This coin laundry is located N.E. of Cincinnati in a well populated, growing area. Occupying the same facility for over 10 years, this business has steady, repeat customers and limited competition. The business has over 60 washers and dryers with capacities up to 60 pounds.
The business is operated primarily absentee with the owner devoting a couple hours a week in bookkeeping. The owner uses outside help for all repairs.
The business is located in a large shopping center which provides excellent access, parking and high visibility. The facility is clean, bright with many windows and has an atmosphere of a well maintained operation.
INVESTMENT HIGHLIGHTS:
• Absentee Business
• Limited Competition
• Profitable History
There are several areas of opportunity to increase sales and profitability of the business:
• Become a drop-off store for dry cleaning.
• For an owner who is mechanically inclined, repair of minor equipment problems could save $5,000 /yr.
• An owner who wishes to work in the business on a regular basis could save a good portion of the $44,000+
in employee wages paid each year.
REASON FOR SALE:
The owner is retiring from his regular employment and would also like to remove the responsibility of owning a business.
PURCHASE PRICE:
The business is offered at $205,000 based on an asset sale, free and clear of debt. The original cost of the assets of the business is in excess of $200,000.
FINANCIAL SUMMARY:
12 mos 8 mos
2009 Proj 2009
Total Revenues $ 215,000 $ 143,436
Adjusted Cash Flow $ 46,700 $ 31,141
ACF: Profit/Cash Flow the business generates to the owner after adjustments. |
