Coin Operated Laundromat on Hawaii’s Big Island
As an Essential Business They Have Not Closed
This business is NOT closed due to the Covid-19 virus; they are an Essential business. In fact, year to date May 31, 2020 revenue at $102,578 is up 5.8% over the same period last year.
This 20+ year old coin operated laundromat, located on west coast of Hawaii’s Big Island, is being offered for sale due to the owner’s pending relocation back to the US mainland.
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 the other needed assets to operate this very profitable business. They have room to add one more machine, which the supplier has indicated can be financed. They estimate that 90% of their customers are loyal 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. The owner plus 3 part time staff manage the business. This business is being offered on a fully turnkey basis and the owner will provide a 5 year non-compete agreement and training for the buyer.
The Business currently has an equipment loan for the new equipment with a balance of about $60,000, which the lender has indicated may be assumed by a credit-worthy buyer as part of the purchase price; this will reduce your cash payment needs.
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: $265,000
Down Payment: $269,000
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 and expect that he will offer a qualified buyer a long term lease.
3 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 live in Hawaii’s paradise and own a business to pay your living costs?