For Sale Semi Absentee

commercial laundry facility & retail coin laundromat for sale

7,000 sq ft in total

Union county

4,000 sq ft commercial side

Asking $4,000,000

2023 sales trend $2,387,997

2023 forecasted NET $1,038,279

located in major strip mall with plenty of parking

CALL DOUGLAS BODNER FOR MORE DETAILS 908-851-9040-X204

3,000 sq ft laundromat space

Breakdown of Sales by service

 Commercial and Retail Laundromat overview

 Commercial and Retail Laundromat located in Union county, NJ with a trending NET $1,000,000 (+/-) annually for 2023 with recurring income. Very diversified portfolio as there is retail coin operated laundromat on one side, and a commercial laundry facility on the other side servicing established hotels, restaurants, and wash and fold pick-up and delivery service. Lots of opportunities for growth on the revenue side (price increase is way overdue, very little marketing being done currently) as well as cost efficiencies (Buying a delivery truck as opposed to renting would add additional bottom line revenues)

income & expense

3 year Sales trend

ASKING A 4X TIMES MULTIPLIER

well run business with 25 employees

LETS BREAK IT DOWN

Commercial Hotel business:

7 days a week/365 days a year, we service hotels 

There are 2 drivers

There are 9 accounts of which the largest one is 25%

Average customer revenue is $2,778/week

There is1 contract with a broker that includes all of these hotels

Hotels are located all in NYC metro area (Manhattan, Brooklyn, Queens, North Jersey)

We have had these contracts for 7+ years

Hotels pay on 15-45 days

No software system

No tracking device

Park on street for NYC deliveries, parking lot for NJ hotels

Special chemicals are Citrix, 

No licensing or regulations

Services provided are wash and fold and press for sheets/pillowcases

No advertising or marketing, accounts are through a broker

commercial restaurant business:

12 Restaurants located in Philadelphia and NYC.

They pay via check (mail and drop off to driver) all on net 15-30 days with no A/R issues

Average per venue is $437/week

Service all restaurants twice/week, Mon/Thurs or Mon/Fri with 1 driver

Services that we are providing are wash and fold and press for some linens

Special chemicals needed are same as used for hotels

All accounts are under contract for 1 year and automatically renew

No account is more than 20% of overall sales

Residential pick up delivery:

Wash and fold delivery service that services Princeton - Linden (Central NJ) areas of NJ. There is a software that is fully used for all ordering/delivering optimization/tracking. All credit card based, so there is no cash and no A/R for residential customers and for commercial customers, most pay within 45 days, and there is rarely any that approach 90 days.443 unique customers since 2022 with an average ticket value of $40.73There is 1 driver who has over 5 years of experience and a couple backup drivers as well Purchase comes with a branded delivery van

Dry cleaning is outsourced to a dry cleaners along the route

FYI

Hotels: Pay on 15-45 Days after weekly invoice is sent after services are performed 

Coin Operated: All coins 

Restaurants: Pay on 30 days after services are performed. I send invoices with each drop off twice a week

Pickup & Drop Off: Residential customers pay via credit card before delivery. Commercial customers all pay on net 30 days after invoice is sent usually after each drop-off or bi-weekly

Take a tour of the laundromat 

long term lease available

option to relocate commercial facility

Breakdown of equipment

No matter what’s going on in the world — whether things are “normal” or we’re in the midst of a challenging period such as a economic recession or global pandemic—people will always need clean clothes. Because of this, people will always need access to laundromats and high-quality commercial laundry equipment. Therefore, laundromats are practically 100% recession and pandemic-proof.