Self- and Full-Service Laundry: Out of State Absentee Owner

Seller Financing Available

Manager in place and wanting to stay!

Strategically located in Williston, ND, which is a temporary
home for over 100,000 laborers who migrate to the region for
work in the agriculture, fields, and energy industries, and
reside in temporary homes who need the access to do
laundry. This 3,600 sq ft facility offers self-service laundry,
shower facilities and drop-off services where employees will
wash, dry and fold laundry for the customer. The owner lives
out of state and only visits a few times a year. The business
has 1 general manager along with 4-5 laundry techs. This
spacious laundromat was established in 2012 and
competition in the area is very low. The pay-per-load
machines utilize a card service as opposed to cash and coin
which is much more secure and safe, especially for the outof-state owner. Included in the purchase price is over
$474,000 in hard assets. An SBA lender has pre-approved
this deal structure. North Dakota is ranked 2nd, after Texas,
as the highest oil producing state. Due to this fact, many oil
companies will send swathes of contractors to this area and
this business is noted as a preferred laundromat for their
employees.
Priced at $769,000, a 15% down payment of $115,350
returns $108,294 in the first year after debt payments! Plus,
the owner is offering a 10% promissory note and 6 months of
training, as a sign of good faith. This activity has brought the
business to a 41% profit margin. A new owner could boost
revenue by offering starching and dry-cleaning services or by
offering pick up services in the area and nearby towns.