Laundromat (Multiple Seattle Metro Locations)

Seattle, WA
King County

Asking Price: Annual Revenue:
$1,695,000 $1,100,000

Services: Dry Cleaning & Laundry

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RE: Laundromat (Multiple Seattle Metro Locations) Broker: Seth Rudin
Owner Financing is Available!
The seller will finance a portion of the transaction for a qualified buyer.

Quick Facts

Asking Price: $1,695,000
Annual Revenue: $1,100,000
Net Profit: Not Disclosed
Cash Flow: $470,000
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Not Disclosed
Year Established: Not Disclosed
Employees: Not Disclosed
BBN Listing #: 772235781
Broker Reference #: CLS2021

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Business Overview:

Unique opportunity to own a multiple location, strong positive cash flow coin operated laundromats in the Seattle metropolitan area. The future buyer will have a low touch business and can be as hands on or as hands off as desired (15-40 hours per week). Each location is equipped with commercial washer and dryers, change machines, soap dispensers, and a mobile app is available to process electronic payments. Wash and fold services along with outsourced dry-cleaning services are available to supplement the primary revenue stream.

At a consolidated level, the business has demonstrated consistent annual growth in sales outside of 2020 (COVID-19 Pandemic). 2018 revenues of $1,075,912 grew 8% from 2017 and 2019 revenues of $1,131,451 grew 5% from 2018. 2020 revenues of $919,475 naturally declined with the mandatory shutdowns and reduced vocation at the office, in the hospitality industry, and jobs requiring uniforms with an 18.7% year over year decline. The business is recovering in 2021 with projected annual revenues exceeding $1 million. January to June 2021 sales were $514,271. The operation nets on average 40+% in adjusted cash flow. This consistent, well performing business operates with limited marketing generating most business from walk-ups, referrals, and Google reviews (4+ stars). A more pro-active business owner can grow the performance of the business with enhanced marketing efforts.

The owner fulfills the roles of operations manager with the support of a bookkeeper.

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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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