Established Coin Laundry - Great Location!

Tukwila, WA
King County

High traffic area

Asking Price: Annual Revenue:
$130,000 $151,876

Services: Dry Cleaning & Laundry

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RE: Established Coin Laundry - Great Location! Broker: David Smith
Owner Financing is Available!
80% down case by case basis

Quick Facts

Asking Price: $130,000
Annual Revenue: $151,876
Net Profit: $1
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: $50,000
Real Estate: Not Disclosed
Year Established: 1999
Employees: 2
BBN Listing #: 303951531
Broker Reference #: dspaclaun

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Business Overview:

Very unique business for sale, if you like to have your hands in many money-making activities at one time then maybe this business is a good fit for you. Also easy on your body as none of these money-making activities are labor intensive. This business makes $$$ from a huge repeat customer base of self-service washer and dryer usage. Then there is $$ made from offering a drop off service for in store cleaning for customers, $$ is made from being a drop off point for dry cleaners’ pickup. This laundromat offers snacks which also generate extra income. Then there is at least $800 a month made with money transfers. This business even has 5 fully operational tanning booths that get pretty busy especially during the summer months. About $300 to $400 a month busy. This is without a website or any marketing being done. Seller says he nets over $8,000 a month from this business. Many new and or newer washers and drying machines. Square footage is 3750 so plenty of space for new owner to be creative with some other money-making ideas of their own or just enhance the services that are already here. Such as the snack area, it could be taken up a level or two and add a full snack bar and maybe even offer espresso coffee type drinks. Maybe offer more ethnic based food and drink snacks to better cater to the ethnic makeup of this neighborhood. Even the dry cleaner drop off services could be taken up a level. And with a little marketing on the tanning booths, profits would for sure rise. So there really is plenty of untapped dollars being missed out on. There is plenty of parking and easy in and out parking for your customers. Signage and visibility are strong. This business is located on a very busy street with several solid anchors in place that keep this plaza busy with people. This is a great location for a coin laundry. This type of business lends itself well to absentee or semi absentee ownership. This type business needs minimal employees so no huge labor costs will be incurred by new owner. Seller has owned this laundromat since 2003 and wants to retire now. Come check this business out, bring a load of dirty clothes and see for yourself how clean this business opportunity is.

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Property Features and Assets:

Base monthly lease is $4,811 and monthly triple net is $3,133 it should be noted that the water bill is covered with this triple net cost. This is a laundry so that is a good savings for owner. Lease is assignable and has a 5-year option to renew. Current lease expires May of 2020. About 3,750 square feet. Close to 100 combined washers and dryers please see the equipment list for further breakdown. 5 fully operational tanning booths. Plenty of parking and easy access for your customers.

Market Competition and Expansion:

Ways to expand upon an already solid cash flow, new owner needs to get a website and market and advertise the tanning booths. Right now, they are almost a secret. There is 3750 square feet so new owner has the space to be creative. Take the snack area for example it could be taken up a level or two and add a full snack bar and maybe even offer espresso coffee type drinks. Maybe offer more ethnic based food and drink snacks to better cater to the ethnic makeup of this neighborhood. There is enough space to even offer alteration services. Not any much competition, this is a very unique business.

Reason for Selling:

Owner wants to retire

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 a franchise resale opportunity.

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