Detailed, Wash and fold laundry, dry cleaning and Tailoring, all in one store. Equipment is professionally maintained. Detailed, This will sell quickly! For Strong Qualified Buyer $7,500 Referral Fee Paid on Buyer at Settlement to anyone referring the Buyer Contact Exclusive Agent Richard Ehrenreich for Details, **A special website has been setup for this business (www.wash4sale.com) with video tours, pictures, interviews with the owner, loan pre-approval, and more. It wasnt just the income potential that intrigued Jordan. If youre in Michigan, Texas, Florida, or Pennsylvania, then Zoom Express Laundry is a laundromat franchise exclusive to your area. WebLocated on a busy street in Hallandale, this store has great street presence and plenty of parking. The business is new and will continue to develop and can be further expanded by the new operator with a marketing plan and local advertising to develop wash and fold. 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. And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free. Laundromat owners usually operate facilities that are primarily self-service oriented. 40% of business is from drop-offs. The wash n fold drop off pays them. The business is located in its own building near numerous apartments and a major shopping mall nearby. Waranty still remains for major parts. Owner currently holding right of first refusal to buy store #2 property when property owner decides to sell and property owner very likely to extend the offer to new buyer. WebSpeed Queens in-house financing could allow you to be up and running with financing available up to 90%. Listen in your favorite podcast app or directly in your browser. Minimum liquid cash requirement: $100,000. All equipment needed for a successful laundromat is included in the sale. Status: New. The laundromat is approximately 2,628 sq. There, he realized his purpose: to merge business with environmental consciousness. One of the most fun parts of learning how to start a laundry business is choosing the business name. We believe everyone should be able to make financial decisions with confidence. We offer an opportunity designed to give you the freedom and stability you need to pursue your financial dreams. Some businesses offer some other services that require labor, like folding clothes. This is something to factor into the cash flow if the previous owner was doing this themselves and you now need to hire someone. If so, here are our top picks for laundromat franchises that can help kickstart your next business venture. Since customers perform the labor of washing and drying clothes, laundromats have minimal staffing needs. Zoom Express equips their laundromats with sophisticated commercial washers and dryers that are more efficient at extracting water from wet clothes. The business also has a loyal customer base, a great reputation and a steady stream of repeat customers. 3,200 sqftstore in high traffic, prime location with so much growth potential. However, there are many services you can offer and ways to generate additional income streams. The success or failure of a laundry business depends on many location variables. San Marcos is a quaint college town very close to Austin. The first step in deciding you want to open a laundromat franchise is choosing which machine provider you want to work with. As service businesses go, laundromats are fairly passive. The potential to scale this business is endless. There are very few large chains owning dozens or hundreds of them. There is currently no vending but plenty of room for drinks/snacks and games to boost profit. There is none of that with laundromats. Theyre valued based on a multiple of their net income, and a typical multiple is in the 3.5 to 4.5 range. Very Busy Location. 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 I know because I was in your shoes. 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. Most laundromats right now are run by mom and pop owners, Jordan said. 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. They even have a Zoom Express Laundry mobile app where customers can load credits and use them to operate the machines. We Fund Laundromats has one of the The seller is willing to help a new buyer to get the financing. 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. Even with long store operating hours, you dont have to be on-site all day, every day. Proximity Northside 45 North and beltway 8. Jordan recommends talking to a couple of laundromat-specific lenders. In this highly fragmented space, there isnt a national brand that stands out. Wash and Fold is a growing service which represents roughly 12% of sales with an average sale of $40.00 per transaction. So, heres the deal: Getting into the laundromat business isnt cheap. It involves a brick-and-mortar facility full of expensive laundromat equipment! Keep reading. Making a budget and sticking to it is even more important in business than in your personal life. Udemy offers inexpensive courses on budgeting that are worth checking out. Why, you will ask Im sure, well the repair bills on the washers and dryers ate me up. Something went wrong. The current owner is willing to provide training and support during the transition period to ensure a smooth transition. The business is located in a major shopping center in Portland. Serious inquiries only. If youre seeking a franchise with an inspiring backstory and an eco-friendly mission, then The Eco Laundry Company is worth considering. Our top priority is to guide you through a successful transaction we have the energy you need! ft. - Renovated with new machines, floors, counters, paint, etc in 2021 - 52 Washers 20lb to 100lb (several huge washers) - 58 Dryers 30lb to 100lb (several huge dryers) - Large service counter with huge product display case - Large parking lot, excellent parking with ramp - Surrounded by apartments - Excellent staff thats been in-place 5+ years - Digital POS system that manages inventory Location #2 (Pasadena) - Price $1.0M | Cashflow: $160K - We invested $1.5M in this store (purchase + renovations) - Pre-approved for financing from reputable lender that knows the industry - Huge store. Blawenburg, New Jersey (Somerset Co.) | Find More Business with Asking Prices Between $500k and $1M. The first is that business tax is very different from employee tax. Long term lease remaining. Both will typically be included in small business general liability insurance that you can get from trusted From mold and sewage remediation to water and fire damage restoration, and debris removal B.O.R. This business has a very stable and growing income. You can change your mind at any time by clicking unsubscribe in the footer of our emails. Each laundromat owner runs their business differently, and he said there are often some great opportunities to be found. Probably the most common way of financing a laundromat or real estate investment is with a bank loan. Online marketing campaign in place. Our partners cannot pay us to guarantee favorable reviews of their products or services. 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 initial franchise fee for The Eco Laundry Company is $30,000 and you can expect an initial investment of at least $230,000. All financial products, shopping products and services are presented without warranty. $340,000.00 on Feb 3, 2023. And one of our consultants will contact you. Managers should service the machines and manage the use of coin machines on premises. Blawenburg, NJ. Rather, you will receive residual income from every single laundry load completed in your territory. Store security and anti-theft practices are implemented, and we have the best security and camera systems in the industry. The reason we are selling is multiple sclerosis. Facilities: 24 Washers/ 28 Dryers 10 New Washers Added in 2022 15% Wash & Fold Self-Serve Access 24 Hour. WebLarge 2 br house owner finance. One of the best laundries in Philly! Fantastic Hudson county laundromat! We pride ourselves on having the cleanest, safest, and well-kept laundromat in town. This is the one you've been waiting for. For more information on this listing- copy and paste this link into your browser https://www.vestedbb.com/lid-35200 for instant access to this business information. BusinessesForSale.com is the world's most popular website for buying or selling a business. Iconic coin-op laundromat and dry cleaning drop store in business since the late $105,000. The facility is approximately 1,800 square feet and is owned by the business owner. Fluff & Fold Service available. Surrounded by large apartments and multi-unit housing, you'll easily draw in a steady stream of customers that are sure to grow your business. Your other option is to buy an existing laundromat. DOWN PAYMENTS FOR LAUNDROMATS START AT BusinessesForSale.com is committed to protecting your privacy. Lead Assigning Editor | Small business finances, investing, banking. Their facilities feature high-speed Continental ExpressWash washers, which generate up to 381 G-force extract speeds. 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. 30 years of Laundromat Customers can't wait for you to launch the grand re-opening. The net operating income of a laundromat is calculated by deducting all the operating expenses from the income a laundromat is making. The owner is willing to enter into a long term lease with the buyer. This is a great part-time business for people from all walks of life wishing to supplement their income. Large parking lot suitable for RVS We dont have the numbers on the stores because they have been re-tooled, We have the numbers for the last three months of last year and for this year but the one store has been closed for remodeling. The facility is approximately 1,800 square feet and is owned by the business also has a loyal customer,. 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