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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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Oil Field Services Rental Company.There is more demand in the industry than can be fulfilled at this time. Income has remained strong despite COVID. Strong working master service agreements (MSA's) with good companies.5 owners, 3 that want to retire. The two that run the day to day business would like to stay and continue growing business. They have been in the industry for many years.
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