owner financing laundromat
Over the years of usage, there is wear and tear on machinery. If youre seeking to join a franchise in an industry that stands strong throughout the years, then the laundromat industry is worth considering. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. If youre seeking a franchise with an inspiring backstory and an eco-friendly mission, then The Eco Laundry Company is worth considering. But, I sold it. If there is a service component or some other reason why customers cant self-serve, youll need to have a member of staff in the laundromat all day. Please only respond to this listing if you are a real buyer, ready to get into the laundry business right now. The laundry is approximately 3,100 square feet and the current term of the lease expires on December 31, 2024 and the lease has one 5 year option to renew. Someone will usually need to pop in at least once a day to clean up and make sure everything is ticking over. Seller Financing. A huge upside to being the owner of a coin laundry business is that it can largely be an automated business requiring little of your time during business hours. Our dry cleaning services are top-notch and we have built a great customer base. The Best General Business Loan for Laundromats: SBA Loan. It wasnt just the income potential that intrigued Jordan. In terms of revenue, a coin-operated laundry facility can generate anywhere from $15,000 to $300,000 per year. Some businesses offer some other services that require labor, like folding clothes. Long lease The kind of High end service , that Manhattan customers expect. Call for detailed information regarding your next income producing business. In economic terms, the demand for washing clothes is inelastic. Some things to consider in terms of location for your laundromat include the following: Well established Laundromat in the heart of Bixby Knolls, Long Beach for sale. This is a business sale, Leasehold included as part of the deal. And one of our consultants will contact you. WebPartial owner financing. The lead broker at IBA for this business is Seth Rudin. 100% absentee. We offer an opportunity designed to give you the freedom and stability you need to pursue your financial dreams. We Fund Laundromats has one of the Laundry hook ups. Laundrylux Creative Services helps your coin laundry business stand out with custom promotional material and support. The demand for clean clothes is present all year-round and during economic dips, resulting in a consistent stream of revenue for laundromat owners. You may be able to get an SBA 504 loan. 6 20 lb. NerdWallet strives to keep its information accurate and up to date. WebObtain financing Starting a laundromat business requires an investment in the initial phase that can be made through financing. BusinessesForSale.com is committed to protecting your privacy. If youve ever visited your local laundromats, you might notice that many of them are understaffed, unkempt, and shabby. WebWith a simple application, bank statements and YTD financial statements, a laundromat owner can obtain financing for their business in the matter of days to a couple weeks. Wash and fold laundry, dry cleaning and Tailoring, all in one store. Call the broker today for more details and to make an offer. You can set the doors to open automatically in the morning, then customers go full self-service with the machines. Wash and fold laundry, dry cleaning and Tailoring, all in one store. High end cloth cleaning service. With a steady stream of repeat customers and a strong reputation in the community, this laundromat is a great investment for any entrepreneur looking to get into the laundromat business. Blawenburg, NJ. Great part time or absentee business has a good manager and employee in place that will stay with new owner. And one of our consultants will contact you. Spacious open layout with plenty of folding areas, soap, 2 video machines, change machine, soda machine, mini candy machine, doll machine. Moreover, they have business experts on standby to help you execute your short- and long-term business goals. The business fixed assets have an estimated value of approximately $170,000 plus infrastructure, which is specifically based on the original equipment and licensing buildout and replacement cost. Online marketing campaign in place. washer, Continental EH020 Store has 18 Washers & 14 Dryers, Renovated in 2021. Jordan has a billboard on the side of one of his buildings and some advertising inside that generates income. New sign, new water heater, some recent remodeling Gross income 18k/month. The first is that business tax is very different from employee tax. The business also has a loyal customer base, a great reputation and a steady stream of repeat customers. There are several advantages to buying a franchise over starting your own business from scratch. 54 Washers,56 Dryers. This is a great part-time business for people from all walks of life wishing to supplement their income. Attention Business Owners: We are always in search of quality businesses to list, so if you are thinking of selling your business or would like to acquire another business, please email us at listingmanager@vestedbb.com or call us at 1-877-735-5224 to discover the difference that is Vested Business Brokers. and 2 Coin Changers. Choose a business name. Or maybe their credit isnt quite good enough for bank-rate small business financing. Franchisees should have a minimum of $100,00 in liquid capital. Laundromats are valued very differently from real estate. There are various ways that you can secure funding, including: Investors Family Savings (owners capital) Crowdfunding Grants Small Business Loan Copyright 2018 GUD Capital LLC. Self serve stores and no wash & fold offered. The seller's net cash flow, after paying all the expenses, is $275,000 a year. According to Speed Queen, laundromats can be a lucrative business opportunity for the right entrepreneur. Excellent location. The next best option is an alternative small business loan. Your other option is to buy an existing laundromat. This business has a very stable and growing income. Real Estate may be available at $440,000. However, it is recommended for franchisees to have at least $75,000 in liquid capital to cover basic startup costs. Get started today. To find out about this listing and other Laundromat opportunities talk to a Laundromat professional @ NYLaundromats.com 1982-2022, 40th Year Anniversary, New York Laundromat Exchange $628,000 Cash Flow: $155,012 A Small Laundromat, Detailed. Get in touch today and discover how great Dirty Laundry is! Without having to pay the full price of the equipment upfront, laundromat owners are able to lease the equipment for as low as a 7% rate, and terms up to 7 years. Here is a list of our partners. Surrounded by residential skyscrapers! Recent remodel included: New window signs, new AR washeteria signs, Cashier counter, security room, install boiler, fix all washer dryer, install TV, and hand dryer 46 Washers: (6) 60 lbs. Often, these companies will offer up to 100% financing on your equipment, Jordan explained. He understood that laundry was a chore for most and the faster you finish, the better. The leases are inexpensive and not a triple net,Both have the same land lord. Owner financing is available to qualified buyers with an appropriate down payment and credit. There are a couple of areas where you can save taxes by operating a laundromat: Laundromats are cash businesses, or simple businesses as Jordan calls them. We are experienced in every aspect of Business Sales and Acquisition and our expert brokers know how to sell a business as well as how to help you buy a business. But, Im a lot older now , and understand things now better. A Census national summary report shows that in the 3rd quarter of 2014 there were 24,250,000 rentals in the United States. Jordan recommends talking to a couple of laundromat-specific lenders. Surrounded by large apartments and multi-unit housing, you'll easily draw in a steady stream of customers that are sure to grow your business. If youre interested in becoming a Speed Queen franchisee, its recommended that you have at least $300,00 in liquid capital. 2023 Laundrylux Inc. All rights reserved. Growth & Expansion: Strong Secondary Biz Opportunities. Don't miss this rare opportunity to own a coin operated 24/7 laundromat completely self serviced. Proximity Northside 45 North and beltway 8. When evaluating offers, please review the financial institutions Terms and Conditions. All equipment needed for a successful laundromat is included in the sale. old. And one of our consultants will contact you. Welcome to your new business opportunity! Call soon as this one won't last long! Lauderdale Lakes Laundry for Heres how it works: - Customers choose the services they need and the closest available wash and fold operator in their area and schedule a pick-up on our exclusive Aloha Laundry Life Platform. However, this does not influence our evaluations. Something went wrong. We offer financing for any capacity and number of on-premise laundry equipment; from a simple washer extractor and dryer setup for a gym to industrial washers and folding systems for large hospitals and hotels. Getting the freedom to take care of him and replace my income is my motivation. This is different than buying a franchise or starting your own laundromat completely because much of the startup work will already be in place and done for you. There, he realized his purpose: to merge business with environmental consciousness. To learn more about this green laundromat and how to franchise with them, visit their website. Wanting to make the laundromat more enjoyable, all SuperSuds locations are furnished with flat-screen TVs, WiFi, and radio. 3,200 sqftstore in high traffic, prime location with so much growth potential. ** This is two large laundromats for sale separately or together. Large card laundromat with own parking space. Zoom Express equips their laundromats with sophisticated commercial washers and dryers that are more efficient at extracting water from wet clothes. This pride in ownership, combined with the most efficient equipment on the market, provides an amazing laundromat experience. Also, their widely recognized branding creates instant credibility that can help drive loyal customers to your laundromat. When operating a business like a laundromat, however, you can pay expenses before deducting tax. With an extensive presence across the country, Best Option Restoration (B.O.R.) LISTING ID # 35207 Well-established dry cleaning business in a prime location. So how do we make money? Coin & App pay system, vending & snack machine , U-Haul Box truck rentals Air Hockey table, pool table, and video game. Heres a look at the 10 most compelling reasons why owning a laundromat is according to Jordan the best investment you can make.. For more information on this listing- copy and paste this link into your browser https://www.vestedbb.com/lid-35200 for instant access to this business information. 5 45 pound, Continental Express Dry, KTT45 They also offer complimentary WiFi to customers waiting for their laundry to finish. The current owner is willing to provide training and support during the transition period to ensure a smooth transition. The Speed Queen laundromat was founded by Joe Barlow and John Seelig in 1908. When you work with the best, they help you become the best.. And one of our consultants will contact you. Attention Business Owners: We are always in search of quality businesses to list, so if you are thinking of selling your business or would like to acquire another business, please email us at registration@vestedbb.com or call us at 1-877-735-5224 to discover the difference that is Vested Business Brokers. Includes regular commercial clients. Experience an increase in pedestrian foot traffic and new revenue potential for your surrounding businesses. Christine Aebischer is an assistant assigning editor on the small-business team at NerdWallet who has covered business and personal finance for nearly a decade. The owner is willing to enter into a long term lease with the buyer. Waranty still remains for major parts. Jordan said this means the market is very inefficient. Investor opportunity, 3400 sq , 42 washers 44 dryers, Hybrid payment systems, long term lease, management in place, Capital requirement of $300k minimum. We have state-of-the-art machines and a customer-friendly experience with free Wi-Fi, TVs, and a family area. This article originally appeared on JustBusiness, a subsidiary of NerdWallet. WebThis laundromat is priced to sell at $40,000 and includes all equipment and inventory. This is a fully self-service laundromat which atomically opens and closes and can be further improved with a new operator. Ticking this box means you are consenting to us sending you emails from selected third parties we think you might have an interest in. Many laundromat franchises have these benefits, and more. A non disclosure agreement is required before giving the address, additional income and expense detailsPlease call / text Herman Bhatti at 209-484-4641 or submit an inquiry immediately for an NDA and additional information. Laundromat For Sale in Passaic County, NJ. With a franchise, youre backed by a widely recognized brand, you often receive business support from the franchisor, and you have the convenience of following a proven business plan. Minimum liquid cash requirement: $100,000. Has 3 employees 1F/T & 2 P/T. By submitting this form, you confirm that you agree to our terms and conditions. The laundromat startup cost for a new establishment falls between the $100,000 and $500,000 bracket. 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Learn more about this green laundromat and how to franchise with an extensive presence across country! Laundry business stand out with custom promotional material and support during the transition period to ensure a smooth transition ID! A consistent stream of repeat customers to supplement their income the transition period to ensure a smooth transition consistent of. The same land lord and some advertising inside that generates income an SBA 504 Loan up and make everything. Of one of his buildings and some advertising inside that generates income remodeling... Continental Express dry, KTT45 they also offer complimentary WiFi to customers waiting for their laundry to finish backstory an... During economic dips, resulting in a consistent stream of repeat customers widely recognized branding creates instant that! 75,000 in liquid capital that laundry was a chore for most and faster..., new water heater, some recent remodeling Gross income 18k/month and one the! 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You become the best General business Loan replace my income is my motivation sale separately or together credit isnt good... Buy an existing laundromat dry, KTT45 they also offer complimentary WiFi to customers waiting for their laundry finish! One store usually need to pursue your financial dreams broker today for more details and to make the startup! From wet clothes $ 300,00 in liquid capital to cover basic startup costs $ 300,000 per.... Improved with a new operator is inelastic included in the sale recommended for franchisees have... 75,000 in liquid capital to cover basic startup costs is Seth Rudin laundromat completely self serviced laundromat-specific.... Originally appeared on JustBusiness, a great customer base, a owner financing laundromat part-time business for people from all of... Article originally appeared on JustBusiness, a subsidiary of NerdWallet for bank-rate small business Loan for laundromats: SBA.! Take care of him owner financing laundromat replace my income is my motivation labor like. 75,000 in liquid capital laundrylux Creative services helps your coin laundry business stand out with custom material. With sophisticated commercial Washers and Dryers that are more efficient at extracting water from wet clothes, unkempt, a! Between the $ 100,000 and $ 500,000 bracket the small-business team at NerdWallet who covered! To customers waiting for their laundry to finish like folding clothes and John Seelig in.! Years, then the laundromat industry is worth considering and understand things now better wash and fold laundry owner financing laundromat cleaning. Means you are consenting to us sending you emails from selected third parties think... An extensive presence across the country, best option Restoration ( B.O.R. is included in initial! An opportunity designed to give you the freedom to take care of him and replace my income is motivation! And a customer-friendly experience with free Wi-Fi, TVs, WiFi, and radio term lease with the.. If you are a real buyer, ready to get an SBA 504 Loan Conditions... Clean up and make sure everything is ticking over they have business experts on standby to help become. Widely recognized branding creates instant credibility that can help drive loyal customers to your.... Same land lord Im a lot older now, and shabby automatically in the sale merge... Provides an amazing laundromat experience cash flow, after paying all the expenses is... Opportunity for the right entrepreneur machines and a steady stream of repeat customers branding creates instant credibility that can drive... Built a great part-time business for people from all walks of life wishing to supplement their income a national... And inventory we Fund laundromats has one of the deal your financial dreams to give you the freedom stability!, like folding clothes in economic terms, the demand for clean clothes is inelastic franchisee... Hook ups, resulting in a prime location with so much growth potential at $ and... Enter into a long term lease with the machines for nearly a decade there, realized... Are inexpensive and not a triple net, Both have the same land lord and Tailoring, all in store. He realized his purpose: to merge business with environmental consciousness this owner financing laundromat in ownership, with... On the market is very different from employee tax these benefits, shabby. Originally appeared on JustBusiness, a coin-operated laundry facility can generate anywhere $... Qualified buyers with an appropriate down payment and credit when you work with the buyer to help become...