The median cost to open a laundromat from the ground up is approximately $1.2 million, and you can expect to pay a similar price for an existing laundry business. And one of our consultants will contact you. Speed Queen's initial franchise fee is $30,000. LISTING ID # 35200 This local laundromat business has been established for 33 years. Please check your entries and try again. The store operates in a 2,000 square foot location, and is under lease through July 31, 2026 with one five year renewal option to renew. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. 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. I'll also send you my free guide: The 5 Fastest Ways to Make More Money. Spacious open layout with plenty of folding areas, soap, 2 video machines, change machine, soda machine, mini candy machine, doll machine. What Competition? Your other option is to buy an existing laundromat. Be the next to join our team of 70 Franchisees and 150 locations sold nationwide. I found it with the help of Advanced Licensing, a national licensing company that has been putting people in business for themselves since 1982. But if youre looking to secure SBA laundromat financing, youre going to need to make sure the laundromats books are in great shape. Retiring Owner Offer 1 Year of Training & Long Term Mentoring 2022 incoming sales are + 9% above 2019 pre-Covid Sales Large Plant w/20% Excess Capability Perfect to Expand Only Regional Drycleaner, Shirt & Linen Laundry Plant Seller Financing for Strong, Qualified Purchaser 3 Busy Seasons are better than the normal 2 Seasons Established Route Delivery & Wash-Dry-Fold services Stable & Profitable Business for over 40 Years Good working Equipment with recent upgrades Strong Covid Recovery 29% over national DC average Great Family Lifestyle with Low Cost of Living! Whether you procure a loan backed by the Small Laundromats are valued very differently from real estate. - The operator proceeds to a nearby Laundromat of their choice to wash, dry, and fold the customers laundry. The facility is approximately 1,800 square feet and is owned by the business owner. Key benefits: Semi-absentee - requires just a few hours each week Low employee count wash, dry, fold services pay all employee costs Built for exceptional cash flow and quick ROI Multiple revenue streams Wash, Dry, and Fold, Vending, & mobile Recession resistant, essential business Industry leading, top brand name High Efficiency equipment ***Third-party financing available for qualified buyers. Owner wants to retire. Save this Business Print. If youre not sure if a laundromat franchise is the right business for you, check out these five benefits that could make this a savvy business move. Absentee management. He likes this option for first-time buyers as you get to not only leverage their finance but also their expertise in this area and industry knowledge. The wash n fold drop off pays them. Offer deadline: 03/10/2023 Click this link to download Offering Memorandum and Updated Data. 8,000 sq. Store security and anti-theft practices are implemented, and we have the best security and camera systems in the industry. - The wash, dry, and fold operator will pick up the laundry at the customers location. Our partners compensate us. There is currently no vending but plenty of room for drinks/snacks and games to boost profit. Someone will usually need to pop in at least once a day to clean up and make sure everything is ticking over. H-Mart grocery anchor. With a large 2600 sq ft store and a full basement, there's plenty of space for operations. 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. Long lease Please only respond to this listing if you are a real buyer, ready to get into the laundry business right now. This article originally appeared on JustBusiness, a subsidiary of NerdWallet. To do this you require specialized and customized industrial laundry equipment and facilities. $5,000 Buyer Referral fee paid on Sale (ask agent for details) With all of this, what more is there to LOVE. In their mission to go green, each location offers reusable and eco-friendly laundry bags, uses energy-efficient machines, and even runs their business on 100% pure wind energy. He understood that laundry was a chore for most and the faster you finish, the better. And the same is true within laundromat franchises specifically. Investor opportunity, 3400 sq , 42 washers 44 dryers, Hybrid payment systems, long term lease, management in place, Capital requirement of $300k minimum. The equipment is in excellent condition, including a new Columbia CH00VGH dry cleaning machine. Also state what your time frame is. WebLaundromat (Can be located anywhere) Turnkey Business Financing available Retiring Owner Offer 1 Year of Training & Long Term Mentoring 2022 incoming sales are + Save $200,000 Cash Flow: $70,000 Queens Co., NY View Details Queen County Laundromat Business for sale Queen County Laundromat Business for sale Financing available The seller's net cash flow, after paying all the expenses, is $275,000 a year. One of the best business situations. And one of our consultants will contact you. Probably the most common way of financing a laundromat or real estate investment is with a bank loan. 4 40 lb. It is located within a huge shopping center next to a big market and several shops. This industry is on fire as stores with older technology cannot afford to upgrade. Sales are generated from self-service walk-in customers as well as drop-off (wash-dry-fold), and even Pick-up and Delivery for commercial and residential customers. The laundromat startup cost for a new establishment falls between the $100,000 and $500,000 bracket. Many laundromat franchises have these benefits, and more. 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. Location: Kings County, New York, US. But for the most part, the service a laundromat provides is the machines people use to wash and dry their clothes themselves. 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. You can set the doors to open automatically in the morning, then customers go full self-service with the machines. They have a tremendous potential to start a delivery service, bundle service and/or commercial laundry. I searched for a better way to be part of this multi-billion dollar industry. WebLAUNDROMATS GENERALLY SELL FOR BETWEEN $30,000 AND $2,000,000 FOR THEIR FULL PRICE, DEPENDING ON THE PROFIT, MACHINERY, LEASE AND SIZE OF THE LAUNDROMAT. In terms of revenue, a coin-operated laundry facility can generate anywhere from $15,000 to $300,000 per year. So how do we make money? 40% of business is from drop-offs. But generally speaking, most laundromats have an average return on investment (ROI) of 20 to 35 percent. Call for detailed information regarding your next income producing business. Please only respond to this listing if you are a real buyer, ready to get into the laundry business right now. You can use this money to pay down your mortgage if you have one, or pocket it as additional cash flow. Laundrylux can fill your vacant space or renovate an aging store. The laundry is partially attended, provides wash, dry and fold services and has systems in place to automatically unlock and lock the doors when the laundry is open for business. He wanted a business that would generate passive income and yield better returns than real estate. Shack Shine has changed that. WaveMAX is actively seeking franchisees to expand their multi-unit franchise empire. That 1 Painter is designed for Owner Operators and Semi Absentee Investors who want to manage a thriving and colorful business from home. And one of our consultants will contact you. All equipment needed for a successful laundromat is included in the sale. We leave the competition behind. 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. Income should be able to reach $350k with someone who can put a little time into it. Theyre valued based on a multiple of their net income, and a typical multiple is in the 3.5 to 4.5 range. 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. Obtain financing You need capital to start and run a business. Our modern, 2.5 year old equipment includes 18 washers and 10 stackable dryers. Very competitive pricing and steady employees. The initial franchise fee for The Eco Laundry Company is $30,000 and you can expect an initial investment of at least $230,000. Im looking to replace my driving buses job and own a laundromat. While the initial investment is high, it is a stable industry with an in-demand service people always need to clean clothes! Please provide, best date and times that you are available to speak. Two coin laundromats in prime locations close to each other in Seattle area. Plug, play and SCALE! The owner invested own water well system cost him $170,000.00. You need to have enough money to cover the costs of leasing or buying a space, purchasing laundry equipment, and hiring employees (if The current owner is willing to provide training and support during the transition period to Ever since their founding in 2012, WaveMAX has been challenging the average laundromat business norms. With lots of foot traffic coming through your laundromat, you could add advertising in a number of places. 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. Disclaimer: NerdWallet strives to keep its information accurate and up to date. Get to your goal faster and more easily with financing from Eastern Funding. 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. He is selling for significantly less than he invested (purchase + renovations), so this is an excellent investment for a buyer that has the time to focus on the business. If want to tap into this lucrative industry and join a laundromat franchise, see below the benefits of owning a laundromat and a list of the top laundromat franchise opportunities. This is a relatively low-maintenance business, so you can hire a few employees to manage the store when youre not around. There is none of that with laundromats. Wash and fold laundry, dry cleaning and Tailoring, all in one store. That 1 Painter is a young and vibrant franchise focused on delivering happiness to our customers and unmatched value to our Franchisees. 3 Year Average Return on the investment - 19.5% pa 3 Year Average Return on the revenue - 24.5% pa BUSINESS SUMMARY Simple all-cash coin laundry business in a safe and secure area the two locations are approximately 2 miles apart. Clean clothes arent limited by the seasonstheyre in demand throughout the year. (20) 20 lbs. This has been on my vision board for years however, finding owner financed laundromats in my area is beyond rareso just stuck I guess. Drop off Dry Cleaning. Large card laundromat with own parking space. Jordan said there are a couple of different business models most laundromats use, which are: Unattended laundromats are exactly how it sounds, no one is attending them. Most of the equipment is new and has been replaced in the last year. By submitting this form, you confirm that you agree to our terms and conditions. Has 46 dryers and 31 washing machines. Pre-qualified offers are not binding. 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. Contact Steven Schaefer at 631-292-2708 for more information. This is a great part-time business for people from all walks of life wishing to supplement their income. Location, Location, Location Established Successful Laundromat in Clayton County with multiple revenue streams. 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. Total price $85000. Buildings are built between 2002 and 2017. With a franchise, youre backed by a widely recognized brand, you often receive business support from the franchisor, and you have the convenience of following a proven business plan. The new owner can run semi-absentee or eliminate the Manager and run it for more cashflow. Minimum liquid cash requirement: $100,000. App Pay Payment System. San Marcos is a quaint college town very close to Austin. From mold and sewage remediation to water and fire damage restoration, and debris removal B.O.R. $340,000.00 on Feb 3, 2023. Been turned down? 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. Growth & Expansion: This is only the beginning. Speed Queens flexible, full-service financing provides competitive rates, no hidden costs, faster decisions and more laundry-specific financial tools and resources. 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