Absentee Owned Laundromat With Full-Service
Williston, ND Williams County
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- RE: Absentee Owned Laundromat With Full-Service
- Contact: Not Disclosed
Quick Facts
| Asking Price: | $765,000 | |
| Annual Revenue: | $519,267 | |
| Net Profit: | Not Disclosed | |
| Cash Flow: | $198,271 | |
| Total Debt: | Not Disclosed | |
| FF&E: | Not Disclosed | |
| Real Estate: | Not Disclosed | |
| Year Established: | 2012 | |
| Employees: | 6 | |
| BBN Listing #: | 939543 | |
| Broker Reference #: | B2C005-D2 |
Business Overview:
Strategically located in Williston, ND, which is a temporary home for over 100,000 laborers who migrate to the region for work in the agriculture, fields, and energy industries, and reside in temporary homes who need the access to do laundry. This 3,600 square feet facility offers self-service laundry, shower facilities and drop-off services where employees will wash, dry and fold laundry for the customer. The owner lives out of state and only visits a few times a year. The business has 1 general manager along with 4-5 laundry techs. This spacious laundromat was established in 2012 and competition in the area is very low. The pay-per-load machines utilize a card service as opposed to cash and coin which is much more secure and safe, especially for the out of-state owner. Included is over $474,000 in hard assets, with the bank loan being $490,000 this is nearly 100% collateralized. An SBA lender has pre-approved this deal structure. North Dakota is ranked 2nd, after Texas, as the highest oil producing state. Due to this fact, many oil companies will send swathes of contractors to this area and this business is noted as a preferred laundromat for their employees.
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Property Features and Assets:
Furniture & Fixtures: $76,137
Equipment: $381,868 Washing Machines, Dryers, Industrial Machines, Tanning Bed, Showers
A/R: $16,143
Market Competition and Expansion:
Expand starching and dry-cleaning services. Offer pickup service. Set up business accounts for the massive amounts of employees these large corporations bring to ND. Add digital Slot Machines for play while customers wait for laundry.
Reason for Selling:
Divestment
Additional Details:
- The property is Leased.
- The owner is willing to train/assist the new owner.
- This is not homebased business opportunity.
- This is not a franchise resale opportunity
Documents:
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