Business Summary:
This is a great opportunity to own a well-established (18yrs) Somerset County Franchised Learning Center with a 5 Star rating from the parents. Located on the main highway, it has easy in and out access with parking for the staff and drop-off and pickup. The well-maintained building is 7,000 sqft with a very efficient layout which allows a higher number of licensed students than other centers of comparable size. The center includes 8 classrooms plus an infants nap area, a full kitchen, in-room bathrooms, and 2 offices. Behind the center, there is a large, protected playground with two defined areas for younger and older children, all with a rubberized surface. The center is licensed for 147, ages 0 to 6 years. 139 were enrolled before state closings, and currently, there are 93 enrolled and growing. Services include Infants-Pre Kindergarten care, Kindergarten, Before & After Care, and Summer Camp which includes STEM learning. Meals are catered daily. The business has experienced profit growth over the last three years with 2019 an exceptional year. The rent was renegotiated in 2018 which resulted in a $45,000 rent reduction and will have a positive effect going forward. There are 2.5 years left on the current lease with one 5 year option. The owner works full time overseeing an excellent staff with low turnover, many of who are long-term and have college degrees. For daily management, there is a full-time Director and Asst Director. The financials are based on tax returns for the last three years and the cash flow assumes a full-time owner-operator. The owner has been dedicated to providing quality child care for many years and has now decided to retire. The owner will ensure a successful transition by providing two weeks of on-site training to assist the new owners.Business is offered at $950,000 with a $190,000 down payment and bank financing for the $760,000 balance. For further information, call broker Paul Holveck at 732-266-8136.
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