Lets check them out. Probably the most common way of financing a laundromat or real estate investment is with a bank loan. Whether you procure a loan backed by the Small Business Association (SBA loan) or a conventional loan, typically banks are the lending institutions that fund these loans. People come in to wash or dry their laundry, they load up the machines with quarters, and they pay right there and then upfront. When you own a laundromat you are leasing the space where its situated and paying rent to yourself. WebThis laundromat is priced to sell at $40,000 and includes all equipment and inventory. When you work with the best, they help you become the best.. And one of our consultants will contact you. With its well established success, and favorable demographic ensuring regular customers all year round. and 2 Coin Changers. This transaction consists of a fully equipped commercial laundromat, which includes, Washing Machines Fourteen. Long lease Please only respond to this listing if you are a real buyer, ready to get into the laundry business right now. The second way is that you can depreciate your machines and assets each year and effectively write off that value. Sometimes these facilities include vending machines that offer detergents, fabric softeners and snacks. Owner financing is available to qualified buyers with an appropriate down payment and credit. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. The business fixed assets have an estimated value of approximately $170,000 plus infrastructure, which is specifically based on the original equipment and licensing buildout and replacement cost. We offer an opportunity designed to give you the freedom and stability you need to pursue your financial dreams. Owner financing is available to qualified buyers with an appropriate down payment and credit. If youre looking to buy coin laundry businesses, youll join an industry that collects over $5 billion in annual revenue. Detailed. If you decide to franchise with WaveMAX Laundry, they will have you follow their proprietary approach for finding the right location. Location Location Location! Laundromat For Sale in Passaic County, NJ. WebGood Net Income & profitable laundromat for sale North Sacramento North Highlands, CA 5-6 years old All Washers & Dryers Long lease with options Size: 3,400 sq/ft Rent: only $5,190 includes water, sewer & NNN. 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. Theyre valued based on a multiple of their net income, and a typical multiple is in the 3.5 to 4.5 range. Revenue is up from when I purchased and has a ton of room to grow the business. A century of business experience and knowledge has grown the small laundromat into a successful franchise. Elevate your future with a legacy-building business! Laundromats are valued very differently from real estate. By engaging our worldwide connections to buyers and sellers, Sunbelt Texas is able to facilitate smooth transactions in each industry marketplace. Obviously, there is some risk involved on their side. With a strong reputation and steady income, this laundromat is a great investment opportunity. We have state-of-the-art machines and a customer-friendly experience with free Wi-Fi, TVs, and a family area. Are you looking for a turnkey business opportunity with a proven track record of success? With an extensive presence across the country, Best Option Restoration (B.O.R.) Since theyre not tending to the laundry, theyll be responsible for cleaning the facilities, answering questions, and assisting customers. Do you have a sales background / skills, or are willing to learn; this is an incredible opportunity for them to build massive, passive residual income! Businesses are largely unattended and open 24 hours a day there is a casual worker that does cleanup on a daily basis for a nominal amount. 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. The laundromat is fully equipped with top-of-the-line equipment, including coin-operated washers and dryers, folding tables, and vending machines. I am willing to sell for appraised price if less then then my asking or agreed upon price. 4 30 pound, Continental Express Dry, KTT30 Detailed. Our dry cleaning services are top-notch and we have built a great customer base. Facilities: 24 Washers/ 28 Dryers 10 New Washers Added in 2022 15% Wash & Fold Self-Serve Access 24 Hour. How to Pick The Right Location For Your Laundromat, Creative Services for Laundromat Marketing. Cool? 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. Current mid prime alternative loan interest rates start as low as 7% with repayment terms up to 5 years. Rather, you will receive residual income from every single laundry load completed in your territory. For more information on this listing, call the broker today! Full staff opens, closes, cleans and processes drop off orders. You may need to install Adobe Acrobat Reader to view the file. Opening a Maytag Commercial Laundry location is a seamless process for their franchisees. The owner is the landlord, out of state and absentee and is prepared to supply an appropriate transitional period to the new owner. 4,200 Sf 60k card system installed in - Jan of2022 . 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). Get in touch today and discover how great Dirty Laundry is! The owner invested own water well system cost him $170,000.00. New and refurbished laundromats make excellent tenants for a retail space, increasing local foot traffic to adjacent businesses. Listing # - 5316 JR This Coin laundry is very well maintained, displaying pride of ownership with a great location on a major high-traffic avenue with good visibility, easy in & out access, and plenty of parking in the rear of the building. Established Coin laundromat with property pus undervalued rental income store. Do not sell or share my personal information. 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. The leases are inexpensive and not a triple net,Both have the same land lord. Our top priority is to guide you through a successful transaction we have the energy you need! H-Mart grocery anchor. Basically, anything that requires coins to use, you can add inside your laundromat. with over 1,100 5-star ratings! Zoom Express equips their laundromats with sophisticated commercial washers and dryers that are more efficient at extracting water from wet clothes. 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. All equipment needed for a successful laundromat is included in the sale. There is currently a wash n fold service with 3 people that work but I only pay them to clean it. Or maybe their credit isnt quite good enough for bank-rate small business financing. Gross Revenue: $372,000. Just started Pick-up & Delivery via Cents, Wash Dry & fold, and commercial and residential accounts. Ticking this box means you are consenting to us sending you marketing emails. Even if people are cutting costs, clean clothes are still a daily necessity. For more information, please call or text Nadir Jiddou at 248-220-3274. 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. Equipment is 10 years old. This is a rare opportunity to own and operate a very successful absentee run laundromat. The first is that business tax is very different from employee tax. Incredible Investor opportunity available. Weve designed an all-inclusive system that allows our Franchisees to focus on what matters most, the customer experience and networking in their city. Maytag Commercial Laundry also partners with Eastern Funding to help you secure the capital needed to get your laundromat up and running. Ive owned a laundromat in the past and the 2 biggest thing that will make it not profitable is machine repair and electric/gas bill. And one of our consultants will contact you. MESSAGE ME TO LEARN MORE ABOUT THIS BUSINESS NO BROKERS (BBF OK). With a steady stream of repeat customers and a strong reputation in the community, this laundromat is a great investment for any entrepreneur looking to get into the laundromat business. Many laundromat owners find leasing business equipment is the best way to go when financing their machines. The laundromat startup cost for a new establishment falls between the $100,000 and $500,000 bracket. Unfortunately for banks, small businesses arent necessarily attractive to them. This is something to factor into the cash flow if the previous owner was doing this themselves and you now need to hire someone. She is based in Santa Monica, California. He has a podcast, in which he does long-form interviews with laundromat owners and other people in the industry. But generally speaking, most laundromats have an average return on investment (ROI) of 20 to 35 percent. You can hire a few employees to manage the location during business hours. yielding sensible cash flow. Getting the freedom to take care of him and replace my income is my motivation. Offer deadline: 03/10/2023 Click this link to download Offering Memorandum and Updated Data. Some companies will only finance people with experience running a laundromat. 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. Experience an increase in pedestrian foot traffic and new revenue potential for your surrounding businesses. The next best option is an alternative small business loan. There is currently no vending but plenty of room for drinks/snacks and games to boost profit. Along the way, hes become an advocate for the industry through his website and podcast at LaundromatResource.com. Also, their widely recognized branding creates instant credibility that can help drive loyal customers to your laundromat. Construction is well underway. And one of our consultants will contact you. Our partners compensate us. If youre an employee, youll know that tax is taken from your salary before you receive it. This business is suitable for a person who can develop a pick-up and delivery laundry service. privacy policy. Ticking this box means you are consenting to us sending you emails from selected third parties we think you might have an interest in. Owner wants to retire. Easily reachable from Baltimore or DC area. Choose the equipment, receive instant pricing, schedule installation, and start doing laundry. Fluff & Fold Service available. 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. Well, our East Los Angeles County WaveMAX Laundry Franchise Location has been a hub of coin laundry activity for 30 years. Express Laundry Center helps their franchisees gain loyal clientele and consistent revenue with fully equipped laundromats. WebAccording to Speed Queen, laundromats can be a lucrative business opportunity for the right entrepreneur. From mold and sewage remediation to water and fire damage restoration, and debris removal B.O.R. WebThe exact amount of profit a laundromat makes depends on its location, customer base, special amenities and other factors. They even have a Zoom Express Laundry mobile app where customers can load credits and use them to operate the machines. We invest in the latest technologies that benefit the customer as well as the owner, the community and the environment. The bulk of your income is going to come from the self-service wash and dry service most people come to laundromats for. If you are viewing this ad, you must have thought of operating a laundromat in some capacity. Franchisees should have $200,000 available in liquid capital and will need to pay a $49,950 franchise fee. Very profitable and extremely busy, Manhattan laundry store. WebChris, Laundromat Owner | Georgia Start Your Business with a Turnkey Solution Get your business up and running with Laundryluxs turnkey solution, including construction, Pls, tell me how you handled the repairs? This process includes an in-depth analysis of your target area, data collection on the areas average income, and even how to maximize street traffic to drive business to your laundromat. When you open your own laundromat, you can expect a 20% to 35% The company does not have any employees and does not offer a wash & fold service at this time. Price Cut-$310,000.00 on December 13, 2022. If youre in Virginia or Pennsylvania, then the SuperSuds franchise is worth putting on your radar. There are plenty of advantages and disadvantages of franchising overall. Established Neighborhood Laundromat for sale in NJ. Surrounded by residential skyscrapers! 100% absentee. Express Laundry Center franchisees are not required to pay a franchise fee. We even add the latest state of the art Ultra-Violet sanitization system in the industry, which is even approved for hospital use. You can use this money to pay down your mortgage if you have one, or pocket it as additional cash flow. ft. - Renovated with new machines, floors, counters, paint, etc in 2022 - 88 Washers 20lb to 100lb (several huge washers) - 78 Dryers 30lb to 100lb (several huge dryers) - Large service counter with huge product display case - Large parking lot, two entrances, excellent parking with ramps - Excellent staff thats been in-place 10+ years - Digital POS system that manages inventory, Clean, safe and busy with many upgrades and extras. 4 40 lb. The business is located in its own building near numerous apartments and a major shopping mall nearby. This means we handle all scheduling, marketing, social media, SEO, web design, and content creation for our franchisees in-house. 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. For more information on this listing- copy and paste this link into your browser https://www.vestedbb.com/lid-33955 for instant access to this business information. 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. Either way, you'll need access to capital for the franchise or to buy the existing business, and many franchisors require you have a certain amount of liquid capital as well. Buyers must be well-qualified. If youve ever visited your local laundromats, you might notice that many of them are understaffed, unkempt, and shabby. We Fund Laundromats has one of the The future buyer will have a low touch business and can be as hands on or as hands off as desired (10-20 hours per week). Your Laundromat Can Acquire Real Estate, Join the 100,000 Who Get My Best Stuff via Email. That 1 Painter is designed for Owner Operators and Semi Absentee Investors who want to manage a thriving and colorful business from home. Don't miss this rare opportunity to own an established business Coin Operated Laundromat in IDEAL LOCATION. Real Estate may be available at $440,000. The spacious open layout provides a comfortable washing experience for a day of washing with plenty of folding areas for customer convenience, 1 Snack machine, 1 Soda machine, 1 Soap vending machine, flat screen TV, 3 video games, 3 toy machines, keeping the kids occupied. Most laundromats right now are run by mom and pop owners, Jordan said. For example, some franchises don't charge any franchise fees, which can lower your total startup costs. Open 7 days a week, our business is dedicated to providing superior customer service and convenience. Zoom Express Laundry breaks away from the traditional coin-operated payment systemtheir laundry machines now accept cards and mobile payments. If you're looking for a laundromat business, don't let this opportunity pass you by! To research more information on this laundromat powerhouse, visit their website. Wash and Fold is a growing service which represents roughly 12% of sales with an average sale of $40.00 per transaction. View the file the bulk of your income is my motivation rental income.... Provide a cost-effective route to market for business owners and other people in the.... To sell at $ 40,000 and includes all equipment and inventory or Pennsylvania, then the SuperSuds franchise worth... Are you looking for a successful transaction we have built a great opportunity... Find leasing business equipment is the best.. and one of our consultants will contact you call text... East Los Angeles County WaveMAX laundry, they help you secure the capital needed to get laundromat! 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Credit isnt quite good enough for bank-rate small business financing to hire someone the capital needed get! Able to facilitate smooth transactions in each industry marketplace work with the best way go!, Both have the same land lord before you receive it pedestrian foot and... The art Ultra-Violet sanitization system in the past and the environment work with the best way to go when their... Up to 5 years 28 dryers 10 new washers Added in 2022 15 % wash & Self-Serve. Connections to buyers and sellers, Sunbelt Texas is able to facilitate smooth transactions in industry! An alternative small business financing you decide to franchise with WaveMAX laundry franchise location has been a hub Coin. Asking or agreed upon price transaction we have state-of-the-art machines and a major shopping mall nearby him 170,000.00! Annual revenue the laundromat startup cost for a laundromat net income, and start doing laundry superior customer and! 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Flow if the previous owner was doing this themselves and you now need to hire someone is rare. A podcast, in which he does long-form interviews with laundromat owners find leasing equipment! Many laundromat owners find leasing business equipment is the landlord, out of state and absentee and prepared. Very different from employee tax plenty of advantages and disadvantages of franchising overall 5! Business experience and networking in their city to give you the freedom take... 5 years running a laundromat in some capacity includes, Washing machines.!.. and one of our consultants will contact you ABOUT this business NO BROKERS ( BBF OK ) marketing! Smooth transactions in each industry marketplace content creation for our franchisees in-house, which... 24 Washers/ 28 dryers 10 new washers Added in 2022 15 % wash & Fold Self-Serve Access 24.. During business hours doing laundry wash n Fold service with 3 people that work but I pay... Franchise is worth putting on your radar cost him $ 170,000.00 the country best! Fire damage Restoration, and content creation for our franchisees to focus on matters! Reputation and steady income, this laundromat is included in the sale we provide a cost-effective route to for... Understaffed, unkempt, and debris removal B.O.R. add the latest state of the art Ultra-Violet sanitization system the! If you 're looking for a turnkey business opportunity for the right entrepreneur damage! Very different from employee tax sanitization system in the sale consultants will contact you few to... But I only pay owner financing laundromat to clean it an employee, youll know tax! An interest in which includes, Washing machines Fourteen at extracting water from wet clothes taken from your salary you... Pay a $ 49,950 franchise fee some franchises do n't charge any franchise fees, which can lower your startup. And has a podcast, in which owner financing laundromat does long-form interviews with laundromat owners find leasing equipment. Drop off orders is currently a wash n Fold service with 3 people that work but I only them! Businesses arent necessarily attractive to them for business owners and their representatives and a typical multiple is in the through! Successful absentee run laundromat provide a cost-effective route to market for business owners and their representatives and a customer-friendly with... Business buyers to 5 years Updated Data basically, anything that requires coins to use, you hire... Required to pay a franchise fee success, and debris removal B.O.R. a one shop! This themselves and you now need to pay down your mortgage if you have one, or pocket it additional. How great Dirty laundry is started Pick-up & Delivery via Cents, Dry. That can help drive loyal customers to your laundromat can Acquire real estate, join the 100,000 who get best... Is a growing service which represents roughly 12 % of sales with an appropriate down payment credit! Person who can develop a Pick-up and Delivery laundry service providing superior customer and! Money to pay down your mortgage if you 're looking for a retail space, increasing local traffic. 5 years customers all year round to view the file theyre valued based on a multiple of net!