Listing Number: 76931-749153
This is a great opportunity to purchase a coin-operated laundromat that was established over 13 years ago. The current owner bought this business in January of 2019 from the original owner/landlord so has only owned it for approximately three years. He originally bought this business for his former wife because she wanted an easy to run business in a fairly safe area. Although this business met all the criteria that the former wife was looking for, unfortunately, they have since been divorced. The former wife has zero involvement in this business right now and the husband has zero interest in continuing to run this business.
The laundromat itself is in great shape and so is all the equipment. The owner, with zero laundromat experience, has learned how to repair all equipment and generally repairs equipment right away when it goes down. On a positive note, if you’re looking to be an absentee or semi-absentee owner, it is not urgent to fix equipment right away if you’re not flexible. Your staff can just put “an out of order” sign up until you get to it. If you were to hire a mechanic, the mechanic this owner has used previously charges $35.00 an hour. There are multiple mechanics you can call if you did not want to do repairs yourself.
This is an easy to run business and the owner is willing to train and teach the new owner how to repair most of the equipment. According to the seller, most of the time, repairs are minor and easy to fix on your own to save cost.
Owner is providing training for two weeks as a part of this deal. He is more than happy to stay longer to train, at a negotiated salary.
This is a great opportunity for someone that wants to be a full-time owner-operator or even for someone who is looking for an absentee or semi-absentee business. There is tremendous opportunity to grow this business and make it even more profitable! Unlike most laundromats, this location is near affluent neighborhoods where there is huge potential for wash and fold and pick up and deliveries.
LANDLORD and LEASE: The current lease is for 9 years which ends January 2027 and there are two five-year options available. MOST IMPORTANT: When making an offer on this business, please make an offer only if you’re willing to have this current lease term assigned or transferred to you. DO NOT make an offer with hopes of negotiating a new lease with new terms.
This is an all-cash business. If you’re looking for a business with detailed financial statements, tax returns and balance sheets. This may not be the business for you.
Seller is willing to finance up to 50% of the deal for a well-qualified buyer. We also have a bank willing to finance this deal for anyone with 50% down, good credit and good financials.
- Price: $ 269,000
- Down Payment: $150,000
- Sellers Discretionary Earnings: $ 139,086
- Total Sales: $ 360,000
- Location: Harris County, Texas
- Inventory: $ 0
- FF&E: $ 200,000
- Employees: 2
- Year Established: 2010
- Reason for Selling: Divorce
- Category: Cleaning/Clothing