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#Business ID: 20338

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New owner Can Replace Lethargic Present Operator

Business Location: Essex, New Jersey, United States

Asking Price: $ 255,000 Revenue: $ 265,000 Cash Flow: $ 69,000

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 approximately $1,50,000. Owner should know how to operate large Laundromat.

For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.

Additional Details:

The property is owned.
This is not a home based business opportunity.
This is not a franchise resale opportunity.

Property Details

Years Established:

1983

Property Type:

Lease

Other Business Details

Premise Details:

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.

Competition:

This is largest Laundromat in area; Yes. Anybody with commonsense and knowledge can increase business by twice as much.

Business Operation Details

Employees:

2

Support & Training:

The owner is willing to train/ assist the new owner.

Miscellaneous Details

Reason For Selling:

Lack of interest, present owner 80 %.

Contact this seller

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