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Northern New Hampshire Laundromat

Coos County, NH

Seller Financing Available
Northern New Hampshire Laundromat
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Asking Price: $109,900

Cash Flow: N/A

Gross Revenue: $88,803

EBITDA: N/A

FF&E: $114,619

Inventory: $800*

Rent: $7,081,200 /Month

Established: 2015

*not included in asking price.

Northern New Hampshire Laundromat

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Business Description

May 2019-PRICE REDUCED BY MOTIVATED SELLER!
This business was created in 2015 by the current owner. It operates as an LLC with the seller as the sole member. The laundromat is located in a 2800 square foot space in a vibrant strip mall on a main city street.
There is consistent demand for the retail laundry service in the community which includes dry clean drop off/pick up, wash and fold services, as well as “coin-op” washer/dryer facilities. Most of the business is retail individual customer usage, although there are a couple of institutional customers for wash and fold service as well.
This laundromat relies on a local customer base for the majority of its retail washer/dryer business; however, there is a “tourist” component which also supplements local business. When the tourists are in the area (June through October and December through March, roughly), the laundromat is busier with the variable of rental guests, hikers, and campground guests using the washer/dryer facilities.

Detailed Information

Location:
Coos County, NH
Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
2,800
Lease Expiration:
4/30/2028
Employees:
3
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The leased space is plus or minus 2800 square feet, all on one level. There is ample parking in the parking lot in front of the Laundromat. The laundromat is housed in a well maintained commercial strip mall and the facility itself, only two years old, is in excellent condition. The two year old build-out includes state-of-the-art Rinnai on-demand water heating for all washers. An ESD card system is in place on all dryers and washers, which eliminates the use of quarters, facilitates revenue collection, and protects against slippage. All furniture, fixtures, and equipment are in good to excellent shape. The public areas of the laundromat are clean, well maintained, comfortable, and appealing to customers.
Competition:
The laundromat is the only facility of its kind in the area and one of only two facilities in a 10 mile radius.
Growth & Expansion:
This business’ growth potential is unlimited with a hands on, on-site, owner operator who is invested in the business, the customers, and the community. The profitability of the business can also be positively impacted by an owner-operator absorbing much of the payroll that exists now which is necessary because of an absentee owner. Positive revenue results could also be immediately realized with increased institutional and commercial wash and fold accounts and more aggressive awareness marketing of all services available at the Laundromat, to both commercial/institutional entities and local residents. Greater promotion and advertising of the retail washer/dryer aspect of the business is also critical in increasing potential revenues with little impact on relative expenses. Lastly, a social media/on-line presence is currently non-existent so by creating a website, a Facebook page, and other social media activity will immediately and positively impact business growth.
Financing:
Available to Qualified Buyers
Support & Training:
The seller is willing to train for two weeks at not charge.
Reason for Selling:
Seller has been dealing with health issues.
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(from currently available funds)
 
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Jay Polimeno

Business Listed By:
Jay Polimeno

Sunbelt Business Brokers of New Hampshire

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