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5 Star Laundromat

Muskegon, MI (Muskegon County)

South parking lot with sign.
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Asking Price: $1,230,000

Cash Flow: N/A

Gross Revenue: $501,500

EBITDA: $250,000

FF&E: $500,000

Inventory: $2,000

Real Estate: N/A

Established: 1985

5 Star Laundromat

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Business Description

A unique, exceptional, market-dominating laundromat

This 5 star laundromat has a multi-year record of strong sales growth. Extremely efficient LED lights brighten up the interior as well as the 3 exterior parking lots and also light up the large pilon sign.

This laundromat boasts an extremely user-friendly design. The washers feature our exclusive E-cycles which are Efficient, Expandable, Expeditious and Economical. E-cycles allow the customer to customize each cycle to her load. Convenient single pocket dryers offer a basket that is just the right height for loading and unloading.

Additional amenities include: uniformed attendants, a rear load ATM, 3 rear load currency changers, free WIFI, free device charging stations, fully air conditioned, various sizes of laundry carts, snacks, soft drinks and laundry supplies, automatic entrance doors, well-lit parking lots totaling 32 parking spaces (11 VIP spaces), a well appointed rest room, LED TVs and comfortable seating units.

Security is provided by a remote access, 22 camera CCTV system, an alarm system and 2 roll up steel security doors.

The 3,700 square foot building comes with a fresh, 20 year lease or the real estate can be purchased separately. Either way, the buyer is assured a secure future with no unpleasant surprises.

Detailed Information

Location:
Muskegon, MI
Inventory:
Included in asking price
Real Estate:
Owned
Building SF:
3,700
Employees:
5
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
All 34 washers are quality Huebsch hard mount, high extract washers (no top loaders or cheap soft mounts). All 33 dryers are high quality Huebsch single pocket (not stacked) dryers which provide maximum customer convenience and ease of service. A two furnace, high efficiency heating system and 24 ton of air conditioning heats/cools the building. Two, 199,000 btu water heaters provide hot water. The building has a 400 amp 1 ph. and a 225 amp 3 ph. electric service, a 2" water service, a 6" sewer service and a 2" gas service.
Competition:
This dollar coin only laundromat is situated at the interchange of an interstate highway and a state highway - both with high traffic counts. Access to the 3 parking lots is direct and easy. This prime location has a number of popular, fast food and small retail franchises and gas stations in the immediate area. A large residential area is directly north and west of the property with another large residential area a block south of the property.
Growth & Expansion:
The current business is a simple self-serve, coin laundry with a strong record of growth. An effective advertising program is in place. Due to the design, business plan and recent upgrades, the seller works an average of just 10 hours per week. No drop off laundry, pick up and delivery, dry cleaning or other complicated, labor intensive services are offered. There is no high maintenance/high fee card system either. The seller is offering a simple, self serve laundromat. An energetic buyer may add an additional profit center in the future.
Financing:
Last 3 years of 1040 Schedule C's accurately reflect recent sales and expenses.
Support & Training:
A 2 week orientation followed by a 2 month training program is supplemented with a 6 month support program to thoroughly immerse the buyer into the business.
Reason for Selling:
The owner wishes to retire after over 50 successful years operating laundromats.
Business Website:
http://muskegonlaundromat.findalaundry.org/
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Business Listed By:
Larry Adamski

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