Business Summary:
This is a second generation owned local Laundromat in the heart of downtown Caldwell, Idaho. The operation is fully attended by hourly employees; the Owner runs this operation passively, spending approximately 10 hours per week on the business. The business is clean, safe and well maintained. The Owner continues to maintain and upgrade equipment, investing over $150,000 in new equipment over the last seven years. The operation has 24 double loaders, four triple loaders and two 65 pound washers, the largest capacity machines in the area.
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| Facilities / Terms of Lease:
The corner location in downtown Caldwell is prime, providing easy access for customers. The +/-3,000 SF building is currently on a month-to-month lease for $1,200 per month. The landlord will negotiate a new long term lease with the purchaser of Smith’s Laundromat. There is also an adjacent rental house and vacant lot for sale by the Owner. The Owner purchased the property to expand the parking area for the Laundromat and provide low cost living quarters for his manager.
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| Potential
Growth/Expansion:
The ideal buyer would be any person interested in a semi-passive business with a lot of upside potential.
A new Owner could expand the offerings to include folding, mending and ironing along with pick-up and delivery. Other possibilities include contract laundry services for other businesses such as hotels, health clubs, spas, etc. A complete package of information is available upon execution of a Confidentiality Agreement.
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| Competition:
Obviously the strength of the business is that it has been in operation at the same location for over 35 years and has a great reputation as a clean, reliable and safe operation. The 65 pound large capacity washers are the largest in the area; customers come to the business specifically to use these large capacity machines.
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| Reason for selling:
The owners wish to divest some of their assets.
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Seller Reference Number: BB4192
BusinessMart.com Listing Number: 86672 |
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