Office ID: #001067
Well-established prime location coin laundry in Dallas is available for acquisition. This business was originally established by the current owner in 2004. It is occupied in a 5,000 SF end-cap space of a retail strip center next to the busy intersection surrounded by many businesses and densely populated residential areas. To fully utilize the space, there is a sub-lease agreement in place with independent financial services for $800/month. Most of the customers are low to middle-class individuals and consist of a good mix of ethnic groups that are from the surrounding densely populated residential neighborhoods and local businesses while the Hispanic customers are predominant for this business. Competition is expected for this business industry, but this business has a relatively large facility and very well-maintained equipment compared to other competitors. A majority of equipment has been replaced as brand new within the last 5 years to keep up with demand and satisfy the customers. This business provides free drying for the customers and generates an average of $30,000 per month purely from the washers before, during, and after the pandemic. Retail sales, vending machines, various game machines, etc. bring an additional net income of $36,000-48,000 per year. Although this is a coin laundry business, proactive marketing tactics, especially all online and social media platform, need to be utilized to generate maximum income capacity while growing the customer base outside the local area. A full-time owner-operator will be extremely beneficial for this business as it will cut payroll expenses on having unnecessary employees and boosting the quality of the customer service. Expanding bundle service by having a full-time owner-operator can greatly improve the sales as well as increasing the quality of service. Also, if a new owner can add PUD (Pick-up and Delivery) service by hiring additional employees, offer loyalty programs, implement card payments, the owner can certainly increase much more revenues to the business than now as the demand is huge for the area. This business has everything in place for a potential buyer to proactively market this business while being fully involved in the day-to-day business operation.
This business is located in a 5,000 SF end-cap space of a retail strip center surrounded by an enormous presence of retail chains and densely populated residential areas. All major equipment has been newly replaced with top of the line in the past 5 years.
Minimal marketing is in place, and proactive marketing methods are needed to fully utilize to achieve maximum income potential.
This business has not only built a very solid customer base for the past 17 years but also received good reviews from many customers due to its quality improvement through continuous equipment replacement.
The owner will provide sufficient training for an agreed-upon period to make the transition into the business as seamless as possible.