Listing ID: 82618
The Laundromat was established in 1993 and is adjacent to I-90, coin-operated and staffed by two employees. The nearest competing laundromats are 13 and 22 miles away. The sale includes all furniture, fixtures and equipment.
- Asking Price: $150,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 1993
- Property Owned or Leased:Own
- Property Included:Yes
- Building Square Footage:1,440
- Lot Size:N/A
- Total Number of Employees:2
- Furniture, Fixtures and Equipment:N/A
The company was founded in 1993, making the business 29 years old.
The business has 2 employees and is located in a building with approx. square footage of 1,440 sq ft.
Why is the Current Owner Selling The Business?
There are all sorts of reasons individuals choose to sell operating businesses. Nonetheless, the genuine reason vs the one they say to you may be 2 totally different things. As an example, they may state "I have a lot of various responsibilities" or "I am retiring". For lots of sellers, these factors are valid. However, for some, these might simply be justifications to try to conceal the reality of changing demographics, increased competition, recent decrease in revenues, or a variety of various other factors. This is why it is extremely vital that you not count entirely on a vendor's word, yet instead, use the seller's answer together with your overall due diligence. This will repaint a more realistic picture of the business's existing scenario.
Existing Debts and Future Obligations
If the existing company is in debt, which numerous companies are, then you will certainly need to consider this when valuating/preparing your deal. Numerous companies borrow money so as to cover things like inventory, payroll, accounts payable, and so on. Keep in mind that in some cases this can imply that profit margins are too small. Lots of businesses fall into a revolving door of taking loans as a way to pay back various other loans. In addition to debts, there may additionally be future obligations to take into consideration. There might be an outstanding lease on tools or the building where the business resides. The business may have existing agreements with vendors that should be satisfied or may lead to charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do businesses in the location attract new customers? Most times, companies have repeat clients, which create the core of their day-to-day profits. Certain elements such as new competition sprouting up around the area, road building and construction, as well as employee turnover can impact repeat clients and also negatively impact future profits. One crucial thing to think about is the area of the business. Is it in an extremely trafficked shopping mall, or is it concealed from the highway? Obviously, the more individuals that see the business on a regular basis, the better the possibility to develop a returning customer base. A final idea is the general area demographics. Is the business placed in a largely populated city, or is it located on the edge of town? How might the neighborhood median family income effect future revenue potential?