Well established Laundromat chain, Seven locations.

Description

Lighthouse Laundry is a seven-location laundromat portfolio operating across coastal Maine. The business dates to the late 1980s and currently reports approximately $1.63 million in annual revenue.

Financials and real estate

• Annual revenue: approximately $1,631,357
• Seven locations
• Seller-stated value of owned real estate: approximately $3.2 million
• One year of transition support represented as included

Owned real estate forms a material part of the transaction. Buyers should obtain individual property schedules, appraisals, tax information and title records rather than relying solely on the seller's aggregate valuation.

Locations and services

The company operates in several coastal Maine communities, including Portland, Freeport, Brunswick, Waldoboro and Camden. A Bath location is also identified as part of the portfolio's expansion plans. Buyers should confirm the complete seven-location schedule and determine which sites are currently operating versus planned or under development.

• Self-service laundry
• Wash-and-fold service
• Dry cleaning services
• Large-capacity and commercial-grade machines

Operations

Several locations operate 24 hours. Individual stores may also include ATMs, vending machines, WiFi and customer waiting areas.

The business has operated in these markets for decades and serves both repeat local customers and customers using the stores for larger or occasional laundry needs.

Equipment

The portfolio includes washers and dryers in multiple capacities. The seller describes the equipment as maintained and suitable for current operating volume.

Machine age, model, refurbishment history and remaining useful life should be reviewed separately for each location.

Bath expansion

The seller states that plans and specifications have already been prepared for an additional Bath, Maine operation.

Buyers should confirm the status of the site, ownership or lease rights, permits, utility capacity, construction estimates and whether any development approvals remain outstanding.

Transition

The seller is offering up to one year of oversight following the sale. The exact level of involvement, schedule and compensation, if any, should be documented in the purchase agreement.

Due diligence

Buyers should review financial performance by location, utility consumption, payroll, wash-and-fold margins, dry-cleaning arrangements, equipment condition, real estate values, environmental matters, property taxes, insurance and any location-specific liabilities before closing.

Particular attention should be given to whether dry cleaning is performed on-site or outsourced, as environmental and equipment obligations can differ materially between the two models.