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Coin Laundry (Hawthorne) $200,000 

Picture
Profit & Loss Statement 2019 yr to Nov 30, 2019
Income$114,620.00 
Sales$8,800.00Vending Soda, Snack, Deterg
Services$8,000.00Commercial Laundry Service
Other Income  
Total Income$131,420.00 
Expenses  
Accounting$300.00 
New Dryer finance$13,512.00 
Advertising  
Assets - Small   
Bank Charges  
Depreciation  
Electricity$8,250.00 
Gas$5,500.00 
Insurance$1,868.00 
Water$8,800.00 
Motor Vehicle$2,712.00 
Office Supplies$557.00 
Postage & Printing  
Rent$35,222.00 
Repairs & Maintenance$1,100.00 
Stationery$330.00 
Subscriptions$0.00 
Telephone$550.00 
Training / Seminars$0.00 
Wages & Oncosts$0.00 
Total Expenses$78,701.00 
Profit / (Loss)$52,719.00 
​1200 sqft

Over the past 70 years, the coin-op laundry industry has developed into one of the most reliable end efficient sources of revenue for many investors and entrepreneurs. The coin laundry business generates over five billion dollars in revenue annually, each laundry capable of generating over $300,000 per year. In addition to the financial benefits of coin-op laundries, there is also the social benefit of providing clean clothes, a basic health service, to millions of people. This laundromat is high volume and attracts a good amount of foot traffic. It is situated in a large strip center, has good parking, and strong visibility from the street, and it is also in a dense apartment community. Owner has spent over 75k in past year in new machines. Machine Info 9 x 13 lbs Washing Machines 5 x 18 lbs Washing Machines 5 x 20 lbs Washing Machines 5 x 35 lbs Washing Machines 5 x 40 lbs Washing Machines 1 x 60lbs Washing Machine- new 2019 2 x 45 lbs washing Machine- new 2019 9 x 2 30lbs Dryers- new 2018

How many years has the business been under ownership with the current owner?
Current ownership since Aug 2018

How many years has the location been a Laundromat?
The business has been at the current location for 18 yrs. Current lease on the location is until 2023 July, and two 5 years options

How machines are owned vs leased.
All machines are owned. Three machines 2@40 & 1 @60 lbs, 9@30 lbs dryers 2 per stack are owned with a loan balance.  total approx $35k loan balance on dryer  equipment​ is extra top of sale price

If so, please provide the terms. I noticed motor vehicles as a expense , will a vehicle be apart of the sale or is this a vehicle owned by the owner? 
Vehicle is not part of sale, totaled in an accident.


Is the loan balance for the dryers included in the asking price? Or does the new owner have to assume the loan?
Yes, inclusive new dryers and washers

Are the vending machines owned? 
Outright owned

How many employees do they have? 
0

What are their wages?
I have the cook next door at the restaurant closing 5 days a week from 6-11pm for $20 a night


REASON FOR SELLING: Moving Out Of State

Seller stated by text  he let’s the lady do her fluff n fold  business in exchange she helps customer for free with no labor costs.
The lady stays there from
7-3 pm everyday.
Also if they have problems with a Machine or complaint she goes there .
The closer works from from
9-closing seller pays him $20.00 a night.
He mops, cleans the machine
and closes the door .
Also if there is a problem during the day he goes there and helps if needed. He works at the Chinese restaurant next door.
A bit unique but the seller and buyer will need to discuss in detail about the business operation.

​No seller's financing

4.14.22

The seller as  he will consider to split the difference approx 26 k balance on 1 loan.
The other loan was paid off awhile ago .​

The owner deposits 2 or 3 times a week to the bank .
Lease info is the same as before must qualify with landlord etc .
Owner is purchasing three
New washers very soon .
Some need to be replaced .
3 - 40 lb washers top 
loaders.​

Seller stated equipment list as follows 2 @ 18 LBS Speed Queen older, 5 @ 20 LBS Speed Queen older, 2 @ 35 LBS Speed Queen New Dec 2019, 1 @ 60 LBS New Dec 2019, 5 @ 20 LBS Speed Queen Older, 4 @35 LBS Speed Queen Older, 9 @13 LBS Heubsch Older, 2 @ 40 LBS Huebsch Older 9x2 @30 LBS Dryers Speed Queen New Dec 2019, Change Machine New Dec 2019, 3 Vending Machine Older, 2 TV, 4 Camera CCTV, Weight Scale Fluff & Fold New 2019, Change Scale.

Owner in the past 3 years has purchased new washers and dryers .
Owner had two machine loans but now one dryers loan about 24 k balance .​
​
​Do not talk to the owner and employees.
​No Co-op brokering.

    Please Fill NDA below to obtain the business address.  
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    If you press submit button, you will understand and agree with the nondisclosure agreement and disclaimer below. Please visit the location first and ask questions via email only.
    Disclaimers 
    ​
    Please be advised that kibomrealtor.com(Credent Realty) may render only the service of introduction of Business Details bases on our own personal opinion, news papers and a source of internet advertising. Not verified by a  certified appraisers. Therefore the contents of the kibomrealtor.com (Credent Realty) were not verified and their accuracy is not guaranteed. It is user’s responsibility and duty to check and verify the accuracy of the value of the business. This result is only asking price not a done deal price.
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    Non-disclosure Agreement
    This  information is from seller not verified or confirmed by kibomrealtor.com(Credent Realty).  It is buyer's responsibility and duty to check and verify the accuracy of the seller's representation as to the business opportunity. The buyer agrees and acknowledges that the buyer will not claim or sue kibomrealtor.com (Credent Realty) or its agents regarding the business after he/she purchases. It is once again emphasized that the buyer must verify the business information.  For your convenience we don't require you to come to our office to sign NDA form. Instead you can just check "AGREED AND ACCEPTED" below After reading the Non-disclosure Agreement. After that we will send you the information which include address and name. If you want to purchase the business that we send the information for, you must purchase it through kibomrealtor.com within a year from the date that this E-mail sent. ) You hereby promise to trade only through Ki Bom Kim real estate deals with real estate information obtained through KI BOM Kim.  You will pay $12,000 + cost if you deal directly with the seller or the landlord without or not through Ki Bom Kim using real estate information obtained through Ki Bom Kim. You will not raise objection on this matter.
    You must also not discuss the contents of the listing or information that the E-mail contains with anyone who was not the intended recipient. The information is highly sensitive.  By the way It highly recommend that you visit the business first and you will most likely yield a better result that expected.
    "Do not talk to owner and employees."
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    "Seller 나 종업원 하고 말씀 하지 마세요."
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