Laundromat Empire
Portland, OR
| Asking Price: | $1,800,000 |
| Gross Revenue: | $570,000 |
| Established Year: | 2008 |
| Cash Flow: | $75,000 |
| FF&E: | $1,800,000 |
Listing ID: 2303745Listing provided by BizBuySell
BUSINESS DESCRIPTION
Positioned to Explode - Owning the Wash & Fold Marketplace!
3 Beautiful fully equiped Laundromats - every one with full Dexter equipment either new or upgraded to new inside & out! Everything is seamlessly linked together with a computer accessed software system to allow Wash & Fold pickup & delivery from virtually anywhere in the city. The public has just become aware that this service is available and is catching on like wildfire! This is the most efficient computerized system available in the country!
DETAILED INFORMATION
Location
Portland, OR
Inventory
Included in asking price
Employees
12
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
3 fully equipped laundromats with all Dexter equipment, either new or totally updated inside and out. Fully monitored with at least 12 4K cameras per location you can monitor on your phone or computer. Wash & Fold now done in each location with 4 employees at each. they are all set up to operate unattended with electronic automatic doors. You can shift all the labor to 1 location - then $315,000 labor drops to $105,000. Virtually no marketing and advertising has been done since the beginning, so volume of business could easily be doubled or more!
Competition
Laundromats have always and will thrive in good times and bad, because one thing that is for certain - people will always wear clothes and have the need to wash them! There is no near competition for any of these stores. Even if there was, these stores are always in the newest, cleanest, and most desirable condition, so would be the location of choice! And the competing market for wash & Fold pickup & delivery is $3.50 per Lb, leaving space to increase from the current $1.85 easily!
Growth & Expansion
Laundromats remained at a high demand during the pandemic, and the culture shift ushered in a new concept of people finding they could have someone else perform work that hadn't been considered before. Grocery stores delivering your items to your doorstep, food delivered to you from the restaurant, and then lo & behold - someone will now pick up your soiled laundry, wash it, fold it, and return to your doorstep! Everyone I've talked to in that business are charging $3.50 per pound, so there is a LOT of room for price increase!
Financing
The owner would consider financing a qualified purchaser with a minimum of 1/2 down.
Support & Training
The owner/seller is very experienced in equipment repair & and upgrade and is happy to transfer any knowledge to the buyer. He is the one who negotiated the original contract with the software company and can also transfer that relationship to the new owner to continue to expand the business to as many cities and metropolitan areas as you want!
Reason for Selling
The owner is Retiring and moving to Seatle to be near his children.
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