Business Bio: 10th Avenue Laundromat Express

By Bob Nieman, CLA Member posted 08-30-2017 12:09

  
Vince Lograsso
10th Avenue Laundromat Express
Lake Worth, Fla.

Before Getting into the Laundry Business…

Lograsso was – and still is – in the restaurant business, as well as investing in commercial real estate.

Store Opening

October 2015

Business Hours

7:00 a.m. to 10:00 p.m. during the week, and 6:00 a.m. to 10:00 p.m. on the weekends

Staff

Three full-time attendants

Total Square Footage

4,620 square feet

Parking Availability

There are 30 parking spaces in the back of the store, which are reserved for the laundry, and then more general shopping center parking in the front.

Lease or Own?

A 10-year lease, with two five-year options.

The Building

10th Avenue Laundromat Express was built from the ground up. The construction process took nine months and cost approximately $1 million, including the laundry equipment.

Turns Per Day

About three to five

Utility Costs

The store’s utility costs represent approximately 18 percent of the business’ gross revenue.

Marketplace Demographics

The laundry is located in a relatively low-income, heavily Hispanic area, with a large percentage of renters.

Payment Options

Credit/debit cards and cash

Washers and Dryers

18 Continental 20-pound frontloaders, $3.49
28 Continental 40-pound frontloaders, $5.49
11 Continental 55-pound frontloaders, $7.49
10 Continental 80-pound frontloaders, $8.99
12 Continental 30-pound stack dryers, 39 cents for 10 minutes
15 Continental 45-pound stack dryers, 59 cents for 10 minutes

Water Heating System

NATCO water heating system

Card System

CCI card system

Bill Changer

1 American Changer bill changer

Laundry Carts

30 R&B Wire Products laundry carts

Folding Tables

30 customized, stainless steel folding tables

Flooring

Tile flooring

Lighting

LED bulbs

Beverage Vending

1 beverage vending machine

Snack Vending

1 snack vending machine
1 ice cream machine

Arcade-Style Games

1 claw crane merchandiser game

Televisions

6 50-inch televisions

Additional Amenities

• Over-the-counter detergent sales
• Free Wi-Fi access
• ADT security system
• Fully air-conditioned

Wash-Dry-Fold Service

$1.49 per pound; 10-pound minimum

Distributor

The Laundry Shop, Pembroke Pines, Fla., (855) 888-9274
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