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The owner of this business is absentee; with a full-time manager and five laundry techs, it’s selling at only a 2.6 multiple! This quaint laundromat established in 2012 is located in a small town of about 5,000 residents, but in any given time of year there are 30,000 to 40,000 contract employees in town who need laundry services. Incoming companies can contract with this laundromat for all their laundry needs. On top of your typical, pay-per-load service, this 3600 square foot facility also offers a drop-off service where employees will wash and dry the laundry per the customers’ requests. This activity has brought the business to a 54% profit margin. Purchase of this opportunity would include $148,650 in assets. A 10% down payment of $91,500 returns $231,780 in the first year after debt payments – a 253% return on investment.
The pay-per-load machines utilize a card service as opposed to cash and coin. This allows two advantages: They can adjust the price of their loads down to the half-penny if wanted and they don’t have to do in increments of quarters. They can also create custom load prices creating self-service upcharges. A load costs more for hot water over tap temperature. A dryer ran on hot costs more than a dryer ran on room temperature air. If a customer doesn’t have a credit or debit card, they can use cash to purchase a laundry card that works with the machines.
With the cost of water, it would be hard for a new laundry business to come in as approval would be unlikely. Competition in the area is very low. As an additional service and point of revenue, this laundromat also offers a tanning booth and showers customers can pay for while they wait for their laundry to finish.
Real Property Included
Watford City, North Dakota
3600 Sq. Foot Facility
Expand Starching/Dry Cleaning Services
Purchase Price: $915,000
10% Buyer Down Payment: $91,500
15% Seller Financing: $137,250
75% Bank Loan: $686,250
A 10% down payment of $91,500 returns $231,780 in the first year after debt payments!
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