App Pay Payment System. Buildings are built between 2002 and 2017. 4 40 lb. Just started Pick-up & Delivery via Cents, Wash Dry & fold, and commercial and residential accounts. With an extensive presence across the country, Best Option Restoration (B.O.R.) Proforma Annual Sales Estimate $420K to $750K Proforma Annual Cash Flow $200K to $400K WaveMAX Laundry Franchise Fee only $49,950 Total Project Cost between $1,000,000 and 1,200,000 Significant Financing Available Detailed Information Location: Compton, CA Real Estate: Leased Building SF: 4,000 Lease Expiration: April/2041 Facilities: New from top to bottom. But, Im a lot older now , and understand things now better. Another building, next to the laundromat, is almost complete to accommodate 2500 residents. WebAccording to Speed Queen, laundromats can be a lucrative business opportunity for the right entrepreneur. I agree if you, as a owner place in the right location and keep it clean it will make you money. 3 Year Average Return on the investment - 19.5% pa 3 Year Average Return on the revenue - 24.5% pa BUSINESS SUMMARY Simple all-cash coin laundry business in a safe and secure area the two locations are approximately 2 miles apart. Rent is $5,000, with a 25 years lease. Vended Laundry Are you looking to buy an If youve ever visited your local laundromats, you might notice that many of them are understaffed, unkempt, and shabby. A Better Place to Do Your Laundry Laundry is all we do. Our partners compensate us. With its well established success, and favorable demographic ensuring regular customers all year round. Status: New. Current lease is 5,670/month all NNN included-15 years remaining Low to no maintenance costs for new owner. By clicking the Download button below, you will begin downloading a PDF file. High end cloth cleaning service. Even if people are cutting costs, clean clothes are still a daily necessity. This influences which products we write about and where and how the product appears on a page. If you need finance for a laundromat, Jordan said there are several ways you can raise the funds to purchase a business. All machines are in great condition. And the same is true within laundromat franchises specifically. The reason we are selling is multiple sclerosis. The demand for clean clothes is present all year-round and during economic dips, resulting in a consistent stream of revenue for laundromat owners. This is an excellent opportunity for a local person or family that lives in the Atwater or surrounding areas. The potential to scale this business is endless. Jordan has a billboard on the side of one of his buildings and some advertising inside that generates income. But if youre looking to secure SBA laundromat financing, youre going to need to make sure the laundromats books are in great shape. holds its technicians to the highest standards in the field. When operating a business like a laundromat, however, you can pay expenses before deducting tax. Easy to manage business, ideal for starters and investors. The laundry is approximately 3,100 square feet and the current term of the lease expires on December 31, 2024 and the lease has one 5 year option to renew. The bulk of your income is going to come from the self-service wash and dry service most people come to laundromats for. When evaluating offers, please review the financial institutions Terms and Conditions. Self service laundries historically perform very well during recessionary times! $5,000 Buyer Referral fee paid on Sale (ask agent for details) With all of this, what more is there to LOVE. All equipment needed for a successful laundromat is included in the sale. When making a major business investment, you need an experienced partner you can trust. Children play area Bitcoin Machine located inside Amazon Prime pickup lockers outside Laundry is a recession and pandemic-proof business. Established Neighborhood Laundromat for sale in NJ. All financial products, shopping products and services are presented without warranty. washer, Continental RMG 55 New and refurbished laundromats make excellent tenants for a retail space, increasing local foot traffic to adjacent businesses. WebLaundromat & Dry Cleaning Drop Store. Why, you will ask Im sure, well the repair bills on the washers and dryers ate me up. And one of our consultants will contact you. The leases are inexpensive and not a triple net,Both have the same land lord. Please provide, best date and times that you are available to speak. LISTING ID # 34383 An attractively-located laundromat lies in the heart of several apartment buildings in Brooklyn. The owner is the landlord, out of state and absentee and is prepared to supply an appropriate transitional period to the new owner. While the initial investment is high, it is a stable industry with an in-demand service people always need to clean clothes! H-Mart grocery anchor. The median cost to open a laundromat from the ground up is approximately $1.2 million, and you can expect to pay a similar price for an existing laundry business. Their business model is also committed to elevating the customer experience with vibrant in-store designs, lounge areas, complimentary iPads, and free WiFi. Both have been remodeled, one is a complete remodel down to the studs. Jordan explained that a lot of laundromat owners are willing to finance the sale of their business. Seller will finance down payment from buyer. Preferably, you will have enough starting capital to maintain an entire year while you work towards positive cash flow. Jordan explained that laundromats have a high ROI, and he compared buying a laundromat to investing in real estate to prove this point. - The wash, dry, and fold operator will pick up the laundry at the customers location. Welcome to your new business opportunity! Our partners cannot pay us to guarantee favorable reviews of their products or services. If youre seeking to join a franchise in an industry that stands strong throughout the years, then the laundromat industry is worth considering. As service businesses go, laundromats are fairly passive. This is a relatively low-maintenance business, so you can hire a few employees to manage the store when youre not around. pls , reply if you ,would love to hear how you handle the repairs. There is no competition, nor known planned competition, within almost 5 miles and very limited comp within 10 miles. Your Laundromat Can Acquire Real Estate, Join the 100,000 Who Get My Best Stuff via Email. Buying a franchise requires a lot of legwork and access to liquid funds. Laundromats are valued very differently from real estate. This modern laundromat company which consists of approximately 1,800 square feet with an attractive appearance is located on an active commercial avenue with other local businesses. Competition: Competition? required licenses, no web site, no social media venues, displays, shelving, no POS system, tables, computers, software including all the necessary equipment to maintain the day-to-day business operation and a list of assets will be supplied to purchaser upon request. Location Location Location! Sunbelt Texas Business Brokers is a business brokerage firm specializing in buying and selling privately held businesses in Texas. WebLarge 2 br house owner finance. We had to expand the backyard to have a place to put four dryers for the drop-off service and to store products that we sell. Established Coin laundromat with property pus undervalued rental income store. Territories begin as low as $29,000 based upon population. This means, if you pay in cash you can get an immediate 20-30% return on your investment. I'll also send you my free guide: The 5 Fastest Ways to Make More Money. Detailed, Wash and fold laundry, dry cleaning and Tailoring, all in one store. Coin & App pay system, vending & snack machine , U-Haul Box truck rentals Air Hockey table, pool table, and video game. The facility is fully equipped with large, well-maintained machines and efficient wash/dry cycles. Call the broker today for more details and to make an offer. For Strong Qualified Buyer $7,500 Referral Fee Paid on Buyer at Settlement to anyone referring the Buyer Contact Exclusive Agent Richard Ehrenreich for Details, **A special website has been setup for this business (www.wash4sale.com) with video tours, pictures, interviews with the owner, loan pre-approval, and more. Minimum liquid cash requirement: $300,000. $800,000. Four of the main ways he recommends raising finance are: Jordan said a lot of the companies supplying machines for laundromats will do a good deal on financing. Listen in your favorite podcast app or directly in your browser. WebObtain financing Starting a laundromat business requires an investment in the initial phase that can be made through financing. There has been no advertising done since it opened and I just created a Facebook page. There will always be a need to clean garments no matter the situation. WebOwner Financing, Absentee laundry Contact Seller. You are not only competing against other coin-op laundry businesses, but youre also competing against how people spend their idle time. A few machines are down due to back ordered parts. Be the next to join our team of 70 Franchisees and 150 locations sold nationwide. People come in to wash or dry their laundry, they load up the machines with quarters, and they pay right there and then upfront. She has also held editing roles at LearnVest, a personal finance startup, and its parent company, Northwestern Mutual. Web2. This frees up your time and energy to create a work-life balance many entrepreneurs strive for. With their great rates and favorable terms, it makes sense to be an attractive source. 10. However, there are many services you can offer and ways to generate additional income streams. State of the Art Electrolux Washers. Detailed. And unless you had an extra $300,000 - $1M lying around (which I didnt) or planned to carry a debt service for the first 10 years of your startup, building a new laundromat was also not an option for me. In this highly fragmented space, there isnt a national brand that stands out. The laundry has plenty of parking right in front of the business. Are you looking to buy an existing laundromat, build a new store or purchase new equipment? Wash and fold laundry, dry cleaning and Tailoring, all in one store. Elevate your future with a legacy-building business! Very profitable and extremely busy, Manhattan laundry store. Today's customers want better, faster, safer and newer! Please Answer these Questions In Comments Section: Describe your business background, the type and size business you seek, your investment capability, (no owner financing), and your interest in this business. Are you convinced that the laundromat industry is right for you? Rare opportunity to own a consistently cash flowing coin operated laundromat in a high traffic, good demographic area. The business transaction will offer a new commercial lease which expires 2033-01-01, plus additional options available, with a monthly rent of $3,245 all in, 2% yearly rent increases, cost per square foot is estimated at $29.00 and two months of rent security. Net benefit of +50k per year, very clear numbers. We leave the competition behind. A Drop Off Service and Wash Club are also offered to bring in repeat customers. Heres a look at the 10 most compelling reasons why owning a laundromat is according to Jordan the best investment you can make.. A Census national summary report shows that in the 3rd quarter of 2014 there were 24,250,000 rentals in the United States. These loans provide long-term, fixed-rate financing with 10% down if you meet certain criteria. Not everyone owns their own house or their own washing machines, so the need to frequent a laundromat is a reality for many Americans. Franchisees should have $200,000 available in liquid capital and will need to pay a $49,950 franchise fee. Don't miss out on this chance to own a thriving business. You are about to leave the Eastern Funding website. Our Grand Reopening is slated for late October. Remotely monitor and manage laundry equipment with the LaundryPulse app for increased savings and informed decisions. For more information, please call or text Nadir Jiddou at 248-220-3274. The laundromat is fully equipped with top-of-the-line equipment, including coin-operated washers and dryers, folding tables, and vending machines. Each laundromat owner runs their business differently, and he said there are often some great opportunities to be found. And one of our consultants will contact you. Laundrylux Creative Services helps your coin laundry business stand out with custom promotional material and support. Iconic coin-op laundromat and dry cleaning drop store in business since the late $105,000. He has covered financial topics as an editor for more than a decade. Established in 1996, the website is an international marketplace of businesses for sale. WebLaundromat (Can be located anywhere) Retiring Owner Offer 1 Year of Training & Long Term Mentoring 2022 incoming sales are + 9% above 2019 pre-Covid Sales Large Plant w/20% Excess Capability Perfect to Bismarck, AR Cash Flow: $236,734 Self-Storage+ For Sale. Also, they will help you with your interior designing, marketing campaigns, and website design. ** This is two large laundromats for sale separately or together. BusinessesForSale.com is the world's most popular website for buying or selling a business. Very Busy Location. On-site manager's residence plus an extra 2-bedroom apartment with a long-term (5+ year), low maintenance, tenant on auto-pay. Eastern Funding, LLC 213 West 35th Street New York, NY 10001, Phone: (212) 819-2000 Toll-free: (877) 819-1764 E-mail: info@easternfunding.com. Asking Price: $800,000. This is a turn-key laundry service business that provides high quality and an easy laundromat experience like no other. Ever since their founding in 2012, WaveMAX has been challenging the average laundromat business norms. Some companies will only finance people with experience running a laundromat. By submitting this form, you confirm that you agree to our terms and conditions. old. Laundromats are valued at around 3.5 to 4.5 times their net operating income. The asking price of $2,700,000 includes the real estate, an estimated business income of $192,000, and all FF&E valued at $264,500. This In their mission to go green, each location offers reusable and eco-friendly laundry bags, uses energy-efficient machines, and even runs their business on 100% pure wind energy. And one of our consultants will contact you. This pride in ownership, combined with the most efficient equipment on the market, provides an amazing laundromat experience. Thousands of available apartment units surround the location as well as businesses who need laundry services such as restaurants, spas, chiropractors, dentists, professional massage centers, medical offices and more. All equipment needed for a successful laundromat is included in the sale. The Best General Business Loan for Laundromats: SBA Loan. Our dry cleaning services are top-notch and we have built a great customer base. Large parking lot suitable for RVS We dont have the numbers on the stores because they have been re-tooled, We have the numbers for the last three months of last year and for this year but the one store has been closed for remodeling. However, it is recommended for franchisees to have at least $75,000 in liquid capital to cover basic startup costs. This email address is already registered. This Western Suffolk County gem! If youre not sure if a laundromat franchise is the right business for you, check out these five benefits that could make this a savvy business move. When you assume a loan, you dont originate a new loan, you simply transfer the old loan from the seller to you and you take over the payments. The benefit of assuming the existing loan as laundromat financing is that it is typically cheaper than starting a new loan and the business should be able to support it. Cool? Save this Business Print. There is none of that with laundromats. WebLocal Laundromat In Kings County. He understood that laundry was a chore for most and the faster you finish, the better. WebPartial owner financing. It wasnt just the income potential that intrigued Jordan. The business should also have a web site to improve the retail yearly gross sales. All financial products, shopping products and services are presented without warranty. Description: An attractively-located laundromat lies in the heart of several apartment Laundromats are valued very differently from real estate. GUD Capital is a nationally recognized leader in the financing industry for providing the best business lending solutions available to small and mid-sized businesses. We offer our customers the choice to do their own laundry or utilize our wash-dry-fold services, typically done in 24 hours, and we now offer drop-off service as well. ft. with a mix of large commercial washers and dryers. Its as easy as that. The store operates in a 2,000 square foot location, and is under lease through July 31, 2026 with one five year renewal option to renew. Please provide, best date and times that you are available to speak. This profitable coin-operated laundry is situated in an ideal location within a strip center and provides great visibility for the laundromat industry. This location is in the process of being retooled from floor to ceiling, most every single thing in this store is new from the plumbing underground to every single first in quality newest technology Electrolux washing machine or dryer. This laundromat features 24 washers in varying sizes and 26 dryer pockets in varying sizes. The store has 17 Washers + 20 Dryers all Huebsh 10 yrs. Wanting to make the laundromat more enjoyable, all SuperSuds locations are furnished with flat-screen TVs, WiFi, and radio. Owner financing is available to qualified buyers with an appropriate down payment and credit. Basically, anything that requires coins to use, you can add inside your laundromat. Online marketing campaign in place. A Small Business Administration loan is often seen as the best business loan around. laundromats experience an average cash-on-cash return on investment of 20-35% Coin laundries can generate anywhere between $15,000 and $300,000 per year. Footprints Floors is a home-based flooring installation and restoration franchise with low overhead costs and a high potential for returns in a relatively short timeframe. For more information on this listing- copy and paste this link into your browser https://www.vestedbb.com/lid-35207 for instant access to this business information. 18 pockets Dryers For more information on this listing, call the broker today! Operated by employees with owner's involvement in cash collection. Absentee management. Store has 18 Washers & 14 Dryers, Renovated in 2021. Customers love our flexible payment options, as we offer cash and card, as well as a mobile app-based payment option. Disclaimer: NerdWallet strives to keep its information accurate and up to date. WebWe Fund Laundromats provides financing pre-approval for your equipment or new store. Easily reachable from Baltimore or DC area. 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