Today's Boring Biz (# 119): Profitable Laundrom...
Today's boring business is a profitable laundromat cash flowing $290,000 a year. Today's company is located in Denver, Colorado. Starting with cash flow, this company nets $290,000 a year or $24,000 a month. On $725,000 of gross revenue, that's a 40% cash margin. What does the company do? This is a self-service laundry operation in a great location. The sale includes 52 washers and 48 dryers and it's a well-maintained site with minimal oversight. The seller is asking for $810,000 or 2.8 times cash flow. Laundromats and coin laundry companies go for 3.4 times on BizBuySell. If you go the SBA route, a 10% minimum down payment would be $81,000. For investment highlights, there's no wash and fold or vending machines on site, a good room for improvement. There's also strong customer loyalty and there's a high foot traffic area. For risks and concerns, the first thing you want to look at is the condition of the machines. Is there any CapEx needed or spending needed to improve the equipment? What's the local competition and market? There's only one employee listed. Is there any hiring needs post-close? Disclaimer, please do your own research. You can lose more 100% of what you put in. This for informational purposes only.
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