Coin Laundromat

Union County, New Jersey

Business Summary: Absentee laundromat recently completely renovated, renovation finished February 2019 After just a few months they’re already doing over 25k a month. This laundromat is located in a very Affluent town and there is huge upside for wash & fold as well as adding a pick up and delivery service. 28 dryers 25 washers all manufactured by huebsch. Numbers are increasing every month store can conservatively do 25k-30K a month once fully established numbers on pnl reflect a projection based on the last 6 months of actual figures. 22 year lease 41% self-service 48% wash n fold & dry cleaning/vending 11%. Seller financing available. New AC unit installed Oct 2019
Year Business was Established: 20
Number of Employees: 2ft/1pt
Facilities / Terms of Lease: Plenty of parking, 24 year lease, 20 washers brand new, 8 stack dryers, and 1 washer is 10yr old.
Potential Growth/Expansion: Very affluent area huge potential to grow wash & fold business
Competition: Very little competition area
Owner willing to train: Seller will stay on to train new buyer
Reason for selling: Seller looking to relocate near his home.