1st Class Coin Laundry In Clermont Close to Many apartments and homes

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Asking Price:
$465,000

Gross Revenue:
$300,000
Cash Flow:
$105,000
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$500
included in asking price

FF&E:
$250,000
included in asking price

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Business Description

This is one of the best coin laundries in Central Florida and has no competition for miles and miles. It is well established and has a mixed customer base of young families and retirees that surrounds the shopping Center that is right on the two main roads running through the center of Clermont that is on the border of Lake and Orange County. This is a growing community and this business is only going to get better. Seller has had the business for 14 years and it was run by his wife and one part-timer. Since her operation, the business has been almost entirely left to the manager to run with the husband overseeing it and going in at the weekend to give the staff a day off. Sellers husband has two other businesses and cannot give this one any more time. This is a cash-driven business and it has good records. The lease is long term and the rent is about $4,800 per month for 3,000 square feet. Equipment is in great shape and this is an easy business to run as it has very few employees, no receivables, no inventory and no competition from the internet or high tech depreciation of equipment. The seller is willing to look at all offers and ones that include him carrying back a small loan. This is a great business that is in a great location and has no competition fore miles in either direction. Seller has just installed 3 new washing machines and paid $2,000 to have all of the dryers serviced and cleaned so they work more efficiently

About the Business

Location:
Clermont, Florida
Year Established:
1994
Number of Employees:
2
Real Estate:
Leased
Building Sq. Ft.:
1,850
Rent:
$4,500.00 Per Month
Facilities:
This coin laundry is well laid out, 25 coin washing machines and 35 dryers and offers not only coin washes but wash dry and fold services as well as plus dry cleaning drop off and pick up services. It has extra large and medium washing machines that cater for all families large or small. It has parking right out side of the door and has a very safe and clean environment. Located in a strip center with a McDonald's, Bravo's Supermarket, Walgreens and other small stores that are customer drawing stores..
Market Outlook/
Competition:
No competition for miles and no other will be allowed as far as the seller knows, and according to the City Fathers they do not have the water in the area and do not want any more coin laundries or theses types of businesses. Seller cannot guarantee this but this is what he has been told.
Growth & Expansion:
Seller has installed some more new equipment and there is not a lot more to be done inside, lights have been renewed, dryers cleaned, 3 new machines installed. However, more advertising never hurts but there is not much more an operator can do to improve this business. The business gross sales are up over last year and they were up the year before. Not many businesses are growing as fast as this in this economy.
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About the Sale

Reason For Selling:
Wife ran the business but has had an operation and cannot work anymore.
Training/Support:
Seller will train for a week. Has a manager who will stay with a new owner if required.
Seller Financing:
Seller may finance $50,000 5 years 6%

Listing Info

ID:
687952
Ad Detail Views:
3857

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Business Listed by

John Price

John Price Broker & Associates
License# BK3007512

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