This well respected Dry Cleaning and Laundromat facility provides laundry and dry cleaning services with value-added components such as a Bachelor Laundry service as well as Alterations and Repairs. They do all types of dry cleaning except leather and fur - for which they are an exclusive agent for Ace of Suedes in Vancouver. Coin laundries are unique small businesses in that they have no inventory or receivables and generate steady cash flow. Because like food and shelter, clean clothes are considered a necessity, this business will always be in demand. The company has a number of longstanding (over 10 years) commercial accounts such as a medical clinic, hotel, mining company, school district and police department to name a few. The business is compliant with all federal dry cleaning regulations as per Environment Canada (http://www.ec.gc.ca/regs-tetra/). Major sources of revenue: 55% dry cleaning and 45% coin laundry. Revenues are based on 98% cash operations with only about 6 monthly accounts. A new owner with the energy and vision to acquire additional commercial/industrial accounts would substantially increase profits through a minimum of two more revenue streams. Economic growth & development in the area necessitates building crews with laundry needs - a biomass hydro project, the construction of a major power line, and recently opened silver mine indicate a geographical location that is rich with industry. This is a perfect opportunity for an owner/operator who is looking for a lifestyle change in an area of British Columbia that experiences mild winters and warm summers. Value of business: $170,000. Value of land/building $325,000. Total asking price: $495,000. Must be sold together.
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About This Business- This well established business has been in operation for over 40 years. The current owners took over the company 10 years ago. They started as a simple coin laundry operation and expanded by purchasing industrial machines to meet a growing need in the oilfield and hotel industries. This very efficient and diversified business is...
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