Coin Operated Laundromat on Hawaii’s Big Island
As an Essential Business They Have Not Closed
This 20 year plus coin operated laundromat, located on Hawaii’s Big Island, is being offered for sale due to the owner’s pending relocation back to the US mainland.
They are deemed an essential business and therefore have not had to shut down.
They have 32 machines (20 washing machines and 12 dryers), 22 of which were recently purchased and are still under 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 29% in 2019 versus 2018. 2019 sales of $220,000 generated over $89,000 of owner’s profit (“SDE”).
This is an easy business to operate in a beautiful part of Hawaii’s paradise. This business is being offered on a fully turnkey basis and the owner will provide a 5 year non-compete agreement.
Listing ID: Big Is. Laundromat
Location: Big Island, Hawaii
Type of Entity: Corporation
Years Established: over 20
2019, Tax Returns
SDE: $ 89,500
Asking Price: $299,000
Tangible Assets (F, F & E): $144,300
Non-Compete: 5 years
Training: 2 weeks
Sale Reason: Relocated to US mainland
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
2 part-time contractors
6 days per week, 8am to 6pm
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?