Absentee Owned Laundromat
Location Rhode Island,United States
Asking Price Range < $250K
Gross Revenues $85000
Net Profit / Cash Flow $9431
Cash Flow Type Sellers Discretionary Cash
Seller Finance Yes
Year Established 1984
Number of Employees 1 - 3
Relocatable Not Disclosed
Number of Employees 1 - 3
Real Estate Leased
Reason for Sale Owner is retiring.
Description ABSENTEE Laundromat for sale, that has been established for over 25 years. Extremely well known for its consistent reputation of being a quality facility, from every aspect. It is currently absentee run, and the financial information reflects this. There is considerable room for growth, with the right individual, to expand the wash, dry and fold, as well as the dry cleaning end of this business. There are many businesses in the area, that could benefit from a pick up and drop off service. The landlord will allow a small portion of the unused space in the facility to be converted to a c-store. (Tobacco and lottery could mean an exponential increase in the bottom line). The owner is willing to hold financing for a qualified buyer, and is willing to entertain the proper cash offer. As the business sits, this is less than a two year return for an owner operator. A 5 lease with multiple renewals just started and is assumable. This is a great deal in any economy.
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