A Census national summary report shows that in the 3rd quarter of 2014 there were 24,250,000 rentals in the United States. 5 45 pound, Continental Express Dry, KTT45 Getting a leg up on the competition should be something to strongly consider when looking for a laundromat business for sale. All machines are in great condition. Call Syed at 631-374-7686 for more information. There are several advantages to buying a franchise over starting your own business from scratch. Self serve stores and no wash & fold offered. She is based in Santa Monica, California. The business fixed assets have an estimated value of approximately $170,000 App Pay Payment System. 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. There are a couple of areas where you can save taxes by operating a laundromat: Laundromats are cash businesses, or simple businesses as Jordan calls them. The minimum liquid cash required for getting started with this franchise is $75,000. Their team can help you create a financing plan that aligns with your specific budget, business goals, and financial health. WebAt Eastern Funding, we offer financing solutions for all segments of laundry including vended, on-premise, route and industrial. High end cloth cleaning service. 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 terms of laundromats, Jordan is always on the hunt for more great deals. - The operator proceeds to a nearby Laundromat of their choice to wash, dry, and fold the customers laundry. And one of our consultants will contact you. Very profitable and extremely busy, Manhattan laundry store. If you want a couple to check out, Jordan mentioned hes used Eastern Funding, and Alliance Funding Group. These simple, local, cash-flowing businesses have been around forever, but surprisingly this is the first time discussing them in detail on the show. Jordan said this means the market is very inefficient. $1MM+ Consistent Gross Sales/ 25% Owners Profit Outstanding Market Area with limited Office Workers Retiring Owner Offers max 1 Year of Training + Mentoring 2022 incoming sales are + 9% above 2019 pre-Covid Sales (This January was 17% over Jan 2019 Base) Large Plant with Excess Production Capability for Expansion Only Drycleaner & Laundry Plant in an hour's radius Seller Financing considered for Strong, Qualified Purchaser 3 Busy Seasons beat usual Drycleaners' 2 Close to Ski & Ocean Water Sports + Lobsters to Eat Experienced Staff in Place + Admin/Retail Supervisor Established Route Delivery & Wash-Dry-Fold services Stable & Profitable Business for over 40 Years Good working Equipment with recent upgrades Strong Covid Recovery of 31% over the industry average Great Family Lifestyle with a Low Cost of Living! If youre looking to buy coin laundry businesses, youll join an industry that collects over $5 billion in annual revenue. Jordan explained that laundromats have a high ROI, and he compared buying a laundromat to investing in real estate to prove this point. Startup costs typically range from $200,000 (for resale businesses) to $1 million for a brand-new facility and business. Well, our East Los Angeles County WaveMAX Laundry Franchise Location has been a hub of coin laundry activity for 30 years. 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. However, it is recommended for franchisees to have at least $75,000 in liquid capital to cover basic startup costs. 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. When you work with the best, they help you become the best.. 26 Dryers: (4) Large (22) Medium *Dryers are stacked- 2 pockets in one dryer Signed NDA and Proof of funds are REQUIRED prior to location visit. The potential to scale this business is endless. State of the Art Electrolux Washers. Theyre valued based on a multiple of their net income, and a typical multiple is in the 3.5 to 4.5 range. Surrounded by residential skyscrapers! Absentee management. The reason we are selling is multiple sclerosis. Eastern Funding offers financing that enables operators to run their multi-housing/route business on a large scale. This laundromat features 29 washers in varying sizes and 28 dryer pockets in varying sizes to meet customer needs. Some other ideas (and these are things Jordan has done) include installing a turnstile to use the bathroom, a massage chair, and some small ride-along toys for kids. 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 registration@vestedbb.com or call us at 1-877-735-5224 to discover the difference that is Vested Business Brokers. Fence yard. Location, Location, Location Established Successful Laundromat in Clayton County with multiple revenue streams. This They are close to the campus and they are extremely close to San Marcos river which includes tubing and water sports. All equipment needed for a successful laundromat is included in the sale. There has been no advertising done since it opened and I just created a Facebook page. The wash n fold drop off pays them. However, talking about his experiences, Jordan called laundromats a tax advantage business.. WebChris, Laundromat Owner | Georgia Start Your Business with a Turnkey Solution Get your business up and running with Laundryluxs turnkey solution, including construction, If youve ever visited your local laundromats, you might notice that many of them are understaffed, unkempt, and shabby. Current lease is 5,670/month all NNN included-15 years remaining Low to no maintenance costs for new owner. Our partners cannot pay us to guarantee favorable reviews of their products or services. Choose a business name. We believe everyone should be able to make financial decisions with confidence. Express Laundry Center helps their franchisees gain loyal clientele and consistent revenue with fully equipped laundromats. When you think of having your windows, and gutters cleaned, driveway power washed, or Christmas Lights installed were willing to bet you cant think of a household name. Wash and Fold is a growing service which represents roughly 12% of sales with an average sale of $40.00 per transaction. Copyright 2018 GUD Capital LLC. There are NO ZONING OR PERMIT REQUIREMENTS TO BUILD. holds its technicians to the highest standards in the field. Become a licensee. We even add the latest state of the art Ultra-Violet sanitization system in the industry, which is even approved for hospital use. Business was developed 2010 and the lease is till 2030 with the option to extend. Please provide, best date and times that you are available to speak. Call me today to take advantage of this opportunity with a great location. Vended Laundry Are you looking to buy an That 1 Painter is designed for Owner Operators and Semi Absentee Investors who want to manage a thriving and colorful business from home. The Best General Business Loan for Laundromats: SBA Loan. ft. - Renovated with new machines, floors, counters, paint, etc in 2021 - 52 Washers 20lb to 100lb (several huge washers) - 58 Dryers 30lb to 100lb (several huge dryers) - Large service counter with huge product display case - Large parking lot, excellent parking with ramp - Surrounded by apartments - Excellent staff thats been in-place 5+ years - Digital POS system that manages inventory Location #2 (Pasadena) - Price $1.0M | Cashflow: $160K - We invested $1.5M in this store (purchase + renovations) - Pre-approved for financing from reputable lender that knows the industry - Huge store. And one of our consultants will contact you. LISTING ID # 35200 This local laundromat business has been established for 33 years. Established in 1996, the website is an international marketplace of businesses for sale. Don't miss out on this great opportunity, contact us today to schedule a showing! And one of our consultants will contact you. This business has a very stable and growing income. Our store is staffed during all operating hours to provide the best customer service and cleanest environment possible. With lots of foot traffic coming through your laundromat, you could add advertising in a number of places. If you decide to franchise with SuperSuds, youll be walked through their proven five-step formula. Their team will work with you on securing a location, writing your business plan, designing your laundromat, and more. You can install an ATM, snack, coffee, or toy vending machines and collect some extra income. These loans provide long-term, fixed-rate financing with 10% down if you meet certain criteria. Since customers perform the labor of washing and drying clothes, laundromats have minimal staffing needs. Don't miss out on this chance to own a thriving business. The laundromat was purpose-built and had been operating as a laundromat for 10 years. Plus, laundry care continues to be a growing industry. If you do happen to get a traditional loan or line of credit from a bank (who only approve 1 in 4 small business loans) you will like obtain rates between 5-10% with repayment terms ranging from 1-10 years. 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. Here is a list of our partners. 3 Sites + 5 Acres Expansion. San Marcos is a quaint college town very close to Austin. When evaluating offers, please review the financial institutions Terms and Conditions. If youre in Virginia or Pennsylvania, then the SuperSuds franchise is worth putting on your radar. Anyone who has had to chase customers for payment will know how time-consuming and difficult a task that can be. Is The Coin Laundry Business Right For You? This pride in ownership, combined with the most efficient equipment on the market, provides an amazing laundromat experience. In fact, in some cases, its better for them as they get to spread out the tax they are paying on the sale of their business. So how do we make money? ft. with the same size of the basement. 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. Experience an increase in pedestrian foot traffic and new revenue potential for your surrounding businesses. Equipment is 10 years old. Getting the freedom to take care of him and replace my income is my motivation. Jordan is a former pastor turned laundromat mogul. Management in place. Includes regular commercial clients. 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 The laundry has plenty of parking right in front of the business. The lead broker at IBA for this business is Seth Rudin. Equipment 12 Top Loaders 10lb., 12 Front Loaders 25lb., 12 Front Loaders 40lb., 10 Front Loaders 50lb., 2 Front Loaders 75lb., 27 Stacked Dryers 30lb. $5,000 Buyer Referral fee paid on Sale (ask agent for details) With all of this, what more is there to LOVE. Price Cut-$310,000.00 on December 13, 2022. Please provide, best date and times that you are available to speak. Owner financing is available to qualified buyers with an appropriate down payment and credit. Great part time or absentee business has a good manager and employee in place that will stay with new owner. If youre in Michigan, Texas, Florida, or Pennsylvania, then Zoom Express Laundry is a laundromat franchise exclusive to your area. 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. People come in to wash or dry their laundry, they load up the machines with quarters, and they pay right there and then upfront. 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. Explore our custom landlord development programs to fill vacancies. Drop off Dry Cleaning. No third-party financing. The owner is the landlord, out of state and absentee and is prepared to supply an appropriate transitional period to the new owner. 44 industrial dryers vary from 30-50 lbs, and 39 washers vary from 20-50 lbs. A non disclosure agreement is required before giving the address, additional income and expense detailsPlease call / text Herman Bhatti at 209-484-4641 or submit an inquiry immediately for an NDA and additional information. The business is located in a major shopping center in Portland. 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