Business Summary:
INCOME & SALES ARE PROJECTED: This is a NEW beautiful STATE OF THE ART & FULLY AUTOMATED (CARD SYSTEM) Mega Laundromat with GREAT GROWTH POTENTIAL! Owner currently does NO promotions or advertising. Great opportunity for an owner operator New warranty on all machines in place - 70 dryers, 59 washers Speed Queen 27 20lbs, 16 30lbs., 12 60lbs., 4 80lbs. Store has 2 street entrances from 2 separate avenues - both with parking store well maintained and on a continued growth path to surpass 2 year projections. W/F, Dry cleaning, & detergent already changed to projected figure. Large Laundromats have from their inception generally a minimum growth period of 3 years the aforementioned figures are based on a two year projection. Third year of operation sales top 15 to 20% increase from preceding year. 9 month figures gross volume increasing every week at present weekly gross $8,500 present net cash flow is $1,375 weekly. Compared to first week when opened. Over night customer count at start was 3 1st week now average 15 every night. Daytime traffic increasing weekly, at high rate. During two year growth period only major increase is in utilities up 50% from $145,860 to $218,790. Projections to gross income 9 months $447,000 to two year is a under estimated figure of $676,000 – 50% increase all of other major expense figures should remain constant. Present lease is for 18 years 2% increase per year – Landlord would give new buyer options for extensions on lease. Note of $600,000 is transferable to qualified buyer at 7 ½%. Owner has invested over $1,100,000 of his owner money in build out. Absentee owned and operated. For further information please contact Vito Mastromonaco at 908-851-9040 Ext. 285.
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