Laundromat Absentee Owner

Anne Arundel County, MD

Laundromat Absentee Owner
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Asking Price: $140,000

Cash Flow: $45,000

Gross Revenue: $119,600

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Established: N/A

Laundromat Absentee Owner

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Business Description

Absentee owned and still very profitable!

Well established and profitable laundromat with ample free parking. Gross sales average about $2,400 per week. About half of the sales are generated from the washers, 15% are generated from the dryers and 35% are generated from the wash, dry and fold service. In addition to the above sales figures, this laundromat sells inventory through vending machines, roughly $100 per week at a 10 to 15% profit. There are 31 washers in total, two of which are considered "big boys". Nine of these washers, and one of the big boys, were purchased in April, 2016. The owner does not know the age of the remaining washers. The 16 dryers are at least 11 years old. One change machine. Add delivery to increase business. Rent is very reasonable at $2,553 (which includes CAM charges) for 2000 square feet. Insurance runs about $1,199 per year. Hours of operation: Saturday and Sunday 7 to 7. Weekdays 8 to 7. The payroll is a bit high because this is a 100% absentee owner operation. Payroll expenses can be significantly reduced with an owner operator. Average weekly payroll is about $570 for three employees. The quarterly water bill runs about $322. Electricity expense averages about $340. The propane bill averages about $480 per month.

No brokers please.

LibertyBusinessBrokerage.com

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David Peter

Business Listed By:
David Peter

Liberty Business Brokerage

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