Passaic Mall Laundromat For Sale

Business description

Mainly absentee Laundromat located in Passaic. 28 dryers (25lbs) All Wascomats 28 washers (16-18lbs) (8-35lbs) (4-50lb). Does $42,000 a year in wash and fold. Has all basic needs T.V., chairs, tables, vending machines and attendants. Store is spotless and well kept completely ceramic tiled Laundromat also has soup dispensing and 2 change machines. Mall has over 20 car parking. Repeat business at this Laundromat in practically insured as patrons are familiar with attendants on first name bases if owner were to stay. Has some approaches to increase volume very easily prices have not been increased in several years and at present are lowest prices in area. This Laundromat has the lowest price in Passaic and can easily be changed upwards with out any downfall in business. For a buyer Laundromat would give absentee owner a good return on investment over 35% - Better than money market or stock market – Original sale price would remain at present value or more if business is increased.

Other information

Expansion potential:

Owner has concepts to increase business and would implement them if they stayed.

Competition / Market:

Another Laundromat in area (bigger) however this one is busier and price of machines is much lower.

Support & training:

Two weeks

Reasons for selling:

Owner is not well selling second business also.

Trading hours:

Mon-Fri 7am-11pm; Sat/Sun 5am-6pm

Financing available:

Owner desires all cash offer.

Furniture / Fixtures value:

$150,000 (included in the asking price)

Inventory / Stock value:

$300