NOT DISCLOSED, Illinois
| Asking Price |
$350,000 |
Year Established |
2012 |
|
| Annual Revenue |
$0 |
Reason for Selling |
Relocation |
|
| Annual P/L |
$0 |
Attention |
Daniel Hayes |
|
| Annual Cash Flow |
$0 |
Listing Number |
988404 |
|
| # of Employees |
1 |
Business Category |
Services: Dry Cleaning & Laundry |
|
Business Overview:
This developer territory resale encompasses Cook, Lake, DuPage, and McHenry counties, with a population exceeding 9.1 million people. The territory includes forty-five (45) licenses and currently has a laundromat generating approximately $17,000 per year in passive income. An additional laundromat is scheduled to open soon, while two more are in the final stages of construction. The total price includes a license to open your own laundromat. On average, individual units generate $420,000 per year in revenue and net between $175,000 and $220,000 per year, depending on the degree of in-house financing utilized.
As the developer, you will market to your area and qualify potential candidates. Once the Franchise Agreement is signed by the new franchisee, and in collaboration with the corporate team, you will assist in launching the franchisee and periodically monitor their progress throughout the year. The franchise resale is structured to be managed semi-absentee and presents an uncommon opportunity in the current franchise industry.
Each new franchisee earns you $24,500. Selling 40 licenses can yield up to $980,000. You also receive 2.75% of the annual revenue per unit. On average, laundromats earn over $420,000 annually.
The new owner gets the business manual, corporate website, training, support, marketing material, mentoring, and continuing education. Duties include marketing to potential store owners and working with the franchise company and franchisees to ensure their success.
Given the territory's size and the fragmented competition, this is a great opportunity for someone with business acumen, sales and business development experience, and a strong sense of community.
Property Features and Assets:
<p>Area developers are generally home-based.</p>
Market Competition and Expansion:
<p>The Chicagoland market of 9.1 million people can hold 1000+ laundromats. Chicagoland's laundromat industry is very fragmented, with most existing laundromats outdated at best. The new laundromat industry is booming, and this is the only nationally branded franchise laundromat—and it is eco-friendly!</p><p><br></p><p><br></p><p><br></p>
Additional Details:
- The property is Leased.
- The owner is willing to train/assist the new owner.
- This is a homebased business opportunity.
- This is a franchise resale opportunity