Well-established laundromat offers a prime investment opportunity

Raleigh, NC
listing image
Asking Price:$475,000
FF&E:$256,000
Gross Revenue:$212,000
Established Year:2023
BUSINESS DESCRIPTION

Strategic Location and Growth Potential

The laundromat is situated in an improving area of town, with a large apartment complex under construction just 300 feet away. This prime location positions the business for significant growth in customer base. It’s proximity to downtown offers many commercial and residential opportunities to add business.

State-of-the-Art Equipment

The facility boasts 30 washers and 30 dryers manufactured by Electrolux, including powerful 200G washers. With five washer sizes and two dryer sizes available, this laundromat offers the strongest washing capabilities in the area.

Experienced Management and Staff

A General Manager is already in place with an employment agreement that includes a 15% vesting plan starting January 20, 2025. Two additional trained and competent employees round out the team, ensuring smooth operations.

Diverse Service Offerings

This laundromat stands out by providing a Wash/Dry/Fold service, unique in the area. It currently serves five commercial pick-up and delivery customers, with significant potential for expansion, especially given its proximity to downtown. There is a big opportunity for growth in this area.


DETAILED INFORMATION
Location
Raleigh, NC
Inventory
Not Included in asking price
Employees
3
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
The laundromat is situated in an improving area of town, with a large apartment complex under construction just 300 feet away. This prime location positions the business for significant growth in customer base. The facility boasts 30 washers and 30 dryers manufactured by Electrolux, including powerful 200G washers. With five washer sizes and two dryer sizes available, this laundromat offers the strongest washing capabilities in the area. Franchise Requirement for Buyer Eligibility: Net Worth $700,000 or greater
Competition
There are multiple laundry services operating in the Raleigh area, including The Wash House and dry cleaners who may do laundry, such as Medlin Davis Cleaners.
Growth & Expansion
There's substantial room for expansion in commercial and residential pick-up and delivery services once marketing efforts are intensified. The existing relationship with Gopher, a pick-up and delivery service similar to Uber Eats, provides a solid foundation for this growth. WaveMAX offers a variety of special services tailored specifically for commercial clients, making it an attractive option for businesses needing laundry solutions. The Company has 2 additional licenses for expansion.
Support & Training
As needed for smooth transition.
Reason for Selling
The owners have several business interests that require more attention
Franchise
This business is an established franchise

BUSINESS LOCATION
Report an Issue with this listing
Geoff Miller
logo-img
Geoff Miller