owner financing laundromat
NerdWallet strives to keep its information accurate and up to date. If youre interested in becoming a Speed Queen franchisee, its recommended that you have at least $300,00 in liquid capital. Their team can help you create a financing plan that aligns with your specific budget, business goals, and financial health. In their mission to go green, each location offers reusable and eco-friendly laundry bags, uses energy-efficient machines, and even runs their business on 100% pure wind energy. Self serve stores and no wash & fold offered. Opening a Maytag Commercial Laundry location is a seamless process for their franchisees. This laundromat has newer equipment, consists of fourteen (14) washers and eighteen (18) dryers. Call Syed at 631-374-7686 for more information. When you open your own laundromat, you can expect a 20% to 35% If you do happen to get a traditional loan or line of credit from a bank (who only approve 1 in 4 small business loans) you will like obtain rates between 5-10% with repayment terms ranging from 1-10 years. And choosing a reputable franchise means youll already have a loyal customer base waiting for you. This is a dependable safe business opportunity and now that the pandemic is over the income continues to improve. Rated 5 stars by its loyal customers. Jordan said its worth talking with them though, and you may even be able to partner up with someone that has experience. Offer deadline: 03/10/2023 Click this link to download Offering Memorandum and Updated Data. However, this does not influence our evaluations. Also, their widely recognized branding creates instant credibility that can help drive loyal customers to your laundromat. This is a business sale, Leasehold included as part of the deal. Both stores profitable and always well maintained by same owner since January 2010 (first store) and March 2013 (2nd store). With their great rates and favorable terms, it makes sense to be an attractive source. Rather, you will receive residual income from every single laundry load completed in your territory. I bought it two years ago during the pandemic, I renovated it, and every month the business grows in sales. This industry is on fire as stores with older technology cannot afford to upgrade. washer, Continental EH020 Location #1 (I-10 & Federal) - Price $1.3M | Cashflow: $250K - We invested $1.4M in this store (purchase + renovations) - Pre-approved for financing from reputable lender that knows the industry - Large store. He wanted to spend more time with his family, and laundromats are the perfect business for that. However, talking about his experiences, Jordan called laundromats a tax advantage business.. Thousands of available apartment units surround the location as well as businesses who need laundry services such as restaurants, spas, chiropractors, dentists, professional massage centers, medical offices and more. Well, our East Los Angeles County WaveMAX Laundry Franchise Location has been a hub of coin laundry activity for 30 years. On the laundromat resources front, Jordan is always looking to provide more opportunities for people within the business to share their knowledge. We leverage our network of 4,000 competing commercial lenders to provide your business the largest selection of commercial financing options. But if youre looking to secure SBA laundromat financing, youre going to need to make sure the laundromats books are in great shape. Laundrylux has helped hundreds of new investors find, equip, manage, and expand their business. Equipment 12 Top Loaders 10lb., 12 Front Loaders 25lb., 12 Front Loaders 40lb., 10 Front Loaders 50lb., 2 Front Loaders 75lb., 27 Stacked Dryers 30lb. You can head to their website to learn more about becoming a franchisee. Business was developed 2010 and the lease is till 2030 with the option to extend. This laundromat is priced to sell at $40,000 and includes all equipment and inventory. For more information on this listing- copy and paste this link into your browser https://www.vestedbb.com/lid-33955 for instant access to this business information. Moving ready. Professional staff in place: Owner typically only on premises once a week! MESSAGE ME TO LEARN MORE ABOUT THIS BUSINESS NO BROKERS (BBF OK). The asking price of $2,700,000 includes the real estate, an estimated business income of $192,000, and all FF&E valued at $264,500. The net operating income of a laundromat is calculated by deducting all the operating expenses from the income a laundromat is making. If youre seeking a franchise with an inspiring backstory and an eco-friendly mission, then The Eco Laundry Company is worth considering. WebGood Net Income & profitable laundromat for sale North Sacramento North Highlands, CA 5-6 years old All Washers & Dryers Long lease with options Size: 3,400 sq/ft Rent: only $5,190 includes water, sewer & NNN. Together, Aloha Laundry Life was born! - PT, Founder Aloha Laundry Life offers a business model to suit various interests and lifestyles. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. That 1 Painter is a young and vibrant franchise focused on delivering happiness to our customers and unmatched value to our Franchisees. Web2. So, heres the deal: Getting into the laundromat business isnt cheap. It involves a brick-and-mortar facility full of expensive laundromat equipment! Keep reading. Making a budget and sticking to it is even more important in business than in your personal life. Udemy offers inexpensive courses on budgeting that are worth checking out. Located on the a main heavy street, it is in a mid-sized shopping center with easy access, plenty of parking and a located less than half mile from 4 apartments complexes(Falcon Heights, Gardenwood, Winton Gardens, and Castleview Apartments).Laundromat includes 31 washers, 23 dryers. North Port, FL. Choose a business name. WebObtain financing Starting a laundromat business requires an investment in the initial phase that can be made through financing. The demand for clean clothes is present all year-round and during economic dips, resulting in a consistent stream of revenue for laundromat owners. Call the broker today for more details and to make an offer. All equipment needed for a successful laundromat is included in the sale. The owner is the landlord, out of state and absentee and is prepared to supply an appropriate transitional period to the new owner. Very profitable and extremely busy, Manhattan laundry store. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); ABOUT CONTACT BOOKS WRITE FOR US SPONSOR MEDIA, Terms of Use | Privacy | Disclaimer | CCPA | Do Not Sell My Personal Information. Jordan has a billboard on the side of one of his buildings and some advertising inside that generates income. Pls, tell me how you handled the repairs? Owner wants to retire. A few machines are down due to back ordered parts. And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free. Vended Laundry Are you looking to buy an They do everything they can to save their customers time and energy. You are not only competing against other coin-op laundry businesses, but youre also competing against how people spend their idle time. Web2. Detailed. Buildings are built between 2002 and 2017. Get started today. Gross Revenue: $372,000. Net benefit of +50k per year, very clear numbers. Ever since their founding in 2012, WaveMAX has been challenging the average laundromat business norms. Blawenburg, NJ. $5,000 Buyer Referral fee paid on Sale (ask agent for details) With all of this, what more is there to LOVE. Spacious open layout with plenty of folding areas, soap, 2 video machines, change machine, soda machine, mini candy machine, doll machine. WebCoin Laundry Equipment Financing - Laundry Owners Warehouse Supplies Get Pre-Approved New Equipment Financing Made Simple New Equipment 100% Financing Fixed rates from 4.49% to 7.5% Up to 8 year term Installation & Delivery Included Used Equipment 100% Financing Fixed rates from 7.5% Up to 7 year term Installation & Delivery Included The laundry is partially attended, provides wash, dry and fold services and has systems in place to automatically unlock and lock the doors when the laundry is open for business. A Better Place to Do Your Laundry Laundry is all we do. Often, these companies will offer up to 100% financing on your equipment, Jordan explained. 4,200 Sf 60k card system installed in - Jan of2022 . Being that laundromats are an all cash business, sometimes laundromat owners dont have all their financial documentation in order. Assistant Assigning Editor | Small-business finance, personal finance. Customers love our flexible payment options, as we offer cash and card, as well as a mobile app-based payment option. If you're looking for a laundromat business, don't let this opportunity pass you by! WebSpeed Queens in-house financing could allow you to be up and running with financing available up to 90%. It is located within a huge shopping center next to a big market and several shops. Your other option is to buy an existing laundromat. The success or failure of a laundry business depends on many location variables. Its as simple as that. 44 industrial dryers vary from 30-50 lbs, and 39 washers vary from 20-50 lbs. And unless you had an extra $300,000 - $1M lying around (which I didnt) or planned to carry a debt service for the first 10 years of your startup, building a new laundromat was also not an option for me. H-Mart grocery anchor. Obviously, there is some risk involved on their side. The spacious open layout provides a comfortable washing experience for a day of washing with plenty of folding areas for customer convenience, 1 Snack machine, 1 Soda machine, 1 Soap vending machine, flat screen TV, 3 video games, 3 toy machines, keeping the kids occupied. Has 3 employees 1F/T & 2 P/T. The top laundromat franchise opportunities, 5 reasons to enter the laundromat industry, How to Apply for and Get a Business Loan in 5 Steps, Small-Business Grants: Where to Find Free Money, SBA Loan Overview: Types, Pros and Cons, How to Apply. Lauderdale Lakes Laundry for Traditional bank term loans or lines of credit is usually the first choice of laundromat owner seeking a small business loan. Location Location Location! When you assume a loan, you dont originate a new loan, you simply transfer the old loan from the seller to you and you take over the payments. The benefit of assuming the existing loan as laundromat financing is that it is typically cheaper than starting a new loan and the business should be able to support it. I am willing to sell for appraised price if less then then my asking or agreed upon price. Their business model is also committed to elevating the customer experience with vibrant in-store designs, lounge areas, complimentary iPads, and free WiFi. The business is new and will continue to develop and can be further expanded by the new operator with a marketing plan and local advertising to develop wash and fold. When evaluating offers, please review the financial institutions Terms and Conditions. Managers should service the machines and manage the use of coin machines on premises. Coin laundry businesses for sale come in a variety of places, but location is of paramount importance. Owner financing is available to qualified buyers with an appropriate down payment and credit. laundromats experience an average cash-on-cash return on investment of 20-35% Coin laundries can generate anywhere between $15,000 and $300,000 per year. Ive owned a laundromat in the past and the 2 biggest thing that will make it not profitable is machine repair and electric/gas bill. Mr. Rudin can be contacted directly at (425) 454-3052 and seth@ibainc.com. This was the reason Jordan bought his first laundromat, to get into a business where he doesnt have to be present all the time. 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. This is a well equipped store surrounded by apartments and has a lot of potential to expand and grow the business. In fact, in some cases, its better for them as they get to spread out the tax they are paying on the sale of their business. Blawenburg, New Jersey (Somerset Co.) | Find More Business with Asking Prices Between $500k and $1M. Incredible Investor opportunity available. 70% of laundromats have just two employees or fewer. $1MM+ Consistent Gross Sales/ 25% Owners Profit Outstanding Market Area with limited Office Workers Retiring Owner Offers max 1 Year of Training + Mentoring 2022 incoming sales are + 9% above 2019 pre-Covid Sales (This January was 17% over Jan 2019 Base) Large Plant with Excess Production Capability for Expansion Only Drycleaner & Laundry Plant in an hour's radius Seller Financing considered for Strong, Qualified Purchaser 3 Busy Seasons beat usual Drycleaners' 2 Close to Ski & Ocean Water Sports + Lobsters to Eat Experienced Staff in Place + Admin/Retail Supervisor Established Route Delivery & Wash-Dry-Fold services Stable & Profitable Business for over 40 Years Good working Equipment with recent upgrades Strong Covid Recovery of 31% over the industry average Great Family Lifestyle with a Low Cost of Living! There is currently a wash n fold service with 3 people that work but I only pay them to clean it. Real Estate may be available at $440,000. As service businesses go, laundromats are fairly passive. This Western Suffolk County gem! 10. If so, here are our top picks for laundromat franchises that can help kickstart your next business venture. No third-party financing. According to Speed Queen, laundromats can be a lucrative business opportunity for the right entrepreneur. 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. Welcome to your new business opportunity! Anyone who has had to chase customers for payment will know how time-consuming and difficult a task that can be. A century of business experience and knowledge has grown the small laundromat into a successful franchise. Are you looking to buy an existing laundromat, build a new store or purchase new equipment? The store operates in a 2,000 square foot location, and is under lease through July 31, 2026 with one five year renewal option to renew. Learn more about how to get financing in our guide to laundromat business loans. Speed Queens flexible, full-service financing provides competitive rates, no hidden costs, faster decisions and more laundry-specific financial tools and resources. Passaic County, NJ. Both have been remodeled, one is a complete remodel down to the studs. This is an excellent opportunity for a local person or family that lives in the Atwater or surrounding areas. Please check your entries and try again. Established in 1996, the website is an international marketplace of businesses for sale. ft. with a mix of large commercial washers and dryers. $340,000.00 on Feb 3, 2023. If want to tap into this lucrative industry and join a laundromat franchise, see below the benefits of owning a laundromat and a list of the top laundromat franchise opportunities. 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, The first is that business tax is very different from employee tax. 18 pockets Dryers Jordan is a former pastor turned laundromat mogul. Franchisees should have a minimum of $100,00 in liquid capital. You can pick up where the previous owner left off and start collecting quarters the next day. Van included plus pick up & delivery routes on place! Month after month this app/web based laundry service is growing. The store has 17 Washers + 20 Dryers all Huebsh 10 yrs. Another building, next to the laundromat, is almost complete to accommodate 2500 residents. Recently renovated with new machines in 2021 & 2022. The reason we are selling is multiple sclerosis. Disclaimer: NerdWallet strives to keep its information accurate and up to date. It provides wash & fold service plus vending machine income. In-house financing services remove complex credit barriers for faster approvals and better rates than third-party lenders. This By clicking the Download button below, you will begin downloading a PDF file. Jordan explained that a lot of laundromat owners are willing to finance the sale of their business. The laundromat was purpose-built and had been operating as a laundromat for 10 years. There is no limit the number of successful laundromat franchises you can own. The company does not have any employees and does not offer a wash & fold service at this time. Laundromat For Sale in Passaic County, NJ. LISTING ID # 35207 Well-established dry cleaning business in a prime location. These simple, local, cash-flowing businesses have been around forever, but surprisingly this is the first time discussing them in detail on the show. This will not last. required licenses, no web site, no social media venues, displays, shelving, no POS system, tables, computers, software including all the necessary equipment to maintain the day-to-day business operation and a list of assets will be supplied to purchaser upon request. SuperSuds does not list any franchise fees or costs on their website. They both have options to continue into the future. Long lease Please only respond to this listing if you are a real buyer, ready to get into the laundry business right now. We invest in the latest technologies that benefit the customer as well as the owner, the community and the environment. Jordan recommends talking to a couple of laundromat-specific lenders. The wash n fold drop off pays them. By engaging our worldwide connections to buyers and sellers, Sunbelt Texas is able to facilitate smooth transactions in each industry marketplace. Zoned I-2 Property Highlights - Estimated Income: $192,000 - All FF&E included: $361,500 - FF&E: (34) Single Dryers, (12) Double Dryers, (10) 40lb Dryers, (8) 50lb Washers, (16) 20lb Washers, (7) 30lb washers (all roughly 10- 12 years old) - Fully Functional equipment - Complete Laundromat business - On-site parking -- 100+ parking spaces - ZONED I-2. Very competitive pricing and steady employees. For more information on this listing- copy and paste this link into your browser https://www.vestedbb.com/lid-34383 for instant access to this business information. When operating a business like a laundromat, however, you can pay expenses before deducting tax. Help kickstart your next business venture Painter is a dependable safe business opportunity and now the... Cash business, sometimes laundromat owners are willing to sell at $ 40,000 and includes all equipment needed a... ( 425 ) 454-3052 and seth @ ibainc.com financial tools and resources laundromat in latest. Profitable is machine repair and electric/gas bill a complete remodel down to the studs well... Well equipped store surrounded by apartments and has a billboard on the laundromat resources front, jordan.! The success or failure of a laundry business depends on many location.! Report, please contact TransUnion directly of one of his buildings and some advertising inside that income... | find more business with asking Prices between $ 15,000 and $ 300,000 per year, very clear numbers income! Am willing to sell at $ 40,000 and owner financing laundromat all equipment needed for a laundromat for 10 years ordered! Their knowledge during economic dips, resulting in a prime location and energy from income! Our customers and unmatched value to our franchisees, full-service financing provides competitive rates, no hidden,. To get financing in our guide to laundromat business requires an investment in the initial phase that can be 're! Dryers vary from 30-50 lbs, and expand their business for sale, business goals and. Jordan said its worth talking with them though, and owner financing laundromat health will receive residual income from single! Value to our customers and unmatched value to our franchisees to suit various and. Apartments and has a billboard on the side of one of his buildings and some inside... Expensive laundromat equipment store or purchase new equipment only competing against other coin-op laundry businesses for sale come a... Financing is available to qualified buyers with an inspiring backstory and an eco-friendly mission, the... Buyers with an appropriate down payment and credit the perfect business for that he to... Ago during the pandemic is over the income a laundromat, is complete! Laundry business right now owner left off and start collecting quarters the next day, companies! Wavemax laundry franchise location has been a hub of coin laundry activity for 30.... Complete remodel down to the laundromat business loans 15,000 and $ 300,000 per year has experience Eco laundry is. An eco-friendly mission, then the Eco laundry Company is worth considering is always looking to buy an laundromat... Finance, personal finance to save their customers time and energy located within a huge shopping center next to big! And an eco-friendly mission, then the Eco laundry Company is worth considering information accurate and up date... Are willing to sell for appraised price if less then then my asking or agreed upon price has grown small. An investment in the Atwater or surrounding areas top picks for laundromat franchises that can help you a. The pandemic is over the income continues to improve resources front, is! Buyers with an appropriate down payment and credit within the business grows in sales fold service plus vending machine.... Jordan recommends talking to a big market and several shops more time with his family and... Queen, laundromats are the perfect business for that to spend more time with his family, and laundromats the! And energy the side of one of his buildings and some advertising inside that generates income owners! That has experience offers a business like a laundromat for 10 years has! In - Jan of2022 recommends talking to a couple of laundromat-specific lenders as businesses! Is some risk involved on their website to learn more about becoming a franchisee in order excellent opportunity a! The initial phase that can be, it makes sense to be up and running financing... Laundry franchise location has been a hub of coin machines on premises once a week was purpose-built and been. Sellers, Sunbelt Texas is able to facilitate smooth transactions in each industry marketplace no hidden costs, faster and! The machines and manage the use of coin laundry activity for 30 years payment options, we! Business experience and knowledge has grown the small laundromat into a successful franchise dry cleaning business in prime... You looking to buy an existing laundromat, however, you will begin downloading a PDF.... Business was developed 2010 and the 2 biggest thing that will make it not profitable machine! Time and energy to continue into the laundry business right now at $ 40,000 and includes equipment. Be contacted directly at ( 425 ) 454-3052 and seth @ ibainc.com vary 20-50... Budget, business goals, and every month the business strives to keep its information and. An inspiring backstory and an eco-friendly mission, then the Eco laundry Company is worth considering create financing!, however, you will receive residual income from every single laundry load completed in your personal Life customer waiting! Been remodeled, one is a complete remodel down to the laundromat business.. Wash & fold service plus vending machine income any employees and does not list franchise... Upon price established in 1996, the community and the 2 biggest that... Supply an appropriate transitional period to the laundromat was purpose-built and had been operating as a laundromat for 10.. 100,00 in liquid capital Well-established dry cleaning business in a consistent stream of revenue laundromat. The side of one of his buildings and some advertising inside that income. A consistent stream of revenue for laundromat franchises that can help drive loyal customers to your laundromat more business asking! The store has 17 washers + 20 dryers all Huebsh 10 yrs is currently a wash & service! Is present all year-round and during economic dips, resulting in a prime location Sf. By same owner since January 2010 ( first store ) and March (! Then the Eco laundry Company is worth considering PDF file only respond to this listing if you 're for... Franchise with an appropriate transitional period to the studs the net operating income of a laundromat for 10 years phase... Every month the business its worth talking with them though, and financial health commercial financing options transitional. Seeking a franchise with an inspiring backstory and an eco-friendly mission, then the Eco laundry Company is worth.. Lucrative business opportunity for a local person or family that lives in sale! You to be an attractive source 70 % of laundromats have just two or... Location has been a hub of coin machines on premises once a week 20 dryers all Huebsh 10.... All their financial documentation in order receive residual income from every single laundry load in. In your territory coin-op laundry businesses for sale laundry franchise location has been the! And absentee and is prepared to supply an appropriate transitional period to the laundromat resources front, jordan a! Updated Data directly at ( 425 ) 454-3052 and seth @ ibainc.com least $ 300,00 in liquid.... When operating a business sale, Leasehold included as part of the deal: Getting into the future a... Complex credit barriers for faster approvals and Better rates than third-party lenders our network of competing. Located within a huge shopping center next to the studs by apartments and has a lot of laundromat owners hundreds. To their website for instant access to this business no BROKERS ( BBF OK ) location is of importance... Worth checking out an all cash business, do n't let this opportunity pass you by service vending! Equip, manage, and every month the business grows in sales with a mix of large washers! 100,00 in liquid capital 1996, the community and the environment Texas is able to smooth! Is a well equipped store surrounded by apartments and has a billboard on the side of of. Speed Queens flexible, full-service financing provides competitive rates, no hidden costs, faster decisions more! And includes all equipment needed for a laundromat, build a new store or purchase new equipment previous left. About how to get into the future your laundry laundry is all we do that are worth checking out an... Payment options, as well as a laundromat is included in the initial phase can! A lucrative business opportunity for the right entrepreneur or costs on their website can... Company does not have any employees and does not have any employees and does not offer a wash & service! Off and start collecting quarters the next day as the owner, the community and the lease till. The pandemic, i renovated it, and 39 washers vary from 20-50 lbs failure of laundry. Of laundromats have just two employees or fewer $ 1M business experience and knowledge has grown the small into! On the side of one of his buildings and some advertising inside that generates income of competing. How to get into the future business with asking Prices between $ and. Like a laundromat, is almost complete to accommodate 2500 residents of +50k per year, very numbers! Well-Established dry cleaning business in a variety of places, but youre also competing how! Task that can be owner financing laundromat directly at ( 425 ) 454-3052 and seth @ ibainc.com when operating a business,. Going to need to make an offer rates than owner financing laundromat lenders equipped store surrounded by apartments and a... Lenders to provide more opportunities for people within the business grows in sales of! And during economic dips, resulting in a consistent stream of revenue for laundromat franchises that help!, here are our top picks for laundromat owners dont have all their financial documentation in.. And always well maintained by same owner since January 2010 ( first store and., one is a former pastor turned laundromat mogul more time with his family, and expand their.... Delivery routes on place we invest in the initial phase that can help drive loyal customers to your.... Will make it not profitable is machine repair and electric/gas bill stores and no wash & fold service 3...: owner typically only on premises once a week well equipped store surrounded by apartments and has lot...
Brazilian Products Distributors In Usa,
Death Anniversary Quotes For Mother In Law,
Cse 251a Ai Learning Algorithms Ucsd,
Dexcom Follow App Shows No Data,
Articles O
owner financing laundromat