*****This listing has an offer but please complete the form and we will keep you as a back-up if it falls through or another comes up.
Great Opportunity to own a large established laundromat with lots of growth potential.
This is store is located in a well appointed plaza with great anchor tenants.
This is is a big store at 4,500 sq. ft. (about 3 times the average store of 1500 sq. ft.). The rent is $6,795 per month PLUS CAM of $3705, so TOTAL Rent is $10,500. 5 years left on lease but landlord will give extra years. Store is located in busy plaza with national big retailer tenant.
Store has 102 machines (46 washers & 66 dryers) approx. 25-30 years in great condition. Only 1 is currently out of service. Plus there are many folding tables and open space to handle high volume.
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CURRENT OPERATION = Breakeven: This store is mostly absentee with 3 employees covering about 70 hours. The other 25+ hours are left unattended. Under this model, the store is breakeven as salaries run $6500 month but they only produce $1700 worth of wash & fold. Generally your wash & fold should be 2-3 times your payroll. If you keep this model, you need to build a vibrant Wash & Fold and maybe Pick Up and Delivery (PUD) business.
PROPOSED OPERATION = $58,000 Net Profit. If you converted store to be unattended, you would save payroll and add some cleaning labor costs. The store already operates unattended for 4 hours a day and has auto-lock doors.
You can run the store attended or unattended- this is up to new owner.
Owner has another 2 other businesses and cant keep up with all 3. This is why he is selling.
$105,000 FIRM
Cash Offers Only
No Financing
Ad#:2401355
