Established Laundromat: A Turnkey Business with Significant Growth Opportunities

Discover a prime investment opportunity in a bustling Brooklyn neighborhood. This long-established laundromat has been serving the local community for over a decade, offering a range of laundry services that cater to a diverse customer base. With a strategic location characterized by high foot traffic and convenient access, this business is perfectly positioned for continued success and growth.

Business Overview:

• Location: Situated in a high foot traffic area of Brooklyn, NY, with a dedicated parking lot for cars.
• Facility: Spacious 4,500 sq. ft. layout designed for customer convenience and efficient service delivery.
• Lease: Stable lease terms with 18 years remaining and modest annual rent increases of 3%.

Operations and Services:

• Comprehensive Service Offering: Provides self-service laundry, wash and fold, pickup and delivery, and dry cleaning services.
• Advanced Payment Systems: Utilizes card system for self-service for wash & fold and delivery services, ensuring streamlined operations and verified income.
• Employee Structure: Operated by 5 employees, including 3 attendants, 1 night shift worker, and 1 driver, supporting semi-absentee ownership.
• Equipment: Equipped with 127 machines, including 67 washers and 60 dryers comprising a mix of Speed Queen and Wascomat Gen 6 units.

Financial Performance:

• Gross Revenue: $909,000 annually
• Net Profit: $262,152, after accounting for expenses such as rent, utilities, payroll, and maintenance.

Growth Opportunities:

• Expand Commercial Services: Potential to increase revenue by expanding into commercial laundry services.
• Enhance Pickup and Delivery: Increase the scope of pickup and delivery services to capture a larger market share.

Owner Involvement:

• Semi-Absentee Role: The current owner maintains a semi-absentee role, visiting the site twice a week, which allows for flexible owner involvement.

Reason for Sale:

• Pursuing Other Ventures: The owner is selling to focus on other business interests.

This laundromat represents a rare opportunity to acquire a profitable, well-maintained business with a solid customer base and significant expansion potential. Whether you're looking to manage a hands-on operation or oversee as a semi-absentee owner, this laundromat offers flexibility, stability, and growth.