Renovated Coin Laundry/Laundromat in Wayne County
Listing Price: $319,999
- Asking Price: $319,999
- Cash Flow: N/A
- Gross Revenue: $138,551
- FF&E: $200,000
- Inventory: $2,500
- Rent: $3,150
- Established: 1990
Business Description
Three Year Old Equipment Package For This Coin Laundry
This laundromat was beautifully renovated three years ago with mostly new equipment, electrical work, and interior renovations. It is a free-standing building with plenty of parking. All washers and dryers are Huebsch Models, with 51 machines in total. They offer wash, dry, and fold services, dry cleaning, and alteration services. They have a few commercial accounts for wash, dry, and fold services, making up 25%- 35% of the revenue.
There are plenty of upside opportunities to increase revenue: add pick-up and drop-off residential service, expand commercial accounts, partner with banquet facilities and restoration companies, add credit card readers to machines, add an ATM, accept mobile payments, add more vending and arcade machines, and offer more laundry supplies for sale. Even a nook is available to turn into a small coffee/snack shop.
This location has been a coin laundry for 34 years.
Detailed Information
Location: Wayne County, MI
Inventory: Not included in asking price
Real Estate: N/A
Building SF: 4000
Lease Expiration: 2025-08-31
Employees: 1FT / 1PT
Facilities: 4,000 square-foot stand-alone building located on a busy roadway. 51 Huebsch machines - 26 washers and 25 dryers. Bill coin changer, Vend Rite 8-column soap machine, and folding tables.
Competition: There is no competition in the immediate area.
Growth & Expansion: Implement residential pick-up and delivery service and acquire more commercial accounts to grow the business.
Financing: Cash or Personal Loan
Support & Training: Seller will train for 14 days for a minimum of 4 hours a day at no additional cost.
Reason for Selling: Other Commitments
Lease Info: 5 year extension option on the lease
- Listing ID: 54063
- BizBuySell ID: 2189536
