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Coin Laundromat With Wash And Fold
Location: United States -> Connecticut -> Waterbury
Industry: Business Services > Laundry




Business Summary

This is a Laundromat that's been owned by the same family for 63 years.

It has 21 dryers and 23 washers in the front and 2 - 50 lb dryers and 6 washers in the back dedicated to a wash & fold business that also delivers. The wash and fold business is over 30% of total sales. They even have an extractor in the back.

Hours of operation: Monday thru Friday 6:00 to 9:00, Saturday and Sunday 6:00 to 6:00. The store has automatic front door opening at 6:00 AM.

It is estimated that the total cost of the machines with installation is +/- $65,000. These machines are old but work good because they have been meticulously maintained over the years. Estimated fair market value is +/- $25,000.

Sales for the new Owner is estimated to be +/- $143,289. The net (after all business expenses) is estimated to be +/- $27,988 (Owner's Cash Flow).

Labor includes a working Owner, 2 wash & fold part timers and night part timers. Estimated labor expense for a new Owner is +/- $35,724 - +/- $687/week (without counting a withdrawal for the working Owner who gets everything after expenses (see above's +/- $27,988).

Reason for Sale – Owner is retiring. If qualified, Owner will consider financing 30% of the Listed Price at 7% over 2 – 3 years.

This is a great opportunity for someone thinking of getting into this business. Rent is +/- $1,678 per month. Utility Expenses are +/- $1,640 per month.

Interested buyers MUST sign our Confidentiality Agreement and fill out the Questionnaire before any additional information is received or a meeting is scheduled to view the business, or the location disclosed. Forms are available at this Listing, on our website, (from the link in front of the pictures) or can be e-Mailed to you upon request. Detailed financial information showing ability to purchase and proof of funds may be required before a meeting or conference call is scheduled.


Financials

Asking Price Range:  < $250K
Gross Revenues:   $143,289
Cash Flow:   $27,988
Cash Flow Type:  Sellers Discretionary Cash
Seller Financing:  Yes

About The Business

Year Established:  1953
Number of Employees:  4 - 5
Relocatable:  No
Franchise:  No
Current Real Estate:  Leased
Property:  Property For Lease

About The Sale

Management Training and Support:  Owner will assist in the transition
Reason For Selling:  Retirement

Photos

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Coin Laundromat With Wash And Fold Photo 1




Print Listing Id: 700335658
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Also See: Franchise Opportunities > Franchise Resales > Connecticut Businesses For Sale > Connecticut Franchises For Sale > Connecticut Business Brokers



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