Western Suburbs Laundromat

SOLD!

Web ID:

Business Description

SOLD!

This Laundromat is located in a strip of shops and has been trading from its location under the ownership of the current vendors for 12 years. The income and the return are both stable and have provided the current vendors with an additional income of almost $500/week for all of the years that they have owned it.

The vendors keep an eye on the laundromat on the weekends, undertake basic maintenance and coordinate any repairs. Otherwise their main job is to collect the cash which they do 2 to 3 times a week. In exchange for free rent, the ironing lady looks after customers during the week and keeps the laundromat clean. There will need to be an exchange at settlement for the coins in the coin changer, at face value.

This is an exceptional opportunity for a family to get an additional income with a minimal time commitment that is all cash.

 

At a glance: 

  • Located in the western suburbs
  • Operates 6 a.m. to 11 p.m., 7 days per week
  • Ironing lady cleans the shop on weekdays
  • Good lease in place
  • Minimal involvement required by vendors

Extended Price Information

Goodwill $60,250
Plant & Equipment (approx written down value) $4,750
Stock at valuation (approx) Nil
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$65,000

Financial Summary

Year
Sales Return to Owner
2015/2016 $53,976 $20,521 31.57%
2016/2017 $53,053 $20,896 32.15%
2017/2018 $52,561 $20,239 31.14%
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