Self Service & Dropoff Laundromat- 100% Absentee (North Dakota)

This 3,600 sq ft facility offers self-service laundry, shower facilities and drop-off services where employees will wash, dry and fold laundry for the customer. It is strategically located in Watford City, ND, which is a temporary home for over 100,000 laborers who migrate to the region for work in the agriculture, fields, and energy industries, and reside in temporary homes without the ability to do laundry. North Dakota is ranked 2nd, after Texas, as the highest oil producing state. Due to this fact, many oil companies will send swathes of contractors to this area and this business is noted as a preferred laundromat for their employees. The Watford area has 120,000 full-time residents but with the non-resident people who live there for work, the population is more than double. Currently, the business has 1 general manager along with 4-5 laundry techs. This spacious laundromat was established in 2012 and competition in the area is very low. The payper-load machines utilize a card service as opposed to cash and coin which is much more secure and safe, especially for the out-of-state owner. Priced at $749,000, a 10% down payment of $74,900 returns $130,062 in the first year after debt payments – a 173% return on investment! Plus, the owner is offering a 10% promissory note and 6 months of training, as a sign of good faith. This activity has brought the business to a 39% profit margin. A new owner could boost revenue by offering starching and dry-cleaning services or by offering pick up services in the area and nearby towns