"PRICE REDUCED" Kent County Laundromat

Undisclosed Address, Rhode Island
Business Opportunity for Sale
Catylist Listing ID: 30730984
Property Subtypes: Business Services
Building Size (RSF): 1,800 SF
Sale Price: $295,000
Year Business Established: 1961
Gross Revenue: $185,000 (Annual)
Cash Flow: $65,000 (Annual)
Last Updated: 9/10/2021

Overview / Comments

Long established laundromat in Kent County offering wash, dry and fold or self service. As an additional service, dry cleaning drop off is also available. Open 7 days a week. This establishment has operated successfully for 60+ years and has built a strong reputation within the community. This business opportunity is the definition of turn key. A solid long term lease provides the security desired. Equipment ranges from new to various ages and is mostly Speed Queen.
This is the ideal type of business as it can thrive during times of recession and pandemic.

Please see attached equipment list.

Additional Details

Industry Segment: Commercial Laundry
Reason for Selling: Owner is retiring after many years of ownership
Value of Inventory Included ($): $2,500
Value of Furniture, Fixtures, and Equipment ($): $150,000
Real Estate Status: Leased
Value of Real Estate Included ($): $0
Real Estate Lease Description: Multi year lease in place
Part of Planned Development?: Yes
Employee/Labor Description: 5 Employees. 1 Manager & 4 Attendants
Mgmt/Training Support Description: Owner will provide 2 weeks of training included in price. Extended training is available with commensurate salary.
Growth/Expansion Opportunities: The potential revenue of this business could be great increased by procuring business accounts, offering pick up and delivery service, social media promotion, and implementing a card system to allow customers to pay by credit card

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,055 20,947 38,640
Median Age: 41.9 43.9 44.31
Households: 433 8,398 14,886

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