Multi-store self serve laundry chain for sale

Martinsburg, WV (Berkeley County)

Multi-store self serve laundry chain for sale

Asking Price:$1,150,000

Cash Flow:$334,000

Gross Revenue:$1,000,000

EBITDA:$169,400

FF&E:$1,190,000

Inventory:N/A

Lease Rate/Sq. Ft.:N/A

Established:1995

Multi-store self serve laundry chain for sale

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Business Description

Whale of a Wash is an established chain of 10 self service laundromats located in the fast growing Eastern Panhandle of West Virginia. All locations are within one hour drive of the flagship store/office in Martinsburg. This is a turnkey opportunity. Seller has 40 years of experience in the coin operated laundry business. He personally selected the signature layout, color and lighting for each of the stores. This enables Whale of a Wash to reliably meet its mission statement: "To provide our self service laundromat customers with a clean and tidy facility with modern energy saving equipment maintained in proper working condition 365 days a year". Whale of a Wash was voted the the "Best Laundromat" in the region by the readers of the Martinsburg Journal for 9 consecutive years from 2008 to 2016.

Detailed Information

Real Estate:
Leased
Building SF:
N/A
Lease Expiration:
N/A
Employees:
2
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
10 Locations; 221 Washers; 82 Dryers; 10 Water Heaters; 12 Soap Vending Machines; 12 Change Machines; 10 Security Camera Systems, 8 On Line Each laundry has a mix of washer sizes from 15 lb top load to 80 lb front load All equipment is coin operated. Large capacity washers (>60 lb) and dryers (>45 lb) are DCO (dollar coin optional) Change machines are Standard E600 printer capable acceptors, high capacity hoppers Soda, snack machines: 8 total Rent range: $7- $16 per square foot Store size 1200-2200 square feet.. Age of equipment: 1 - 15 years
Competition:
Nine of the locations are within high traffic (>9000 cpd) neighborhood shopping centers with a national brand core tenancy. Length of lease term: 4-10 years, several with options to extend Rural town locations population size: 2000 to 35,000 Market base industry employers: Charles Town Races and Slots, Proctor and Gamble, Macy's, IRS, Homeland Security National Training Center, Shepherd University Distance to nearest competitor: 3-15 miles typical
Growth & Expansion:
Drop off service can be added for increased revenue at several of the laundries. Winchester, Virginia and Hagerstown, Maryland are within 30 miles of Martinsburg and afford excellent growth opportunity. Proctor and Gamble is constructing a large manufacturing facility to employ up to 7000 people just south of Martinsburg. Main office is 5 minutes from I-81, 15 minutes from I-70. Utilities all discharge to the Chesapeake Bay watershed means higher sewer rates here.
Support & Training:
All locations are unattended. Two factory trained service technicians are employed to be on duty/on call 7 days a week. A custodial individual is employed to clean each laundry after closing time.
Reason for Selling:
Retirement
Franchise:
This business is an established franchise
Business Website:
http://whaleofawash.com/

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Business Listed By:
Ned Walter

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