Coin Operated Laundromat and Dry Cleaning Business

Price: $59,900

Location: Madison County. Ohio

Industry: Coin Op Laundry

Listing Category: Coin Laundries

Listing ID: 80125

Established in 1984, this 24 hour coin Laundromat is listed for only $59,900.  It is located just west of Columbus, 15 minutes from the 270 outer-belt.  The current owner has completed extensive improvements to the plumbing including installing a new water heater, new recirculating pump and more.  Part of the more is a Well pump and a new Water Softener.  Anyone who has owned a Laundromat will tell you that their biggest expense is water.  This laundromat runs of well water, meaning, no water bill.

After having the plumbing re-done, the owner planned to remodel the front as the next phase of improvements.  Plans change, and the owner has a new opportunity he wants to pursue and is now selling his full service laundromat which includes dry-cleaning.  So, whoever purchases this all-cash business will still need to invest another $15,000 – $20,000 to remodel/refresh the front area.  But then, for under $80,000, you have a beautifully remodeled laundromat, remodeled the way you want, that has updated mechanicals and runs on well water.

This Laundromat is located in an established center that includes a Family Dollar, smoke shop, a pet store and more.  The Center’s owner has given the center a new look by resurfacing the parking area and adding new parking lot lighting.  He also had a new roof put on this year.  The store is approximately 4000 sq ft that includes multiple top and front loading coin operated washers.  The dryers are gas dryers.  Gas dryers are superior to electric as they get hotter and your customers have faster dry times.  Plus, this laundromat offers Dry Cleaning.   The businesses’ commercial accounts pay for most of the rent.  With a BOOMing local economy and with even a conservative amount of advertising/marketing effort, the commercial accounts could be greatly expanded.

It’s not often you see a laundromat for sale under sixty thousand dollars.  The cost to open a new Laundromat can exceed $300,000.  Instead, purchase this laundromat which was established in 1984 and has never had the interior updated, invest another $15-20K to improve the look of the front and make this diamond in the rough shine once again.

Total Sales: Pandemic 2020-$47,608 ( 2019 total sales over $120,000)

Cash Flow: 2020 – $13,836 (2019 cash flow over $44,000)

Listing Details

Total Sales: $47,608

Cash Flow: $13,836

Inventory: $500

Terms and Conditions?:

No seller financing.

Reason For Sale:

Owner has other business interests.

Training & Support:

Seller to ensure a smooth transition to new owner.

Operation

Year Established: 1984

Year of Last Acquisition: 2020

Days & Hours of Operation: 24 hours with Monday – Friday counter hours: 10:30 am-7 pm

Employees: 1 PT

Location

Monthly Rent: $1,958

Type of Location: Strip Center

Square Footage: 4,000

Facilities Information:

Located in an updated strip center with a Family Dollar and other retail businesses. : Landlord open to length of lease.

Summary

Historical Summary:

Business Established at this location in 1984.  An established business with over 35 years in this community.

Afilliations