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Hawaii Coin-Operated Laundromat 96 Units

Honolulu County, HI

Having fun in Hawaii
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Asking Price: $299,000

Cash Flow: N/A

Gross Revenue: $386,142

EBITDA: N/A

FF&E: $300,000

Inventory: $3,875

Rent: $2.45 /Month

Established: 1990

Hawaii Coin-Operated Laundromat 96 Units

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Business Description

This full-service coin operated laundromat is largest on the island and has been in the same location for so long it has become a fixture in the community; they are the preferred supplier in this large market. They are conveniently located on a busy street, close to many customers and have plenty of free customer parking, a big plus in Hawaii. They have 96 units. They are fully air conditioned, provide a comfortable, clean and safe environment for their customers, have a friendly, helpful staff and offer wireless connections including Netflix, video games and sell many food and drink items, as well as, a line of retail laundry products. They have 4 years left on their current lease and have an excellent relationship with their landlord.

Most of their revenues are in cash.

In addition to the coin-operated laundromat, they also offer
• a wide range of commercial laundry services for hotels, apartments, resorts and dorms which include delivery service;
• they provide a professional laundry management service, using laundry equipment the Business owns, for customers, like hotels, public service housing and retirement homes, etc. where the Business runs and maintains their customer’s guest laundry facilities to the highest standards, reduces the customer’s operating costs and provides a good source of additional revenue for their customers;
• a drop off / wash & fold laundry service; and,
• dry cleaning services, which is subcontracted.

In their 2,400 square feet retail space they have made a massive investment in washing and drying laundry machines, as well as, a full array of other tangible assets.

• 5-year lease, expires in 4 years; No percentage rent
• Utilities in 2018
o Electric: $1,981/month in 2018
o Water & Sewer: $4,128/month
o LP Gas: $3,813/month

They see good growth and profit opportunities in the coin laundry, increased retail sales, commercial laundry services and the laundry management services markets. Closet competitor closed in early 2019.

The current owners have owned the business for 16 years. This business is for sale on a total turnkey basis including all tangible and intangible assets.

This is a great opportunity to live and work in Hawaii.

Detailed Information

Location:
Honolulu County, HI
Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
2,400
Lease Expiration:
N/A
Employees:
4
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
They are conveniently located on a busy street, close to many customers and have plenty of free customer parking, a big plus in Hawaii. Status: Lease Monthly Rent: $5,880 $$2.45/sq. ft / month; $70,560 / yr.) plus GET + CAM No Percentage Rent Sq. Ft.: 2,400 Other: Current lease expires in 2023
Competition:
Limited direct competition
Growth & Expansion:
They see good growth and profit opportunities in the coin laundry, increased retail sales, commercial laundry services and the laundry management services markets.
Support & Training:
2 weeks
Reason for Selling:
Raise capital for new investment
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Tom Caltrider

Business Listed By:
Tom Caltrider

Hawaii Business Sales

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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. Indicates membership in the M&A Source. The M&A Source is comprised of highly trained Intermediaries who advise on the preparation, sale and/or purchase of middle market (~$2M+ in revenue) business opportunities.

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