Outstanding Coinless Laundromat in Cleveland, Ohio

Cleveland, OH
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Asking Price:$850,000
Gross Revenue:$342,000
FF&E:$350,000
Cash Flow:$240,000
Rent:$3,000
Established Year:2015
BUSINESS DESCRIPTION

Busy, coinless Laundromat equipped with state-of-the-art machines located in a densely populated neighborhood of Cleveland is now available for acquisition. This business has been serving the community for nine years offering both self-serve and wash-and-fold services for those who prefer dropping off their clothes and retrieving them later.

Business features 35 washers and 38 dryers that are advanced, energy-efficient machines with card readers. Customers can conveniently receive a store card which is then loaded with money to be used to operate the machines Customers can use either cash or a credit card to put funds on the card. All transactions are handled by an ATM- like machine; attendants do not handle cash.

Additionally, vending machines stocked with drinks, snacks, and laundry supplies are readily available as well as seller-owned arcade games. More variety of soaps and softeners are available from the attendant. The business is efficiently managed by four part-time attendants who ensure exceptional customer service and maintain high cleanliness standards.

The owner is involved on a part-time basis, dedicating approximately six to eight hours per week to managing financials, overseeing employees, and inspecting the facility. The facility is protected by a top of the line ADT security system. Cash represents 56% of the revenue..


ATTACHED DOCUMENTS
Confidentiality Agreement Download

DETAILED INFORMATION
Location
Cleveland, OH
Inventory
Not Included in asking price
Real Estate
Leased
Employees
4
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
The building is owned by the seller and could be for sale under the right circumstances. Lease terms are negotiable but expectations are for at least five year duration although longer would be better
Growth & Expansion
There is a sister Laundromat in Lorain County that is being sold separately. A package deal could be negotiated.
Support & Training
Owner will provide training and consultation for 60 days after purchase.
Reason for Selling
Retirement
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Bill
Molchan
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Bill Molchan