Established Coin Laundry Great Location

Tukwila, WA (King County)

Seller Financing Available
Established Coin Laundry Great Location
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Asking Price: $110,000

Cash Flow: $1

Gross Revenue: $151,876

EBITDA: N/A

FF&E: $50,000

Inventory: $1,500*

Rent: $7,944 /Month

Established: 1999

*not included in asking price.

Established Coin Laundry Great Location

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Business Description

Very unique business for sale, if you like to have your hands in many money-making activities at one time then maybe this business is a good fit for you. Also easy on your body as none of these money-making activities are labor intensive. This business makes $$$ from a huge repeat customer base of the self-service washer and dryer usage. Then there is $$ made from offering a drop off service for in-store cleaning for customers, $$ is made from being a drop-off point for dry cleaners’ pickup. This laundromat offers snacks which also generate extra income. Then there is at least $800 a month made with money transfers. This business even has 5 fully operational tanning booths that get pretty busy especially during the summer months. About $300 to $400 a month busy. This is without a website or any marketing being done. Seller says he nets over $8,000 a month from this business. Many new and or newer washers and drying machines. Square footage is 3750 so plenty of space for the new owner to be creative with some other money-making ideas of their own or just enhance the services that are already here. Such as the snack area, it could be taken up a level or two and add a full snack bar and maybe even offer espresso coffee type drinks. Maybe offer more ethnic-based food and drink snacks to better cater to the ethnic makeup of this neighborhood. Even the dry cleaner drop off services could be taken up a level. And with a little marketing on the tanning booths, profits would for sure rise. So there really is plenty of untapped dollars being missed out on. There is plenty of parking and easy in and out parking for your customers. Signage and visibility are strong. This business is located on a very busy street with several solid anchors in place that keep this plaza busy with people. This is a great location for a coin laundry. This type of business lends itself well to absentee or semi-absentee ownership. This type of business needs minimal employees so no huge labor costs will be incurred by the new owner. Seller has owned this laundromat since 2003 and wants to retire now. Come to check this business out, bring a load of dirty clothes and see for yourself how clean this business opportunity is.

Detailed Information

Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
3,750
Lease Expiration:
5/31/2025
Employees:
2
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The base monthly lease is $4,811 and the monthly triple net is $3,133 it should be noted that the water bill is covered with this triple net cost. This is a laundry so that is a good savings for the owner. The lease is assignable and has a 5-year option to renew. Current lease expires May of 2020. About 3,750 square feet. Close to 100 combined washers and dryers please see the equipment list for further breakdown. 5 fully operational tanning booths. Plenty of parking and easy access for your customers.
Competition:
Ways to expand upon an already solid cash flow, the new owner needs to get a website and market and advertise the tanning booths. Right now, they are almost a secret. There is 3750 square feet so new owner has the space to be creative. Take the snack area for example it could be taken up a level or two and add a full snack bar and maybe even offer espresso coffee type drinks. Maybe offer more ethnic-based food and drink snacks to better cater to the ethnic makeup of this neighborhood. There is enough space to even offer alteration services. Not any much competition, this is a very unique business.
Growth & Expansion:
Ways to expand upon an already solid cash flow, the new owner needs to get a website and market and advertise the tanning booths. Right now, they are almost a secret. There is 3750 square feet so new owner has the space to be creative. Take the snack area for example it could be taken up a level or two and add a full snack bar and maybe even offer espresso coffee type drinks. Maybe offer more ethnic-based food and drink snacks to better cater to the ethnic makeup of this neighborhood. There is enough space to even offer alteration services. Not any much competition, this is a very unique business.
Financing:
80% down case by case basis
Support & Training:
Owner willing to offer 2 weeks training and more is negotiable.
Reason for Selling:
Owner wants to retire
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(from currently available funds)
 
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David Smith

Business Listed By:
David Smith

Coldwell Banker Bain

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