Buy a Business

Advert Ref: 3531vm

Passaic County 67 Machine Laundromat For Sale

Details: Asking price:$229,000; Sales revenue:$179,200; Net profit:$58,266; Fixtures value:$220,000; Inventory value:$600

Business description: Located in major city in Passaic County, this store thrives because of it's closeness to native population. Mostly low income Hispanic with larger families. Store located in mini mall has entrances with 67 machines 12-18 lb $2.25 -12 top loaders $2.00 / 7 solo $4.00 / 8-35 lb $3.25 - has 28 dryers. 12 parking spaces in mall plus ample street parking. Other equipment included change converter, vending machines, ice cream chest, coffee and cappuccino makers, gum machines, work tables, 3 19 in. tv's, does 19,000. Wash/fold has no pickup or delivery this part of business can easily be increased. Store is neatly laid out, store with main center at main entrance, behind counter as coffee and cappucciono maker, hot dog grill can be located here also. At rear are office and bahtroom. Hot water boilers (constant flow) located in 2,400 sq. ft basement. Any advertising or promotion can incrase customer count very easy.

General information: Years established:9; Employees: 3; Trading hours: 7 days 7am-10pm; Real Estate: Lease; Location:2700 sq ft store with 2400 sq ft basement located in mini mall. Very good 13 year lease. Very little increments, 67 machines - entrance has restaurant license.; Expansion potential:Full time owner/operator would be a position plus. At present no advertising promition on marketing any of which would add to bottom line. No pickup or delivery for wash/fold can easily double income if their function were performed. Present owner says customers always give desire to purchase hot dogs - Store probably could sell over 125 a day, plenty of room for rotating dog grill- has Restaurant license sells cappuccino and coffee also.; Competition / Market:In this specific area this is the big laundromat. Neighborhood mostly low income Hispanic with larger families. No store within area has array of equipment as this laundromat does; Support & training:2 weeks; Reasons for selling:owner has other business cannot control both; Financing available?owner wants all cash