Ad ID: 1472370
Type: Established business
Included in the Asking Price:
Furniture, Fixtures & Equipment: $309,400
Cash Flow: $174,060
Don’t miss this unique opportunity to purchase these well-regarded, independently owned-and-operated Laundromats in Reno. Attractive, clean, and fully attended, the Laundromats have seen an increase in revenue every quarter since the Seller took over in 2010. Both Laundromats are located in busy shopping centers with ample parking and excellent front signage. These ideal locations see a consistent repeat customer base from residential neighborhoods, large rental complexes, hotels, and the convention center. With its excellent on-line presence, the company also captures the lion’s share of tourists in the area who need laundry services (profits increase 15% each September just from Burning Man!). Five streams of revenue contribute to the company’s bottom line–laundry, gaming (8 slot machines at each location at a 70/30 split), food (hotdogs and snacks), an arcade, and a drop-off wash-dry-fold service that is quickly growing in popularity. The company’s pick-up service is popular, and they regularly serve many elderly clients, local salons, and UNR’s nursing program. This service could be expanded by setting up lockers at Tesla, Panasonic, Switch, and other local companies that would welcome this option. Converting homeowners to customers would be a lucrative revenue stream as the area’s demographic continues to shift toward people willing to pay for laundry service. Both Laundromats are turn-key, with employees in place to help oversee operations. The Seller is semi-retired and now wishes to fully retire. He’s loved owning these Laundromats and has gotten to know so many interesting people, many of whom have become friends. This is a fun business to run and provides a great income. Since the Seller is a C-Corp, the Seller would prefer that this transaction be structured as a Stock Sale. The Seller is willing to finance through an SBA loan. All interested parties will need to sign an NDA for further information.
Year Established: 1990
Facilities: Both Laundromats are about 3400 sf. The Equipment mix at each facility is as follows: 36 total washers–6 topload, 2 60-lb frontload, 1 80-lb frontload, 5 35-lb frontload, 5 50-lb frontload, and 17 24-lb frontload machines; 20 dryers–14 stacked dryers, and 6 small dryers. Both facilities have leased vending machines, cameras, point-of-sale systems, and debit and credit card readers.
Competition: Name recognition throughout Reno/Sparks. Safest, cleanest, most fun place to do laundry. Equipment is well-maintained and included in the sale. Effective advertising in place. Every aspect of the business shows strong pride of ownership. Seller has overseen the business for nearly a decade and developed many great relationships with locals, tourists, and other businesses.
Growth and Expansion: Revenues continue to increase quarterly. Continued marketing will grow the business. Expanding pick-up service to serve large corporations here/coming to town, as well as high end homeowners, would grow the business considerably, as would increasing the wash-dry-fold business. Reno’s demographic is changing and fewer people have the time/desire to do their own laundry.
About the Sale
Financing: Seller willing to finance through an SBA loan
Support/Training: 2 weeks
Reason Selling: Owner is retiring