Hawaii Coin-Operated Laundromat – Cash Driven - 74 units
This full-service coin operated laundromat is largest on the island of Oahu and has been in the same location for so long it has become a fixture in the community; they are the preferred supplier in this large market. They are conveniently located on a busy street, close to many customers and have plenty of free customer parking, a big plus in Hawaii. They have 74 laundry units (washers & dryers). They are fully air conditioned, provide a comfortable, clean and safe environment for their customers, have a friendly, helpful staff and offer wireless connections including Netflix, video games and sell many food and drink items, as well as a line of retail laundry products. Most of their revenues are in cash.
In addition to the coin-operated laundromat, they also offer
a wide range of commercial laundry services for hotels, apartments, resorts and dorms which include delivery service;
they provide a professional laundry management service, using laundry equipment the Business owns, for customers, like hotels, public service housing and retirement homes, etc. where the Business runs and maintains their customer’s guest laundry facilities to the highest standards, reduces the customer’s operating costs and provides a good source of additional revenue for their customers – this is the best growth opportunity;
a drop off / wash & fold laundry service; and,
dry cleaning services, which is subcontracted.
In their 2,400 square feet retail space they have made a massive investment in washing and drying laundry machines, as well as, a full array of other tangible assets.
5-year lease, expires in 2023; No percentage rent; Good relationship with landlord
Average monthly Utilities cost – first half of 2022:
Water & Sewer: $2,041/month
LP Gas: $3,720/month
They are recovering from Covid and they see good growth and profit opportunities in the coin laundry, increased retail sales, commercial laundry services and the laundry management services markets.
Listing ID: HI – Laundromat
Location: Hawaii (Island Confidential)
Year Established: 1990
Asking Price: $199,000
Seller’s Note: $99,000, 36 months, 7%, $3,56.83/month
Included Inventory: $3,875 (mostly propane)
Tangible Assets: $200,000 (replacement)
Non-Compete: 5 years
Training: 2 weeks
Sale Reason: Raise capital for new investments
Busy traffic location, free parking and close to lots of customers
REAL ESTATE/LEASE DETAILS
Sq. Ft.: 2,400
Office and 2 bathrooms
Current Monthly Rent: $8,481/month ($101,772 per year), including Rent, CAM and Tax
No Percentage Rent
Other: Current lease expires in 2/28/2023
Lots of opportunity to expand the route business.
This business is for sale on a total turnkey basis including all tangible and intangible assets.
This is a great opportunity to live and work in Hawaii. Please contact HBS for a detailed confidential business profile.