Tupelo Data Room
Laundromats & Coin Laundry
Active

Coinless Laundromat - Seller Financing, with $350K Down

Cleveland, Cuyahoga County, Ohio, United States
listing image
Asking Price$850k
Revenue$342k
EBITDA-
Cash Flow$240k
Description
Busy, coinless Laundromat equipped with state-of-the-art machines located in a densely populated neighborhood of Cleveland is now available for acquisition. This business has been serving the community for seven years offering both self-serve and wash-and-fold services for those who prefer dropping off their clothes and retrieving them later. Business features 35 washers and 38 dryers that are advanced, energy-efficient machines with card readers. Customers can conveniently receive a store card which is then loaded with money to be used to operate the machines Customers can use either cash or a credit card to put funds on the card. All transactions are handled by an ATM- like machine; attendants do not handle cash. Additionally, vending machines stocked with drinks, snacks, and laundry supplies are readily available as well as seller-owned arcade games. More variety of soaps and softeners are available from the attendant. The business is efficiently managed by four part-time attendants who ensure exceptional customer service and maintain high cleanliness standards. The owner is involved on a part-time basis, dedicating approximately six to eight hours per week to managing, overseeing employees, and inspecting the facility. The facility is protected by a top of the line ADT security system. The business does not develop P&L or Balances Sheets to monitor company performance. Tax returns are filed as a conglomerate and are not an effective way to gauge financial performance of this particular entity. Revenue is composed of 56% cash and 44% credit card deposits. As a result, SBA financing is not possible for this business. The Seller will consider seller financing with $350,000 down payment for those that qualify.
Real Estate
Rent is $3,000 per month
Furniture Fixtures & Equipment
$350k
Number of EmployeesPart-Time: 4
Year Established
2015
Reason Selling
Retirement
Facilities & Assets
350000
Support & Training
Owner will provide training and consultation for 60 days after purchase.
Growth Opportunities
There is a sister Laundromat in Lorain County that is being sold separately. A package deal could be negotiated.
Financing Options
Seller financing is available.Seller will consider financing with $350,000 down payment for those that qualify
Asking Price$850k