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Opportunities
Self and Full-Service Laundry: Out of State Absentee Owner
Sold
Manager in place and wanting to stay!
CASH FLOW
$213,170
Specifications
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 sq ft 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 outof-state owner. Included in the purchase price is over $474,000 in hard assets. 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. Priced at $769,000, a 15% down payment of $115,350 returns $108,294 in the first year after debt payments! Plus, the owner is offering a 10% promissory note and 6 months of training, as a sign of good faith. This activity has brought the business to a 41% profit margin. A new owner could boost revenue by offering starching and dry-cleaning services or by offering pick up services in the area and nearby towns.
Business Highlights
- Year Established: 2012
- Location: Watford City, North Dakota
- Service Area: North Dakota
- Services: Self-Service Laundry, Drop-off Laundry, Tanning, Showers
- Building: 3600 Sq. Foot Facility
- Reason for Selling: Strategic Exit
- Personnel: 1 Full-Time Manager, 4-5 Laundry Techs
- Seller Training Period: Negotiable
- Growth Opportunities: Expand Starching/Dry Cleaning Services
- Current Owner’s Responsibilities: Minimal Oversight, lives in another state.
Clients
- Local Residents
- Out of Town Contract Workers
Specific information regarding clients is available upon the receipt of a signed Non-Disclosure Agreement.
Services
- Self-Service Laundry Machines
- Drop-Off Laundry Service
- Tanning Booth
- In-House Showers
Personnel
- 1 Absentee Owner
- 1 Full-Time Manager
- Manages the day-to-day-operations and facilities
- 4-5 Laundry Techs
- Responsible for the drop-off laundry services
Growth Opportunities
- Starch/Dry Cleaning
- The nearest facility for starching is about a 40-minute drive away, and a lot of contract workers require a starched shirt.
- Mailboxes
- Used to house mailboxes for USPS, still owns the boxes could bring that back in as an additional service
Print, sign and send to:
210 N 78th St. 2nd FloorOmaha, NE 68114
Or fax to:
f 402.939.0857