STARK COMPANY, REALTORS® A Family Tradition Since 1908

STARK COMPANY, REALTORS ®
A Family Tradition Since 1908 Richard L Powell, Realtor Mergers, Acquisitions & Divestures, Investor
dpowell@starkhomes.com www.starkhomes.com Cell: 608.718.0696 Office: 608.836.9300 ext 429
Fax: 608.836.3744 Richard L Powell
2
Page Street Laundry
dpowell@starkhomes.com Business Summary:
This established coin operated laundry is located in Stoughton, WI. The
Laundromat has good parking and visibility. The owner has minimal regular
intervention and pays to have the property cleaned daily.
Customer Problem:
Stoughton has 1,951 multi-family housing units and three (3) campgounds with
Stoughton addresses: Viking Village, Badgerland, and Lake Kegonsa State Park.
There is only one Laundromat in Stoughton city limits.
Products/Service:
The Laundromat operates from 6:00 AM until 9:00 PM daily. They provide coin
operated washers and dryers ranging from standard to double to triple washers
and dryers. They also proved a change machine and coin operated detergents
and softeners for customers. The doors are on electronic locks permitting
customers to leave after hours without intervention by an operator to secure the
premise. A local retiree cleans the property daily.
Target Market:
There are numerous multi-family housing units one block away from the
Laundromat that do not provide laundry facilities and rental housing. There is a
campground 2 miles away and during summer months generate heavy traffic
from the campground. The campground does not provide laundry facilities.
Customers:
Current customers per the 2010 US census are 12,817 residents of Stoughton of
which roughly 5,850 live in multi-family units. Plus an additional 1,000 seasonal
campers.
Sales/Marketing Strategy:
Company Profile:
URL: ww.starkhomes.com
Industry: Real Estate Brokerage
Employees: 600
Founded: 1908
Contact:
Richard L Powell
dpowell@starkhomes.com
w (608) 836-9300 x429
c (608) 718-0696
f (608) 836-3744
Financial Information:
The Laundromat currently does not support any advertising. All business is by
repeat customers and new business is generated solely by word of mouth.
Management:
Advisors:
Provide a clean and safe environment to wash and dry clothing. The property has
numerous folder tables, carts to move clothing from machine to machine and to
the folding tables, and ample sitting arrangements while customers wait.
Laundromat also provides change, detergents, and liquid softeners to customers.
CPA: Baker Tilly
Eval: Capital Evaluation Group
Lawyer: Bucher Law Group
Lawyer: Reinhart Law Group
Business Model:
Competitors:
There is only one other Laundromat in the area. It is located outside the city limits
of Stoughton; and is beyond the limits to be considered a natural competitor. To
construct and establish a new Laundromat in Stoughton is not generally
considered financially feasible.
Investors:
Referred By:
Financials
2009
2010
2011
Revenues
$15,963
$23.217
$24,007
Expenditures
$16,432
$21.876
$20,400
Net
<$469>
$1,341
$3,607