Franchisees should have $200,000 available in liquid capital and will need to pay a $49,950 franchise fee. This has been on my vision board for years however, finding owner financed laundromats in my area is beyond rareso just stuck I guess. Extremely busy plaza at major intersection. Save this Business Print. Please provide, best date and times that you are available to speak. Opportunity to grow wash-and-fold business. 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. Getting the freedom to take care of him and replace my income is my motivation. They know the industry well and will be able to give you some great advice. This is something to factor into the cash flow if the previous owner was doing this themselves and you now need to hire someone. And one of our consultants will contact you. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. With its well established success, and favorable demographic ensuring regular customers all year round. 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. With an increase in renters comes the need for coin-operated laundromats. Disclaimer: NerdWallet strives to keep its information accurate and up to date. why a laundromat makes a great side hustle and investment vehicle, where to look for financing and some creative marketing and monetization ideas. 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. $5000 down. We even add the latest state of the art Ultra-Violet sanitization system in the industry, which is even approved for hospital use. Personalized attention, 100% quality inspection of all garments prior to delivery to clients. For coin-operated laundromat owners that have bad credit and need a business loan, or lack any financial records other than bank statements, a merchant cash advance financing facility can be the best and only financing option. If youve ever visited your local laundromats, you might notice that many of them are understaffed, unkempt, and shabby. Eliminate employees and work the business full time add $40k-$50k of additional annual net revenue. Operating for 30 years, this business has a loyal customer base and has seen revenue growth since COVID. This business has no competition in close proximity. There, he realized his purpose: to merge business with environmental consciousness. Wash and fold laundry, dry cleaning and Tailoring, all in one store! Here is a list of our partners and here's how we make money. This is a relatively low-maintenance business, so you can hire a few employees to manage the store when youre not around. Their clean and modern facilities are equipped with heavy-duty washers and dryers that deliver fresh laundry every time. WebOwner Financing, Absentee laundry. Building a loyal clientele within your locations community will help you create a consistent revenue stream. Proforma Annual Sales Estimate $420K to $750K Proforma Annual Cash Flow $200K to $400K WaveMAX Laundry Franchise Fee only $49,950 Total Project Cost between $1,000,000 and 1,200,000 Significant Financing Available Detailed Information Location: Compton, CA Real Estate: Leased Building SF: 4,000 Lease Expiration: April/2041 Facilities: New from top to bottom. The new owner can run semi-absentee or eliminate the Manager and run it for more cashflow. washer, Continental RMG040 Now Accepting Offers. 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. Together, Aloha Laundry Life was born! - PT, Founder Aloha Laundry Life offers a business model to suit various interests and lifestyles. Many laundromat owners find leasing business equipment is the best way to go when financing their machines. We use cookies to to make sure you have the best experience on our website. Green Green Green! Very Busy Location. Listing # - 5316 JR This Coin laundry is very well maintained, displaying pride of ownership with a great location on a major high-traffic avenue with good visibility, easy in & out access, and plenty of parking in the rear of the building. 100% absentee. Excellent location. Most of the equipment is new and has been replaced in the last year. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. 3 Sites + 5 Acres Expansion. Are you a passionate entrepreneur who takes pride in your innovative nature? Wash and fold laundry, dry cleaning and Tailoring, all in one store. Moving ready. Jordan explained that laundromats have a high ROI, and he compared buying a laundromat to investing in real estate to prove this point. This laundromat features 29 washers in varying sizes and 28 dryer pockets in varying sizes to meet customer needs. Coin & App pay system, vending & snack machine , U-Haul Box truck rentals Air Hockey table, pool table, and video game. The store operates over 50 laundromat machines spanning 15lb washers, 40 lb washers, 55 lb washer, 30 lb stackable dryers, and 15 lb stackable dryers. 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. 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. This was the reason Jordan bought his first laundromat, to get into a business where he doesnt have to be present all the time. 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. Total price $85000. It's especially true when you buy a laundromat franchise. Traditional bank term loans or lines of credit is usually the first choice of laundromat owner seeking a small business loan. New sign, new water heater, some recent remodeling Gross income 18k/month. So how do we make money? The laundromat was purpose-built and had been operating as a laundromat for 10 years. They are close to the campus and they are extremely close to San Marcos river which includes tubing and water sports. LISTING ID # 35200 This local laundromat business has been established for 33 years. This self-service laundromat business, due to the pandemic was operational six days per week with limited hours, the business has recently increased its operation to seven days per week, with hours from 8:00 am to 7:00 pm. There is currently no vending but plenty of room for drinks/snacks and games to boost profit. LISTING ID # 34383 An attractively-located laundromat lies in the heart of several apartment buildings in Brooklyn. Become a licensee. Call for detailed information regarding your next income producing business. If you need finance for a laundromat, Jordan said there are several ways you can raise the funds to purchase a business. MESSAGE ME TO LEARN MORE ABOUT THIS BUSINESS NO BROKERS (BBF OK). We are changing the customer experience for good with a blend of innovation and excellence in customer care. And the same is true within laundromat franchises specifically. yielding sensible cash flow. 5 45 pound, Continental Express Dry, KTT45 Express Laundry Center helps their franchisees gain loyal clientele and consistent revenue with fully equipped laundromats. Fluff & Fold Service available. In addition, he served as an online media manager for the University of Nevada, Reno. This laundromat features 24 washers in varying sizes and 26 dryer pockets in varying sizes. Its as easy as that. Over the years of usage, there is wear and tear on machinery. Learn more about how to get financing in our guide to laundromat business loans. Serious inquiries only. He has covered financial topics as an editor for more than a decade. Some creative entrepreneurs have begun hybrid operations that combine laundry services with food, retail and alcohol service. Their team can help you create a financing plan that aligns with your specific budget, business goals, and financial health. Moreover, they have business experts on standby to help you execute your short- and long-term business goals. Jordan said this means the market is very inefficient. 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. There is an excellent trustworthy team in-place with an excellent Manager overseeing both stores. They have a tremendous potential to start a delivery service, bundle service and/or commercial laundry. 4 30 pound, Continental Express Dry, KTT30 To learn more, complete an inquiry form on their website. Children play area Bitcoin Machine located inside Amazon Prime pickup lockers outside Laundry is a recession and pandemic-proof business. A century of business experience and knowledge has grown the small laundromat into a successful franchise. There are various ways that you can secure funding, including: Investors Family Savings (owners capital) Crowdfunding Grants Small Business Loan It wasnt just the income potential that intrigued Jordan. By engaging our worldwide connections to buyers and sellers, Sunbelt Texas is able to facilitate smooth transactions in each industry marketplace. The first is that business tax is very different from employee tax. Please provide, best date and times that you are available to speak. 3 Year Average Return on the investment - 19.5% pa 3 Year Average Return on the revenue - 24.5% pa BUSINESS SUMMARY Simple all-cash coin laundry business in a safe and secure area the two locations are approximately 2 miles apart. To learn more about this green laundromat and how to franchise with them, visit their website. Large full-service card location has an excellent absentee net, great street visibility and excellent demographics. Competition: Competition? 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. On-site manager's residence plus an extra 2-bedroom apartment with a long-term (5+ year), low maintenance, tenant on auto-pay. With an extensive presence across the country, Best Option Restoration (B.O.R.) When making a major business investment, you need an experienced partner you can trust. (8) 40 lbs. Open 7 days a week, our business is dedicated to providing superior customer service and convenience. Management in place. pls , reply if you ,would love to hear how you handle the repairs. Plug, play and SCALE! You are about to leave the Eastern Funding website. WebObtain financing Starting a laundromat business requires an investment in the initial phase that can be made through financing. Employees and work the business full time add $ 40k- $ 50k of additional annual net revenue date. To pay a $ 49,950 franchise fee he compared buying a laundromat to investing real! Investment vehicle, where to look for financing and some creative marketing and monetization ideas editor for than! Hustle and investment vehicle, where to look for financing and some creative entrepreneurs have hybrid. You execute your short- and long-term business goals this local laundromat business requires investment. $ 300,000 per year Sunbelt Texas is able to give you some great.. 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