Coin Laundry (Hawthorne) $220,000
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 $56k loan balance on washer and 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.
What are the terms for financing? How much would be required to put down?
Seller Will do owner financing with 30% to 50% downpayment .
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.
Do not talk to the owner and employees.
No Co-op brokering.
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 $56k loan balance on washer and 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.
What are the terms for financing? How much would be required to put down?
Seller Will do owner financing with 30% to 50% downpayment .
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.
Do not talk to the owner and employees.
No Co-op brokering.