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Business for Sale Summary

Laundromat - Self-Service/Wash & Fold - 30645

Business Type: dry cleaning/ laundry services,absentee business,best deals!,new to market,laundromats
Laundromat - Self-Service/Wash & Fold
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This business has received 172 indications of interest - Act Quickly!

Financial Information (non-confidential)

General Information
Asking Price $249,000 Down Payment $249,000
Gross Revenues $208,000 Lease Remaining Register Free to View
Owner’s Cash Flow $71,405 Number of FT Employees Register Free to View

Financing

$249,000 Down and Please make your best all down offer!

Business Description

A more hands-on owner could dramatically increase the gross and net of this semi absentee run laundromat, The current owner is spread too thin between his many business interests. The dry cleaners next door just went out of business, and his laundromat is already picking up drop-off wash and fold sales from that store's former customers. It would be ideal to add drop-off dry cleaning, as an addition to the services currently offered here. As it is, 50% of sales are from wash and fold, 25% from coin self-service, and another 25% from a handful of accounts, such as spas, gyms and salons, which the seller assures will continue on with a new owner. Twelve new double-stacked Dexter dryers were installed just four years ago, and are now fully paid off. For washers, you will find two Wascomat Super Load machines, five Wascomat Super Junior W105 Double Loader Plus, and nine Wascomat Junior W75 Double Loaders- all in good working order. The landlord stands ready to extend the lease to at least 10 years. The base rent is only $4,100/month, which is extremely below-market in a neighborhood like this one.The laundromat has been around for 45 years, and the current owner has had it for almost eight. He works maybe seven hours per week. You would be well-advised to add pick up and delivery, as a customer service option, in this affluent neighborhood. Do be very discreet when visiting this location, as the employees and customers do not know it is for sale. Then, kindly contact listing broker Jay Goldman, should you have any questions and would like to make an appointment to speak with the owner. Please call 1-877-735-5224 for further information.

Attention Business Owners: We are always in search of quality businesses to list, so if you are thinking of selling your business or would like to acquire another business, please email us at listingmanager@vestedbb.com or call us at 1-877-735-5224 to discover the difference that is Vested Business Brokers. kg

Disclaimer: The financial information in this business listing has been provided by the Seller. Vested Business Brokers, Ltd. (VBB) has not independently verified this information. Therefore, we make no claims as to the accuracy of this financial summary. Vested recommends that you consult with an accountant, attorney and/or other professionals to represent and assist you in any business transaction. One of our associate brokers will arrange a meeting between you, your representatives, and the Seller, but they are not authorized to make any representations or warranties on behalf of the seller or VBB. You agree to hold Vested Business Brokers and its associated brokers harmless for any misrepresentations made by seller.