EXECUTIVE SUMMARY

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This 20 year plus old coin operated laundromat, located in Ocean View, on Hawaii’s Big Island, is being offered for sale due to the owner’s pending relocation back to the US mainland to be close to grandkids.

 

They have 32 machines (20 washing machines and 12 dryers), 22 of which were recently purchased and are still under the manufacturer’s warranty, and all other needed assets to operate this very profitable business.  They estimate that 90% of their customer are local residents and therefore their revenues are not directly affected by tourism. 

 

Sales revenues are strong and growing, they were up 45% from 2018 to 2020 and even with the Covid-19 virus, 2020 sales were up 11% over 2019.  They are an “essential” business and have not had to shut down due to the virus.  2020 generated over $109,000 of owner’s profit (“SDE”).  All sales are in cash.

 

This is an easy business to operate in a beautiful part of Hawaii’s paradise. This area of Hawaii is one of the lower cost places to live in the state.  This business is being offered on a fully turnkey basis and the owner will provide a 5 year non-compete agreement.

 

To receive a detailed 40+ page Confidential Business Profile with all financial and other business details please contact us for a Non-Disclosure Agreement.

 

Is now the time to own a business in Hawaii’s paradise?

 

 

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Listing ID: Big Is. Laundromat

Location: Big Island, Hawaii

Type of Entity:  Corporation

Years Established: over 20

 

FINANCIAL SUMMARY

    2020, Tax Returns, as recast

Revenue: $257,323

SDE: $109,614

 

OFFERING SUMMARY

Asking Price: $265,000

Down Payment: $269,000

Inventory: zero

Tangible Assets (F, F & E):  $144,300

Non-Compete:  5 years

Training:  2 weeks

Sale Reason:  Relocated to US mainland

 

LOCATION DETAILS

Status: Leased

Monthly Rent: $2,870.34, includes CAM and GET; $2.392 per sq. ft. per month;($34,444 per year)

Sq. Ft.: 1,200

Lease Expiration Date: 2/28/2022

Good relations with landlord and expect that he will offer a qualified buyer a long term lease.

 

EMPLOYEES

3 part-time contractors

 

COMPETITION

Limited

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TRADING HOURS

6 days per week, 8am to 6pm

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To receive a detailed 40+ page Confidential Business Profile with all financial and other business details please contact us for a Non-Disclosure Agreement.

 

Is now the time to live in Hawaii’s paradise and own a business to pay your living costs?