LISTING ID: 34771
Currently run absentee, the seller represents that, if an owner-operator took over, he could generate $85K in operating cash flow. Located in an ideal neighborhood for a laundromat, this one was completely refurbished & re-opened in 2021 and its sales & profits continue to grow. You will find 18 like-new Ipso washers and 14 Speed Queen double-stacked dryers comfortably spaced out over 875 square feet. Roughly, 57% of gross sales derive from wash & fold (pick-up & delivery and drop-off), 36% from coin-operated self-service, 6% from soap sales, and just 1% from dry cleaning, which should increase as people return to their offices. Your efforts, alongside those of 3 loyal part-time attendants, who altogether work 105 hours per week, should make a big difference in gross sales and profits. Run absentee as it has been, you might expect to start out making $30K in operating cash flow. The seller has kept excellent records that should check out once you are in the due diligence phase. You can add another 10 or so machines to the basement if you want to build up a commercial laundry business to go with the existing retail one. Kindly do not say anything to the employees and customers about the business being for sale, as they are as yet unaware. Please email or call the listing broker to make an appointment to speak with the seller.
