A tremendous opportunity for a new owner to step in and take over an established laundromat in Baltimore, Maryland. The business has been established for over 25 years, but is currently run on an absentee basis. The owner recently invested in upgrading the equipment to top of the line Dexter brand, so there are many years of remaining service life on laundry machines. The business is located in a small neighborhood shopping center off a major thoroughfare with a loyal customer base. Along with reasonable rent of $1600/month, there are good lease terms with many years remaining.
Perfect for an owner-operator or as part of a family business. There is an excellent demographic profile of neighborhood laundromat users that suggest many more years of dependable cash flow. Fresh eyes and contemporary marketing methods can take this solid business to the next level.
Located in a strip mall shopping center on a main thoroughfare. The space is approximately 2000 sq feet with 31 Washers and 20 Dryers.
The business is located in a captive shopping center in center of neighborhood. Adding services like wash and fold and/or pick up and delivery would increase revenue as would offering check cashing, money transfer, lottery, phone cards, etc.
There is standard competition for the industry and market, but this laundromat is a well-known and established business. There is a high density of apartments and renters enabling this laundromat to attract new customers. Limited retail space in the immediate area suggests low probability of new competitor emerging.
Owner wants to pursue other business interests.
Seller will provide necessary training and support.