Business Overview

Long-established and top-of-the-line laundromat in PRIME location that comes with other businesses ATM, quarter pusher games, and merchandise sales.

Wonderful CASH business with huge potential for growth.

Operates with 24 industrial washers and 30 industrial dryers in a 4500 sq foot facility and includes subcontracted wash and fold company agreement. Automated door open and closure with timer. Can be run semi-absentee (owner works 2 days/week).

Opportunity to add in-house wash & fold with 50+ commercial contracts (restaurants, dog groomers, mechanical businesses, etc) with pickup and delivery.

Financial

  • Asking Price: $299,900
  • Cash Flow: $90,000
  • Gross Revenue: $1,100,000
  • EBITDA: N/A
  • FF&E: $199,000
  • Inventory: N/A
  • Inventory Included: N/A
  • Established: 1987

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:4,500
  • Lot Size:N/A
  • Total Number of Employees:1
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

4500 sq ft space, with wash and fold sublease. Located in busy shopping center with anchor tenants (Dollar General - #1 in CT), near Bank of America, library, & church. 25 washers, 30 dryers, display cases, store built behind store for sublease, merchandise for sale. 1 ATM machines doing $1800/month profit. Commercial Keurig Machine with 50 options for coffee to use. $10,000 alarm security system with 3 different zones/keypads and 3 different alarms. Fourteen (14) cameras.

Is Support & Training Included:

3 to 4 weeks transfer.

Purpose For Selling:

Focus on other interests.

Pros and Cons:

Nearest laundromats are 5 miles to the south and 5 miles to north. Tons of rentals in the area.

Opportunities and Growth:

Opportunity to add in-house wash & fold with 50+ commercial contracts (restaurants, dog places, mechanical places). Sell laundry bags.

Additional Info

The company was founded in 1987, making the business 35 years old.

The company has 1 employees and is situated in a building with disclosed square footage of 4,500 sq ft.
The property is leased by the company for $4,657 per Month

Why is the Current Owner Selling The Business?

There are all sorts of reasons individuals choose to sell companies. Nonetheless, the genuine factor and the one they say to you might be 2 entirely different things. For instance, they might claim "I have too many other obligations" or "I am retiring". For numerous sellers, these reasons stand. However, for some, these might simply be justifications to try to hide the reality of changing demographics, increased competition, recent reduction in revenues, or a variety of other reasons. This is why it is extremely vital that you not rely completely on a seller's word, but rather, use the seller's solution along with your total due diligence. This will repaint a more reasonable picture of the business's current circumstance.

Existing Debts and Future Obligations

If the existing business is in debt, which lots of companies are, then you will certainly have reason to consider this when valuating/preparing your offer. Numerous businesses finance loans so as to cover things such as inventory, payroll, accounts payable, and so on. Keep in mind that occasionally this can imply that profit margins are too tight. Lots of businesses fall into a revolving door of taking loans as a way to pay back other loans. Along with debts, there may likewise be future commitments to consider. There might be an outstanding lease on tools or the building where the business resides. The business might have existing contracts with suppliers that should be fulfilled or may result in penalties if terminated early.

Understanding the Customer Base, Competition and Area Demographics

How do businesses in the area draw in new clients? Most times, companies have repeat consumers, which develop the core of their day-to-day profits. Particular variables such as new competition growing up around the location, roadway building and construction, as well as employee turnover can impact repeat customers and also negatively affect future incomes. One vital point to consider is the location of the business. Is it in a highly trafficked shopping center, or is it hidden from the main road? Clearly, the more individuals that see the business regularly, the greater the chance to construct a returning client base. A final thought is the general location demographics. Is the business placed in a largely inhabited city, or is it situated on the outskirts of town? Exactly how might the neighborhood typical household earnings effect future revenue potential?