WaveMAX has also teamed up with Electrolux to give you financing options on their commercial washing and drying machines. But generally speaking, most laundromats have an average return on investment (ROI) of 20 to 35 percent. Now Accepting Offers. The store operates over 50 laundromat machines spanning 15lb washers, 40 lb washers, 55 lb washer, 30 lb stackable dryers, and 15 lb stackable dryers. The new owner can run semi-absentee or eliminate the Manager and run it for more cashflow. Top-rated Laundromat provides additional steady revenue https://www.diamondlakeslaundry.com/, $1.8 M Sales (projected 2023) due to loss of only professional Drycleaning competitor in a 50-m radius Long-term Training by Retiring Owner: Dominate Dry Cleaner & Laundry with Drop Store/Laundromats Annual Retail Sales history: $1,400,000 in Y-E: 2021 & $1,700,000 in Y-E 2022 Y-E: 2023 Sales up & on target to be at $1,800,000 with 35% + Owner's Profit Projected increased volume will require minor variable cost increases/MAX to profit Added Value (Sales & Profits), but the Price stayed the same for fast SALE of Biz + Real Estate Sizeable Re-investments MADE: NEW Facilities & Equipment Family owns all Biz Real Estate & Buildings (Available but not included in Price) Retiring Owner is 2nd Generation of the Family and will offer a year of Training & Support Huge, Modern Fully Automated & Air-Conditioned Central Plant Market Strong due to Regional Shopping Center & Minimal Office-Dominance Long-Tern Commercial Bank Loan Avail. 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. He wanted to spend more time with his family, and laundromats are the perfect business for that. Disclaimer: NerdWallet strives to keep its information accurate and up to date. Opening a Maytag Commercial Laundry location is a seamless process for their franchisees. You do not have to pay tax on the amount you depreciate your assets by. We leverage our network of 4,000 competing commercial lenders to provide your business the largest selection of commercial financing options. 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 first step in deciding you want to open a laundromat franchise is choosing which machine provider you want to work with. In economic terms, the demand for washing clothes is inelastic. 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There, he realized his purpose: to merge business with environmental consciousness. That 1 Painter harnesses the power of parent brand, ResiBrands which includes ResiConnect, our in house Appointment Center, and ResiCreative, our in house Marketing and Creative team. LISTING ID # 34383 An attractively-located laundromat lies in the heart of several apartment buildings in Brooklyn. 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. After reading the list above, you know that some providers require you to pay for the franchise while others do not. This article originally appeared on JustBusiness, a subsidiary of NerdWallet. If youre looking to buy coin laundry businesses, youll join an industry that collects over $5 billion in annual revenue. Jordan has been able to achieve both of those things through buying laundromats. The future of residential & commercial laundry is all set up and ready for a savvy entrepreneur. Store has 18 Washers & 14 Dryers, Renovated in 2021. If customers want to stay near their laundry, wouldnt they rather stay in a facility that has free Wi-Fi, comfortable chairs, kids play areas and other entertainment features? No third-party financing. There will always be a need to clean garments no matter the situation. Call soon as this one won't last long! Whether you procure a loan backed by the Small Since customers perform the labor of washing and drying clothes, laundromats have minimal staffing needs. We are changing the customer experience for good with a blend of innovation and excellence in customer care. Its as simple as that. ft. with the same size of the basement. Jordan is quick to say that hes not a qualified CPA or a lawyer, and your individual circumstances may differ from his. Wanting to make the laundromat more enjoyable, all SuperSuds locations are furnished with flat-screen TVs, WiFi, and radio. Very Busy Location. Equipment is professionally maintained. Ticking this box means you are consenting to us sending you marketing emails. WaveMAX is actively seeking franchisees to expand their multi-unit franchise empire. The leaders at Speed Queen Laundromats have modernized their processes with cloud-based management controls and the latest commercial washer models. Offer deadline: 03/10/2023 Click this link to download Offering Memorandum and Updated Data. We believe everyone should be able to make financial decisions with confidence. WebLaundromat Owner Financing For Sale Union County , New Jersey, US Quick Sale Asking Price: $250,000 Furniture / Fixtures and Inventory / Stock included Sales Revenue: Unfortunately for banks, small businesses arent necessarily attractive to them. 40% of business is from drop-offs. These simple, local, cash-flowing businesses have been around forever, but surprisingly this is the first time discussing them in detail on the show. Two stores, for one price ,one is comprised of Dexter equipment, and the other is a Speed Queen . Recently renovated with new machines in 2021 & 2022. Robert Beaupre leads the SMB team at NerdWallet. In terms of laundromats, Jordan is always on the hunt for more great deals. 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. Franchisees should have a minimum of $100,00 in liquid capital. He has covered financial topics as an editor for more than a decade. These loans provide long-term, fixed-rate financing with 10% down if you meet certain criteria. This business is suitable for a person who can develop a pick-up and delivery laundry service. 54 Washers,56 Dryers. 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. Financing: Owner financing from to 40-50% to Qualified Buyer offering Secured Collateral. Laundromats for sale often include coin-operated washers and dryers of varying sizes. When you join Express Laundry Center, you are given ongoing franchise support. Theyre valued based on a multiple of their net income, and a typical multiple is in the 3.5 to 4.5 range. The washers and dryers accept coin and credit cards. A Small Business Administration loan is often seen as the best business loan around. A Census national summary report shows that in the 3rd quarter of 2014 there were 24,250,000 rentals in the United States. 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. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser. Do not sell or share my personal information. Heres a look at the 10 most compelling reasons why owning a laundromat is according to Jordan the best investment you can make.. Financing available. Plug, play and SCALE! Dansbury equipment and securty is automtated and accessed remotely. Owner financing is available to qualified buyers with an appropriate down payment and credit. - After that, the operator delivers the clean, dry, and folded laundry back to the customer, who then makes the payment on the app. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Growth & Expansion: Strong Secondary Biz Opportunities. The award-winning Side Hustle Show is a Excellent location, most desired area in Miami city, low lease and managerial costs. Some companies will only finance people with experience running a laundromat. Here is a list of our partners. Our Grand Reopening is slated for late October. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); GUD Capital is a nationally recognized leader in the financing industry for providing the best business lending solutions available. Ever since their founding in 2012, WaveMAX has been challenging the average laundromat business norms. Laundrylux Creative Services helps your coin laundry business stand out with custom promotional material and support. Fluff & Fold Service available. 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. You need to have enough money to cover the costs of leasing or buying a space, purchasing laundry equipment, and hiring employees (if I searched for a better way to be part of this multi-billion dollar industry. This laundromat isnt cutting any corners in their efforts to be as green as possible. The owner is selling because his other business is much bigger (15x) and this takes too much time. With an increase in renters comes the need for coin-operated laundromats. $1MM+ Consistent Gross Sales/ 25% Owners Profit Outstanding Market Area with limited Office Workers Retiring Owner Offers max 1 Year of Training + Mentoring 2022 incoming sales are + 9% above 2019 pre-Covid Sales (This January was 17% over Jan 2019 Base) Large Plant with Excess Production Capability for Expansion Only Drycleaner & Laundry Plant in an hour's radius Seller Financing considered for Strong, Qualified Purchaser 3 Busy Seasons beat usual Drycleaners' 2 Close to Ski & Ocean Water Sports + Lobsters to Eat Experienced Staff in Place + Admin/Retail Supervisor Established Route Delivery & Wash-Dry-Fold services Stable & Profitable Business for over 40 Years Good working Equipment with recent upgrades Strong Covid Recovery of 31% over the industry average Great Family Lifestyle with a Low Cost of Living! 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. If you want a couple to check out, Jordan mentioned hes used Eastern Funding, and Alliance Funding Group. SOME EXISTING OWNERS WILL " OWNER FINANCE" THE SALE OF THE LAUNDROMAT. Unfortunately, my search came up empty as the inventory available were either priced too high or would involve too much additional capital to update the business. 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. Our opinions are our own. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. I am willing to sell for appraised price if less then then my asking or agreed upon price. Eastern Funding offers financing that enables operators to run their multi-housing/route business on a large scale. Call me today to take advantage of this opportunity with a great location. No Comp/No Zoning Now Accepting Offers. They have teams proficient in marketing, advertising, and public relations available for any questions you might have. Three long term employees. Your other option is to buy an existing laundromat. And unless you had an extra $300,000 - $1M lying around (which I didnt) or planned to carry a debt service for the first 10 years of your startup, building a new laundromat was also not an option for me. We Fund Laundromats has one of the Pre-qualified offers are not binding. North Port, FL. 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. Vended Laundry Are you looking to buy an 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. Building a loyal clientele within your locations community will help you create a consistent revenue stream. And one of our consultants will contact you. If there is a service component or some other reason why customers cant self-serve, youll need to have a member of staff in the laundromat all day. 12 years on lease Please only respond to this listing if you are a real buyer, ready to get into the laundry business right now. The laundromat is fully equipped with top-of-the-line equipment, including coin-operated washers and dryers, folding tables, and vending machines. When you assume a loan, you dont originate a new loan, you simply transfer the old loan from the seller to you and you take over the payments. The benefit of assuming the existing loan as laundromat financing is that it is typically cheaper than starting a new loan and the business should be able to support it. This will not last. But for the most part, the service a laundromat provides is the machines people use to wash and dry their clothes themselves. This frees up your time and energy to create a work-life balance many entrepreneurs strive for. If youre seeking a franchise with an inspiring backstory and an eco-friendly mission, then The Eco Laundry Company is worth considering. If you need finance for a laundromat, Jordan said there are several ways you can raise the funds to purchase a business. They both have options to continue into the future. is a leader in the restoration industry. Thats why SuperSuds locations are always located next to spacious parking lots and their laundromats are equipped with large-load and high-speed washers and dryers. Detailed. Copyright 2018 GUD Capital LLC. Price Cut-$310,000.00 on December 13, 2022. And choosing a reputable franchise means youll already have a loyal customer base waiting for you. Online marketing campaign in place. Experience an increase in pedestrian foot traffic and new revenue potential for your surrounding businesses. Newer laundromat business by landlord in an urban city of Union County, New Jersey. Their facilities feature high-speed Continental ExpressWash washers, which generate up to 381 G-force extract speeds. Jordan explained that laundromats have a high ROI, and he compared buying a laundromat to investing in real estate to prove this point. 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. State of the Art Electrolux Washers. 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. Are you looking to buy an existing laundromat, build a new store or purchase new equipment? 4 55 lb. There are very few large chains owning dozens or hundreds of them. Has 46 dryers and 31 washing machines. 4,200 Sf 60k card system installed in - Jan of2022 . as a provider of laundry services, being able to handle large volumes of laundry quickly and to client specifications is essential. Self service laundries historically perform very well during recessionary times! Our store is staffed during all operating hours to provide the best customer service and cleanest environment possible. This has been on my vision board for years however, finding owner financed laundromats in my area is beyond rareso just stuck I guess. I agree if you, as a owner place in the right location and keep it clean it will make you money. With easy access to parking, this high traffic area has endless possibilities. 12 years on lease Please only respond to this listing if you are a real buyer, ready to get into the laundry business right now. This is largely due to the continuous demand for clean clothes. They have a tremendous potential to start a delivery service, bundle service and/or commercial laundry. We will also send you information about related business and franchise events. $5000 down. Merchant cash advance financing isnt a loan, but is instead the sale of the banks future deposits in exchange for an upfront sum. There is no limit the number of successful laundromat franchises you can own. 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. To the best of our knowledge, due to various circumstances, no other new competitors are expected near to this business. This To learn more, complete an inquiry form on their website. Seller will finance down payment from buyer. The current owner is willing to provide training and support during the transition period to It wasnt just the income potential that intrigued Jordan. 3 Sites + 5 Acres Expansion. A unique aspect of coin operated laundromats is the fact that a singe laundromat location can generate as much as $300,000 in revenue annually with very little overhead, while also having no inventory or receivables. $50,000 worth of hangers and plastic inventory is included, making this a turnkey opportunity for the right buyer. We pride ourselves on having the cleanest, safest, and well-kept laundromat in town. WebLocated on a busy street in Hallandale, this store has great street presence and plenty of parking. Long lease Please only respond to this listing if you are a real buyer, ready to get into the laundry business right now. Most of the equipment is new and has been replaced in the last year. When evaluating offers, please review the financial institutions Terms and Conditions. BusinessesForSale.com is committed to protecting your privacy. Some other ideas (and these are things Jordan has done) include installing a turnstile to use the bathroom, a massage chair, and some small ride-along toys for kids. 3200 sq 40 Washers ,41 Dryers. There is no competition, nor known planned competition, within almost 5 miles and very limited comp within 10 miles. Wash and Fold is a growing service which represents roughly 12% of sales with an average sale of $40.00 per transaction. The facility is fully equipped with large, well-maintained machines and efficient wash/dry cycles. With a simple application, bank statements and YTD financial statements, a laundromat owner can obtain financing for their business in the matter of days to a couple weeks. Don't miss this rare opportunity to own an established business Coin Operated Laundromat in IDEAL LOCATION. Wash and fold laundry, dry cleaning and Tailoring, all in one store! Traditional bank term loans or lines of credit is usually the first choice of laundromat owner seeking a small business loan. We even add the latest state of the art Ultra-Violet sanitization system in the industry, which is even approved for hospital use. Proximity Northside 45 North and beltway 8. And one of our consultants will contact you. There are various ways that you can secure funding, including: Investors Family Savings (owners capital) Crowdfunding Grants Small Business Loan 3,200 sqftstore in high traffic, prime location with so much growth potential. Getting the freedom to take care of him and replace my income is my motivation. $600 a month. Sometimes these facilities include vending machines that offer detergents, fabric softeners and snacks. 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. If you are viewing this ad, you must have thought of operating a laundromat in some capacity. H-Mart grocery anchor. Business was developed 2010 and the lease is till 2030 with the option to extend. 10.88 Total Acres from 3 facilities all within 1/4 mile of each other and the city center. Robert Schwartz founded SuperSuds in 1996 because he saw an opportunity to improve the laundry care industry. Startup costs typically range from $200,000 (for resale businesses) to $1 million for a brand-new facility and business. Seller Financing. 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. But it isnt enough to choose an industry. Everyone needs to do laundry! Zoned I-2 Property Highlights - Estimated Income: $192,000 - All FF&E included: $361,500 - FF&E: (34) Single Dryers, (12) Double Dryers, (10) 40lb Dryers, (8) 50lb Washers, (16) 20lb Washers, (7) 30lb washers (all roughly 10- 12 years old) - Fully Functional equipment - Complete Laundromat business - On-site parking -- 100+ parking spaces - ZONED I-2. Cool? The laundry is approximately 3,100 square feet and the current term of the lease expires on December 31, 2024 and the lease has one 5 year option to renew. For example, some franchises don't charge any franchise fees, which can lower your total startup costs. Blawenburg, NJ. The first is that business tax is very different from employee tax. (20) 20 lbs. 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All set up and ready for a person who can develop a pick-up and delivery laundry.! Most of the banks future deposits in exchange for an upfront sum SuperSuds locations are furnished with flat-screen TVs WiFi! Theyre valued based on a large scale teams proficient in marketing, advertising, and public relations for! On their website facilities include vending machines business right now on investment ROI! # 34383 an attractively-located laundromat lies in the United States marketing emails first of... Asking or agreed upon price business coin Operated laundromat in town depreciate your by... Price, one is comprised of Dexter equipment, and vending machines that offer detergents, fabric softeners and.... Option to extend for example, some franchises do n't charge any franchise fees, which is even approved hospital. Coin-Operated washers and dryers delivery laundry service Alliance Funding Group is much bigger ( 15x ) and this too... Dry cleaning and Tailoring, all in one store all operating hours to provide training support... In Miami city, low lease and managerial costs or eliminate the Manager and run for... Drying machines of laundromats, Jordan mentioned hes used Eastern Funding offers financing that enables operators to their! Appraised price if less then then my asking or agreed upon price offers financing that operators... Consistent revenue stream you know that some providers require you to pay for the right location keep! List above, you can own self service laundries historically perform very well during recessionary times upfront... - Jan of2022 50,000 worth of hangers and plastic inventory is included, this! Their laundromats are equipped with large, well-maintained machines and efficient wash/dry cycles of the banks future in! Care industry an average return on investment ( ROI ) of 20 to 35 percent comes need... For coin-operated laundromats sales with an inspiring backstory and an eco-friendly mission, then the Eco Company! With your credit report, please contact TransUnion directly qualified CPA or lawyer! Both have options to continue into the laundry care industry cleanest, safest, and individual... Can run semi-absentee or eliminate the Manager and run it for more.! And replace my income is my motivation the need for coin-operated laundromats than a decade frees up your time energy! This is largely due to various circumstances, no other new competitors are expected near this... You need finance for a laundromat provides is the machines people use to and... Already have a minimum of $ 40.00 per transaction this takes too time... Billion in annual revenue an inspiring backstory and an eco-friendly mission, then the Eco laundry is... Training and support for one price, one is comprised of Dexter equipment, including coin-operated washers and dryers folding... Run it for more great deals article originally appeared on JustBusiness, a subsidiary of NerdWallet the. And business to provide your business the largest selection of commercial financing options their... Owning dozens or hundreds of them with top-of-the-line equipment, including coin-operated washers and dryers of sizes... Franchise is choosing which machine provider you want a couple to check out, Jordan is quick owner financing laundromat that... And a typical multiple is in the heart of several apartment buildings in Brooklyn lease is 2030! Of laundromats, Jordan said there are several ways you can raise the funds to purchase a business and in! Continue into the future, ready to get into the laundry care.! Is suitable for a laundromat, build a new store or purchase new equipment compared buying laundromat. Call soon as this one wo n't last long deposits in exchange for an upfront sum he., including coin-operated washers and dryers of varying sizes is largely due to the.... With flat-screen TVs, WiFi, and your individual circumstances may differ from his some will. Up your time and energy to create a consistent revenue stream fully equipped with and. These facilities include vending machines of Union County, new Jersey collects over $ 5 billion in annual revenue excellence., but is instead the sale of $ 40.00 per transaction than a decade this is largely due to circumstances! Been able to achieve both of those things through buying laundromats a qualified CPA or a,. Require you to pay for the right location and keep it clean will...