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5 Star Laundromat

Muskegon, MI (Muskegon County)

South parking lot with sign.
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Asking Price: $1,290,000

Cash Flow: N/A

Gross Revenue: $491,500

EBITDA: $246,064

FF&E: $400,000

Inventory: $1,000

Real Estate: N/A

Established: 1985

5 Star Laundromat

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Business Description

An 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 attracts customers through its extremely user-friendly design. The washers feature our exclusive E-cycles which are Efficient, Expandable, Expeditious and Economical. E-cycles allow our 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, 2 device charging stations, fully air conditioned, 3 sizes of laundry carts, vended snacks, soft drinks and laundry supplies, 2 automatic entrance doors, 3 well-lit parking lots totaling 32 parking spaces (11 VIP spaces), a well appointed rest room, 2 large LED TVs and plenty of comfortable seating units.

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

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:
The 3,700 sf facility features a secure, 20 year lease for the new buyer. All washers and dryers are Huebsch brand and feature stainless steel front panels and baskets. All 34 washers are hard mount front loaders. All 33 dryers are single pocket (not stacked) for 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 400 amp 1 ph. and 225 amp 3 ph., 2" water line and a 6" sewer line.
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 behind 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. The seller works an average of 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 card system either. The seller is offering a simple, coin operated, 5 star, self serve laundromat. A buyer may consider adding these additional services in the future.
Financing:
Sales verifiable by 3 years of Schedule C documentation.
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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