This coin operated laundromat is an Essential business and therefore has NOT be closed due to the Covid-19 virus. In fact, year to date Aug. 31, 2020 (8 months) revenue at $167,441 is up 11.7% over the same period last year, which provided $64,575 of SDE.
This 20+ year old business, 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 provide significate utility and capacity improvements and still have 8 years left on their manufacturer’s warranty, plus all the other needed assets to operate this very profitable and easy to operate 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”) and an annulation of YTD Aug. 2020 results indicate they may be on track to make about $95,000 of SDE in 2020.
This is an easy and enjoyable 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.
To receive a detailed 40+ page Confidential Business Profile, with all financial and other business information, 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?
Close to customers 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 Seller believes that the landlord will offer a qualified buyer a long term lease. Lease Expiration Date: 2/28/2022 Good relations with landlord
Room to add another machine