Coin Laundromat with Fluff & Fold Service

Norfolk, VA
Norfolk City County

Asking Price: Annual Revenue:
$145,000 $100,000

Services: Dry Cleaning & Laundry

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RE: Coin Laundromat with Fluff & Fold Service Broker: Charles Broadwater, Jr.

Quick Facts

Asking Price: $145,000
Annual Revenue: $100,000
Net Profit: Not Disclosed
Cash Flow: $70,000
Total Debt: Not Disclosed
FF&E: $48,000
Real Estate: Not Disclosed
Year Established: 1980
Employees: 3
BBN Listing #: 245838944
Broker Reference #: RICHMVA001-N1506

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Business Overview:

Forty five year history behind this laundry business. The current owner has operated the business semi-absentee for 30 years of that time. It’s time to retire and let someone else enjoy the profits. High profitability is a result of the business operating on well water and good rent structure. The profitable Fluff and Fold service is a significant part of the business income because of the neighborhood demographics. There is further opportunity for an owner-operator to maximize profits by minimizing the 3 full-time staff hours. The location is ideal for this service business which has become a landmark in the area. The lease is valid until 2024 and could be extended. The owner is willing to allow buy to validate deposit collections during the diligence period.

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Additional Details:

  • The property is leased.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

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