DonofPaw
03-15-2008, 12:48 AM
The business is located in a suburban area haven't run the demographics yet but they won't look very good.... as such 70 percent of the business is WDF according to the owner. Break down of numbers as follows.
Asking Price 53,000
92,000 Gross Sales
26,520 Rent
2,832 CAM
1,075 Insurance
8,520 Utilities
780 Telephone
9,600 Gas
1,200 Repairs
1,200 Supplies
468 Cable
Net 39,805
Machine Break Down
10- 18 pounders by Launderater 3.00 Vend
11 Toploaders by Maytag 2.00 Vend
12 Driers by IDC .25 for 5 mins
I need to check area but no competition that I can see around. Owner said some of the large apartment complex people use the machines as they don't like waiting around but the bread and butter is WDF from upper middle class neighborhood and some comercial.
Owner and wife is moving on to warmer climates been in the business for 30 plus years.
Owner does 3 year leases with landlords been in location for 12 years doesn't think that he has options on the lease, if I was going to purchase this would def. need to be negotated with land lord. Space is small- low square feet, might have room for a triple... the owner has one but I think it is broken.
Would this be something that would interest you? I would want to keep day job and hire attendant as I would make more this way. Might be able to hire someone I know to do the hours during the week. It is also just under an hour away though we could move a lot closer next year.
I have not figured attendant pay into this... any thoughts?
Could I make money by modifying the store a bit and extending hours unattended... get a locking system and camera system to see if I could pick up more coin-op since store is 9-5 mon-sat and 9-2 Sun?
I've learned so much from everyone on here I really feel like I know some of you now I would appreciate some advice, I know I have a lot more research to do on this but this is the first store I'm taking a much closer look at and I would like it to be ripped apart on this one.
Thank You,
Don
Asking Price 53,000
92,000 Gross Sales
26,520 Rent
2,832 CAM
1,075 Insurance
8,520 Utilities
780 Telephone
9,600 Gas
1,200 Repairs
1,200 Supplies
468 Cable
Net 39,805
Machine Break Down
10- 18 pounders by Launderater 3.00 Vend
11 Toploaders by Maytag 2.00 Vend
12 Driers by IDC .25 for 5 mins
I need to check area but no competition that I can see around. Owner said some of the large apartment complex people use the machines as they don't like waiting around but the bread and butter is WDF from upper middle class neighborhood and some comercial.
Owner and wife is moving on to warmer climates been in the business for 30 plus years.
Owner does 3 year leases with landlords been in location for 12 years doesn't think that he has options on the lease, if I was going to purchase this would def. need to be negotated with land lord. Space is small- low square feet, might have room for a triple... the owner has one but I think it is broken.
Would this be something that would interest you? I would want to keep day job and hire attendant as I would make more this way. Might be able to hire someone I know to do the hours during the week. It is also just under an hour away though we could move a lot closer next year.
I have not figured attendant pay into this... any thoughts?
Could I make money by modifying the store a bit and extending hours unattended... get a locking system and camera system to see if I could pick up more coin-op since store is 9-5 mon-sat and 9-2 Sun?
I've learned so much from everyone on here I really feel like I know some of you now I would appreciate some advice, I know I have a lot more research to do on this but this is the first store I'm taking a much closer look at and I would like it to be ripped apart on this one.
Thank You,
Don