Absentee Laundromat

Passaic County, New Jersey

Business Summary: LAUNDROMAT COMPLETELY ABSENTEE! Owner only goes to the Laundromat twice a week to collect the money. 34 washers/30 dryers, 15 years old. 15 years on the lease, all Speed Queen, free standing building, long lease, parking for 15 cars, A/C, vending/games, 22 carts, TV’s, folding tables, private office, security system, Wi-Fi & more. An owner/operator working a 50 hour work week can eliminate $500 of payroll per week, adding an additional $26,000 to the bottom line net profit. All equipment is in good working order & the Laundromat is well maintained. Breakdown of sales: washers 39%, dryers 22%, wash & fold 29%, detergent 7%, and vending/other 3%. Adjustments in the amount of $14,260 were made for a one time non-reoccurring expenses and sellers discretionary cost. For further information please contact Douglas Bodner at 908-851-9040 Ext. 204.
Year Business was Established: 1998
Facilities / Terms of Lease: Long lease, parking for 15 cars, free standing building, 64 machines. Laundromat is in great condition
Potential Growth/Expansion: Owner/operator could increase sales by pricing up some commercial accounts as well as do some advertising
Competition: There are other Laundromats in the area but they have always been in competition with each other - numbers are stable
Owner willing to finance: All cash
Owner willing to train: Seller will assist in training
Reason for selling: Looking to retire, owner is 65 years old