Well-maintained, Laundromat

TYPE OF BUSINESS:  Well-maintained, Laundromat located in an eastern suburb of St. Paul. The business has an automatic system that opens and locks the doors in the morning and at night. This is a coin, token and credit card operated Laundromat. Business hours are 6:00 am to 10:00 pm seven days a week.

 

EQUIPMENT:

Dexter Washers: 2-90#, 6-60#, 6-40# and eight top loaders.

Dexter Dryers: 2-80#, 9-50#.

In addition, there is a coin changer, Phoenix gas fired water heater, 2ea. Highmark bulkheads, Spyerwash credit card system (33 readers), eight camera video security system, 8ea. Highmark folding tables, Vendrite 8 column soap vendor and all other equipment necessary to operate this business. All equipment were purchased new by the current owner in 2017.

 

FACILITY:  The business operates in a 2,240 sq. ft. space located  in a large strip center with plenty of parking. The current gross monthly rent is $4,205. The lease expires in 2027 and there are 2ea. 5-year options.

 

EMPLOYEES:  There are no employees. Owner checks on the business in the afternoon and comes back in the evening to clean. She spends about 2 1/2 hours a day at the business.

 

GROSS SALES/CASH FLOW:  Gross sales for 2021 were $201,500, 2020 were $172,177, 2019 were $181,827 and 2018 sales were $89,592. Cash flow to an owner operator is approx. $107,500.

 

ASKING PRICE:  The asking price is $620,000. The value of the equipment is approximately $220,000 and the leasehold improvements are valued at approximately $150,000.

 

REASON FOR SALE: Seller is moving.

 

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About Bill Kraemer

Bill Kraemer brings a unique skill set to the business broker arena. As a former business owner himself, Bill understands what it takes to develop, build and successfully sell a business for maximum value. He has the unparalleled ability to identify individual strengths and align buyers with the proper businesses. His passion, experience and honest approach give him the ability to relate to business owners and their enterprises. Bill has over 30 years experience in the Minneapolis/St. Paul marketplace and has established a reputation as a trusted business advisor to clients and businesses alike. He specializes in buy/sell transactions spanning across manufacturing, distribution, franchises and service industries. Bill lives in Apple Valley with his wife of 30 years, Susan and their two children – Lauren and Nick. Bill loves spending time with family and friends and is an avid outdoorsman.

Contact the listing agent to learn more.