New owner can replace lethargic present operator

Essex County , New Jersey

Business Summary: The main reason for lack of success at this Laundromat is lethargic owner. Not connected to present time does little wash/fold and drop because he knowingly doubles industry going rates. Plenty of room for improvement has space to put in second business (luncheonette, hotdog stand, convenience). Coin op 107 machines, 54 dryers, and various sizes including two 80 pound washers. Free standing spacious building with 19 parking spaces. Place is gorgeous however, management not connected to present time. Owner will guarantee machines to be in working order. Any buyer who operates and puts experience to increase volume will generate increase in profit to bring this entity to a net cash flow to approx. $150,000. Owner should know how to operate large Laundromat. For further information, please contact Thomas Mastromonaco at 908-851-9085 Ext. 271 or at 732-551-7295; email: [email protected]
Year Business was Established: 1983
Number of Employees: 2
Facilities / Terms of Lease: Large well kept facility with room to expand or add secondary business (convenience store, luncheonette, food mart). Ample parking on site and street parking. New owner was right to negotiate lease.
Potential Growth/Expansion: Yes. Anybody with commonsense and knowledge can increase business by twice as much.
Competition: This is largest Laundromat in area
Owner willing to finance: None
Owner willing to train: Owner will educate during due diligence period.
Reason for selling: Lack of interest, present owner 80 %