Description

This is a great opportunity for someone who is looking to acquire a totally absentee-run laundromat and clear at least $120,000/year. The current owner trusts his manager to empty the coin boxes. She has been with him since he bought the laundromat 5 years ago and was with the previous owners for 10 years before that. There are 3 other full-time employees and 3 part-timers. Between them, the store gets managed and the wash & fold and pick-ups and deliveries get done. The landlord stands ready to give you a new 15 year lease. Revenues from self-service add up to about $160K/year. Wash & fold from drop-off and pick-up & delivery contributes another $160K/year (that's net of the coins used to do it). Figure another $50K/year from dry cleaning (done off-premises) with a 65% gross profit margin. And then throw in $10K from the sale of laundry detergent and such with a 50% gross profit. Of the 19 Speed Queen washing machines, 8 clean 20 lbs. loads, another 8 hold 30 lbs., and 3 can do 40 lbs. There are 24 Dexter Stack Dryers. All of the machines have been in use for about 7 years and are serviced once/week under a maintenance contract. Should you want to increase your profits and are willing to be more hands-on, you could cut back here and there on payroll and the maintenance contract. To stimulate more business, your pick-up & delivery guys could drop off fliers and business cards in the the nearby densely populated buildings. There is only one other laundromat in the area and plenty of business to go around. Please refer to the Confidentiality Agreement below for further information or please call 1-877-735-5224.

Financial Summary

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