week when opened. Over night customer count at start was 3 1st week now average 15 every night. Daytime traffic increasing weekly, at high rate. During two year growth period only major increase is in utilities up 50% from $145,860 to $218,790. Projections to gross income 9 months $447,000 to two year is a under estimated figure of $676,000 – 50% increase all of other major expense figures should remain constant. Present lease is for 18 years 2% increase per year – Landlord would give new buyer options for extensions on lease. Note of $600,000 is transferable to qualified buyer at 7 ½%. Owner has invested over $1,100,000 of his owner money in build out. Absentee owned and operated. For further information please contact Vito Mastromonaco at 908-851-9040 Ext. 285.
|
|
|
|
|
|
Year
Business was Established: 2011 |
|
|
Number of Employees:
4 |
|
|
|
Facilities / Terms of Lease:
4,000 sq. ft., great lease 18 years, 20 car parking. Options available new machines warranted four more years – all fixtures with in store 9 months. TVs chairs, tables, machines all in top shape |
|
|
|
Potential
Growth/Expansion:
As time goes on the neighborhoodcompeting smaller Laundromats will be closing down and this much larger and newer Laundromat with parking will pick up their demise |
|
|
|
Competition:
Within this area, there are a great many OLD Laundromats with bad equipment these are now being affected with all their gross revenues and patrons figures going down |
|
|
|
Owner
willing to finance:
$600,000 present note is assignable |
|
|
|
Owner
willing to train:
Two weeks |
|
|
|
Reason for selling:
Owner is downsizing. Owns a great many Super Laundromats |
|
|
|
REQUEST MORE INFO |
|
|