2 - 9 Progress Ave, Toronto, M1P 5A4

Listing Overview

Description

This is an immaculate large coin laundry run by a couple for the past 10 years. It is one of the BEST laundromats in this part of Toronto! The store comes with the following commercial machines: 5 single 10 lb units, 10 double load 20 lb units, 6 triple load 30 lb units, four maxi load 40 lb units (popular), two 60 lb units (popular), 22 30 lb dryer units, laundry soap dispenser (point of sale), coin/change machine, 7 large laundry carts. The store can be run remotely via cell phone. Hours of operation are chosen by current owners but may be changed for longer store hours. Gross revenues are between $22k - $23K per month. This is only with existing machines and point of purchase machine. HUGE POTENTIAL to increase profits with additional revenue streams such as; (i) wash & fold by the pound business, (ii) contract for hotel/motel/hospital towels & linen business, or even (iii) third party contract for dry cleaning business. Current owners have diligently drawn an increasing customer base by pure attention to detail. Therefore, the GOODWILL of this coin laundry is apparent by the very healthy existing client-base. As an added bonus, the owners have secured a new lease agreement effective October 31st, 2024 for 10 years plus 5 year option.

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On Market

Sale Of Business

Property Type

$0 / Year

Est. Taxes

Without Property

Style

Coin Laundromat

Business Type

N

Franchise