Echo Park Area Coin Laundry – Automated w/Modern Equipment!

Los Angeles, CA (Los Angeles County)

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Asking Price: $850,000

Cash Flow: $183,695

Gross Revenue: $358,876

EBITDA: $183,695

FF&E: $200,000

Inventory: $2,000*

Rent: $4,155 /Month

Established: 2015

*not included in asking price.

Echo Park Area Coin Laundry – Automated w/Modern Equipment!

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Business Description

This semi-absentee operated Echo Park Area coin laundry boasts the latest and greatest in modern eco-friendly fully automated machines. They also provide convenient drop off wash and fold and dry cleaning service. The business has an onsite parking lot and excellent freeway access. It is ideally located to conveniently service several nearby communities as well as neighborhood residents. It is a popular go-to location for the area’s young and hip resident base.

Detailed Information

Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
1,400
Lease Expiration:
N/A
Employees:
4
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
This coinless facility operates out of a 1,400 square foot facility that leases for $4,155 per month including common area maintenance (CAM) on a lease until 6/2025 with two 5 year options (with 3.0% annual increases during the option periods). It boasts nearly 30 front loading machines, all operated with an automated card system. Approximately $400,000 was originally invested in the facility and equipment. All of the business’s furniture, fixtures, equipment and goodwill will be included in the sale.
Competition:
While competition exists, this convenient location with onsite parking, excellent freeway access, and new eco-friendly equipment, an automated card-driven operating system and additional customer focused provides it a unique advantage.
Growth & Expansion:
New operators will likely want to simply maintain this operation ‘as-is’. In the near future, a large apartment development should be completed. While the complex will offer laundry options to residents on each floor, they will likely only have a limited number of units available – which should result in those customers with multiple loads simply doing their laundry at this facility. Regardless of where they choose to do laundry, they should see a significant boost in their fluff and fold and dry cleaning services.
Support & Training:
2 Weeks at 20 hrs/wk
Reason for Selling:
Personal
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Michael Wildeveld, CBB, CBI, CM&AP, M&AMI, CEPA

Business Listed By:
Ryan Clark

The Veld Group

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Memberships & Certifications:
Indicates membership in the International Business Brokers Association (IBBA). The IBBA is the only certifying organization for Business Brokers and Intermediaries who assists people in buying or selling a business. Certified Business Intermediary (CBI) is a professional certification awarded to Business Brokers and Intermediaries that have achieved stringent requirements. CBI's work by an ethical code of conduct when working with business owners and buyers. Merger and Acquisition Master Intermediary (M&AMI) is a professional certification awarded to Intermediaries who've achieve very stringent educational and professional requirements. M&AMI's agree to abide by an ethical code of conduct when working with business owners and buyers. Indicates membership in The California Association of Business Brokers (CABB). The CABB Certified Business Broker (CBB) certification distinguishes its holder as a seasoned professional who has a solid educational background, proven accomplishments in completing deals, and an active membership in the CABB.

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