owner financing laundromat

By submitting this form, you confirm that you agree to our terms and conditions. 100% absentee. State of the Art Electrolux Washers. Owner financing is available to qualified buyers with an appropriate down payment and credit. The monthly lease is $4,625.70 + taxes and other charges. People come in to wash or dry their laundry, they load up the machines with quarters, and they pay right there and then upfront. Status: New. Excellent off street parking at both stores. Listen in your favorite podcast app or directly in your browser. Top-rated Laundromat provides additional steady revenue https://www.diamondlakeslaundry.com/, $1.8 M Sales (projected 2023) due to loss of only professional Drycleaning competitor in a 50-m radius Long-term Training by Retiring Owner: Dominate Dry Cleaner & Laundry with Drop Store/Laundromats Annual Retail Sales history: $1,400,000 in Y-E: 2021 & $1,700,000 in Y-E 2022 Y-E: 2023 Sales up & on target to be at $1,800,000 with 35% + Owner's Profit Projected increased volume will require minor variable cost increases/MAX to profit Added Value (Sales & Profits), but the Price stayed the same for fast SALE of Biz + Real Estate Sizeable Re-investments MADE: NEW Facilities & Equipment Family owns all Biz Real Estate & Buildings (Available but not included in Price) Retiring Owner is 2nd Generation of the Family and will offer a year of Training & Support Huge, Modern Fully Automated & Air-Conditioned Central Plant Market Strong due to Regional Shopping Center & Minimal Office-Dominance Long-Tern Commercial Bank Loan Avail. Zoom Express Laundry breaks away from the traditional coin-operated payment systemtheir laundry machines now accept cards and mobile payments. NerdWallet strives to keep its information accurate and up to date. There are NO ZONING OR PERMIT REQUIREMENTS TO BUILD. Blawenburg, NJ. The #1 Marketplace for selling your business online, Parking opportunities and ease of entry into the building. 4 30 pound, Continental Express Dry, KTT30 Rated 5 stars by its loyal customers. The business is new and will continue to develop and can be further expanded by the new operator with a marketing plan and local advertising to develop wash and fold. Green Green Green! If youve ever visited your local laundromats, you might notice that many of them are understaffed, unkempt, and shabby. All equipment needed for a successful laundromat is included in the sale. Obviously, there is some risk involved on their side. She has also held editing roles at LearnVest, a personal finance startup, and its parent company, Northwestern Mutual. For coin-operated laundromat owners that have bad credit and need a business loan, or lack any financial records other than bank statements, a merchant cash advance financing facility can be the best and only financing option Heres a look at the 10 most compelling reasons why owning a laundromat is according to Jordan the best investment you can make.. Maytag Commercial Laundry also partners with Eastern Funding to help you secure the capital needed to get your laundromat up and running. Web2. Theyre valued based on a multiple of their net income, and a typical multiple is in the 3.5 to 4.5 range. Laundromats are valued very differently from real estate. Semi absentee owned. Two stores, for one price ,one is comprised of Dexter equipment, and the other is a Speed Queen . Well established coin laundry business in a great central location. Basically, anything that requires coins to use, you can add inside your laundromat. A few machines are down due to back ordered parts. Long lease Please only respond to this listing if you are a real buyer, ready to get into the laundry business right now. Loyal client base and strong presence on internet search with many reviews. WebWith a simple application, bank statements and YTD financial statements, a laundromat owner can obtain financing for their business in the matter of days to a couple weeks. To learn more about this green laundromat and how to franchise with them, visit their website. She is based in Santa Monica, California. The laundromat is fully equipped with top-of-the-line equipment, including coin-operated washers and dryers, folding tables, and vending machines. But for the most part, the service a laundromat provides is the machines people use to wash and dry their clothes themselves. Ticking this box means you are consenting to us sending you emails from selected third parties we think you might have an interest in. Heres how it works: - Customers choose the services they need and the closest available wash and fold operator in their area and schedule a pick-up on our exclusive Aloha Laundry Life Platform. The equipment is in excellent condition, including a new Columbia CH00VGH dry cleaning machine. Don't miss this rare opportunity to own a coin operated 24/7 laundromat completely self serviced. A unique aspect of coin operated laundromats is the fact that a singe laundromat location can generate as much as $300,000 in revenue annually with very little overhead, while also having no inventory or receivables. $600 a month. This is a business sale, Leasehold included as part of the deal. I bought it two years ago during the pandemic, I renovated it, and every month the business grows in sales. Fantastic Hudson county laundromat! When evaluating offers, please review the financial institutions Terms and Conditions. 6 20 lb. We use cookies to to make sure you have the best experience on our website. Iconic coin-op laundromat and dry cleaning drop store in business since the late $105,000. Learn more about how to get financing in our guide to laundromat business loans. Most laundromats right now are run by mom and pop owners, Jordan said. KW Commercial is pleased to present a unique investment opportunity, Maytag Coin Laundromat, the well-established laundromat business located at 1019-49 W Sedgley Ave, Philadelphia, PA 19140. So, say a laundromat is making $1,000/mo, thats $12,000/yr which is around $50,000 in equity. He understood that laundry was a chore for most and the faster you finish, the better. The Speed Queen laundromat was founded by Joe Barlow and John Seelig in 1908. Surrounded by residential skyscrapers! Theres also no need to panic during a recession. 3rd party financing available with about 35%-50% down. Owner is looking to retired from the business This will be a perfect location for start-up , stable income. WebThe exact amount of profit a laundromat makes depends on its location, customer base, special amenities and other factors. yielding sensible cash flow. However, it is recommended for franchisees to have at least $75,000 in liquid capital to cover basic startup costs. Make sure to check your email (including spam/promotions) for your free welcome gift. With a strong reputation and steady income, this laundromat is a great investment opportunity. And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free. Call or email for more information. According to Speed Queen, laundromats can be a lucrative business opportunity for the right entrepreneur. No thanks. 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. The success or failure of a laundry business depends on many location variables. Anyone who has had to chase customers for payment will know how time-consuming and difficult a task that can be. Great Shopping Area Loyal Customer. Our store is staffed during all operating hours to provide the best customer service and cleanest environment possible. One of the most fun parts of learning how to start a laundry business is choosing the business name. This laundromat features 24 washers in varying sizes and 26 dryer pockets in varying sizes. Now Accepting Offers. If you own a business and are considering selling, visit our Sell a Business section. Established Neighborhood Laundromat for sale in NJ. This is largely due to the continuous demand for clean clothes. Furniture / Fixtures and Inventory / Stock included, Search more Dry Cleaners For Sale in Union County, NJ. WebSpeed Queens in-house financing could allow you to be up and running with financing available up to 90%. The minimum liquid cash required for getting started with this franchise is $75,000. Are you convinced that the laundromat industry is right for you? Website: clearwatercoinlaundry.com Dryers are natural gas and there is no AC in either location. Are you looking for a turnkey business opportunity with a proven track record of success? We provide a cost-effective route to market for business owners and their representatives and a one stop shop for aspiring entrepreneurs and business buyers. In terms of revenue, a coin-operated laundry facility can generate anywhere from $15,000 to $300,000 per year. WebLenders will only finance coin-operated laundry acquisitions that can afford to pay for financing out of its revenues. Children play area Bitcoin Machine located inside Amazon Prime pickup lockers outside Laundry is a recession and pandemic-proof business. LISTING ID # 34383 An attractively-located laundromat lies in the heart of several apartment buildings in Brooklyn. The business is located in the same shopping area as a grocery and Starbucks and a nearby intersection experiences over 23,500 in Annual Average Daily Traffic. and 2 Coin Changers. Parts of this site may not work with all screen readers, since users use a variety of screen readers, as well as different versions of these screen readers. The business should also have a web site to improve the retail yearly gross sales. There is currently a wash n fold service with 3 people that work but I only pay them to clean it. He has a podcast, in which he does long-form interviews with laundromat owners and other people in the industry. You can install an ATM, snack, coffee, or toy vending machines and collect some extra income. One of the best laundries in Philly! Some monetization methods Jordan mentioned include: You can offer a service where customers drop off their clothes, and you wash, dry, fold, and then return their clothes to them. Jordan recommends talking to a couple of laundromat-specific lenders. Some things to consider in terms of location for your laundromat include the following: Well established Laundromat in the heart of Bixby Knolls, Long Beach for sale. Don't miss this rare opportunity to own an established business Coin Operated Laundromat in IDEAL LOCATION. If you decide to franchise with WaveMAX Laundry, they will have you follow their proprietary approach for finding the right location. Even if people are cutting costs, clean clothes are still a daily necessity. Do not sell or share my personal information. Owner wants to retire. This email address is already registered. Managers should service the machines and manage the use of coin machines on premises. Jordan said this means the market is very inefficient. He wanted a business that would generate passive income and yield better returns than real estate. Contact Steven Schaefer at 631-292-2708 for more information. Territories begin as low as $29,000 based upon population. Look no further than this well-established laundromat located in a high-traffic area. Since you will need a significant amount of equipment, including commercial-grade washers and dryers, furniture and fittings, utilities installation, and more, the cost of starting a laundromat can be quite high. So, heres the deal: Getting into the laundromat business isnt cheap. It involves a brick-and-mortar facility full of expensive laundromat equipment! Keep reading. Making a budget and sticking to it is even more important in business than in your personal life. Udemy offers inexpensive courses on budgeting that are worth checking out. The second way is that you can depreciate your machines and assets each year and effectively write off that value. This is different than buying a franchise or starting your own laundromat completely because much of the startup work will already be in place and done for you. And one of our consultants will contact you. Laundry hook ups. Absentee management. Express Laundry Center franchisees are not required to pay a franchise fee. WebBrowse 43 Laundromats and Coin Laundry Businesses currently for sale in Florida on BizBuySell. Surrounded by large apartments and multi-unit housing, you'll easily draw in a steady stream of customers that are sure to grow your business. Van included plus pick up & delivery routes on place! Very Busy Location. We help our owners grow and dominate their market by providing the tools and support necessary in this thriving home services market. Their facilities feature high-speed Continental ExpressWash washers, which generate up to 381 G-force extract speeds. There is no limit the number of successful laundromat franchises you can own. Laundrylux provided me a turn-key solution including assistance with location selection, demographics, store design and signage, construction, proper laundromat equipment selection, and laundromat financing. In terms of laundromats, Jordan is always on the hunt for more great deals. This is a great part-time business for people from all walks of life wishing to supplement their income. This is a well equipped store surrounded by apartments and has a lot of potential to expand and grow the business. Save this Business Print. Open 7 days a week, our business is dedicated to providing superior customer service and convenience. Each laundromat owner runs their business differently, and he said there are often some great opportunities to be found. SBA small business loans are always an attractive financing option because of their low rates (currently around 6-8%) and long terms (up to 7 years for working capital, 10 years for equipment financing and 25 years for real estate). Traditional bank term loans or lines of credit is usually the first choice of laundromat owner seeking a small business loan. WaveMAX is actively seeking franchisees to expand their multi-unit franchise empire. In economic terms, the demand for washing clothes is inelastic. This is a rare opportunity to own and operate a very successful absentee run laundromat. Don't miss out on this chance to own a thriving business. For more information on this listing- copy and paste this link into your browser https://www.vestedbb.com/lid-35200 for instant access to this business information. Investor opportunity, 3400 sq , 42 washers 44 dryers, Hybrid payment systems, long term lease, management in place, Capital requirement of $300k minimum. 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. But, I sold it. WebChris, Laundromat Owner | Georgia Start Your Business with a Turnkey Solution Get your business up and running with Laundryluxs turnkey solution, including construction, We offer financing for any capacity and number of on-premise laundry equipment; from a simple washer extractor and dryer setup for a gym to industrial washers and folding systems for large hospitals and hotels. WebOwner financing is available to qualified buyers with an appropriate down payment and credit. WebAt Eastern Funding, we offer financing solutions for all segments of laundry including vended, on-premise, route and industrial. We leave the competition behind. 4 55 lb. The reason we are selling is multiple sclerosis. With its well established success, and favorable demographic ensuring regular customers all year round. All equipment needed for a successful laundromat is included in the sale. Competition: Competition? Detailed, This will sell quickly! You are about to leave the Eastern Funding website. Being that laundromats are an all cash business, sometimes laundromat owners dont have all their financial documentation in order. Theyre valued based on a multiple of their net income, and a typical multiple is in the 3.5 to 4.5 range. Call the broker today for more details and to make an offer. A century of business experience and knowledge has grown the small laundromat into a successful franchise. You may be able to get an SBA 504 loan. You're in! For hotels, healthcare, sports and other facilities, doing their laundry in-house allows them to efficiently manage high use, high turnover laundry. Robert Schwartz founded SuperSuds in 1996 because he saw an opportunity to improve the laundry care industry. Is The Coin Laundry Business Right For You? You can pick up where the previous owner left off and start collecting quarters the next day. 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. In-house financing services remove complex credit barriers for faster approvals and better rates than third-party lenders. ** This is two large laundromats for sale separately or together. Lead Assigning Editor | Small business finances, investing, banking. WebPartial owner financing. 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They have teams proficient in marketing, advertising, and public relations available for any questions you might have. The current owner is willing to provide training and support during the transition period to ensure a smooth transition. Waranty still remains for major parts. Zoom Express equips their laundromats with sophisticated commercial washers and dryers that are more efficient at extracting water from wet clothes. Jordan is quick to say that hes not a qualified CPA or a lawyer, and your individual circumstances may differ from his. Our top priority is to guide you through a successful transaction we have the energy you need! 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. I know because I was in your shoes. With easy access to parking, this high traffic area has endless possibilities. This business has a very stable and growing income. 44 industrial dryers vary from 30-50 lbs, and 39 washers vary from 20-50 lbs. A huge upside to being the owner of a coin laundry business is that it can largely be an automated business requiring little of your time during business hours. Asking Price: $800,000. 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. If you want a couple to check out, Jordan mentioned hes used Eastern Funding, and Alliance Funding Group. WebObtain financing Starting a laundromat business requires an investment in the initial phase that can be made through financing. Authentic replacement parts to extend the life and safe operation of your commercial laundry equipment investments. These simple, local, cash-flowing businesses have been around forever, but surprisingly this is the first time discussing them in detail on the show. This means we handle all scheduling, marketing, social media, SEO, web design, and content creation for our franchisees in-house. NOI increased 42% from 2021-22 to 2022-23 97% full/47,950 NRSF/298 Units. Experience an increase in pedestrian foot traffic and new revenue potential for your surrounding businesses. Buyers must be well-qualified. 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. The wash n fold drop off pays them. Year of 2022 Total Revenue $250,000 Net income $135,000 2 year of Profit and Loss statements available upon request after signing NDA Two coin laundromats in prime locations close to each other in Seattle area. Online marketing campaign in place. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); ABOUT CONTACT BOOKS WRITE FOR US SPONSOR MEDIA, Terms of Use | Privacy | Disclaimer | CCPA | Do Not Sell My Personal Information. Previously, she was an editor at Fundera, where she developed service-driven content on topics such as business lending, software and insurance. $1,000 Buyer Referral fee paid on Sale (ask agent for details) With all of this, what more is there to LOVE? In other words, you can finish your laundry faster and get back to your other to-dos. This frees up your time and energy to create a work-life balance many entrepreneurs strive for. In this highly fragmented space, there isnt a national brand that stands out. Minimum liquid cash requirement: $300,000. old. This coin operated laundromat is equipped with commercial washer and dryers, coin machines, soap dispensers and more. Attention Business Owners: We are always in search of quality businesses to list, so if you are thinking of selling your business or would like to acquire another business, please email us at listingmanager@vestedbb.com or call us at 1-877-735-5224 to discover the difference that is Vested Business Brokers.

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