Seize the chance to own a fully revitalized laundromat that has been a staple in its community for over 35 years. Located in the heart of a densely populated residential neighborhood, this laundromat presents a remarkable opportunity for growth and profitability.
- Longstanding Community Presence: This laundromat boasts a 35-year presence in the area, recently acquired in August 2023 by an owner committed to restoring its reputation and operational efficiency.
- Significant Recent Investments: The new ownership has invested approximately $600,000 in renovations and new equipment, including 50 state-of-the-art SpeedQueen machines, enhancing both the aesthetic appeal and functionality of the space.
- Strategic Location: Situated in a middle-class neighborhood surrounded by three schools, the laundromat benefits from consistent foot traffic and a steady customer base.
- Spacious Interior: The 1,800 square foot facility operates with a new 10-year lease, including a 5-year extension option, ensuring long-term stability at a monthly rate of $3,800.
- Modern Equipment: Features a range of new washers and dryers from 25 to 80 lbs capacities, equipped with FIPS controllers for enhanced efficiency and customer satisfaction.
- Owner Operated: Currently managed by the owners who actively participate in daily operations, ensuring high standards of customer service and operational oversight.
- Skilled Team: Supported by 3 employees, including two full-time and one part-time, who contribute to a smooth operational flow.
- Additional Services: Offers a popular wash and fold service, adding a valuable revenue stream to the traditional self-service model.
Growth and Expansion Potential:
- Value-Add Opportunities: With no existing contracts, there is significant scope to establish long-term service agreements, potentially with local businesses or schools.
- Marketing Potential: Minimal current advertising opens vast opportunities for targeted local marketing strategies to increase awareness and attract new customers.
- Modernization Opportunities: Introducing a card payment system could modernize the facility, attract a broader customer base, and provide enhanced convenience.
Investment Appeal: This laundromat is more than just a business; it’s a community fixture with a robust potential for growth. With its strategic location, brand-new facilities, and solid foundation, it offers a promising opportunity for an entrepreneur looking to enter or expand in the laundry industry.
