MergerPlace

29-Yr Established Coin Laundry

Fort Worth, Texas (Tarrant)


  • Asking Price: $725,000
  • Gross Income: $396,000
  • Cash Flow: $180,000
  • Real Estate: Not Disclosed
  • Inventory: $1,000
  • FF&E: $350,000
  • Listing ID: #225790
  • Established: 1992
  • Employees: 2FT/1PT

Business Description

Office ID: #001062

Nearly 30-Year established high volume coin laundry in Tarrant County is now available for acquisition. This laundromat is occupied in a 4,400 SF space of a retail strip center surrounded by a densely populated residential area. There are a shopping mall center and major highway near the business, thereby generating continuous heavy traffic. This business was originally established in 1992, almost three decades ago, and it was later acquired by the current owner in 2012. Right after the current owner's acquisition, the facility was completely renovated, and a majority of the equipment, including the washer and dryer, was replaced with brand new. Most of the customers are middle-class Asian and Hispanic individuals that live in the surrounding densely populated residential neighborhoods. There are several competitors within the immediate market area. Still, this business has been well-positioned in the market over the last 29 years, and no new competitor has entered the market over the previous few years. Also, due to the equipment and facility upgrade in 2012, the business has continued to grow, acquiring new customers and receiving good reviews from the local community. This business generates an average of $33K a month purely from washer and dryer in this current pandemic time compared to over $40k a month before COVID-19. Once the pandemic stabilizes, it is highly expected to see a rapid recovery to its pre-pandemic level as this area used to be in much higher demand for self-serving coin laundry. Although no marketing is in place for this business, the new owner can utilize proactive marketing to attract new customers. This well-established coin laundry is ready for a potential buyer to actively involve in the business operation while marketing to grow the business to reach its maximum potential.


Business Details

Primary Business Category: Services - Other Services
Location: Texas
Metropolitan Area: Fort Worth
County: Tarrant

Company Information

Year Established: 1992
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 2FT/1PT

Financial Information

Asking Price: $725,000
Gross Revenue: $396,000
Cash Flow: $180,000
FF&E: $350,000
Inventory: $1,000
Seller Financing Available: No

Property Information

Facilities:

This business is located in a 4,400 SF space of a retail strip center surrounded by many retail businesses and densely populated residential neighborhoods. All equipment is in impeccable condition and in great working order.

Growth & expansion opportunities:

Minimal marketing is in place, and proactive marketing methods are needed to fully utilize to achieve maximum income potential.

Competition:

There are several competitors in the immediate market area, but this business has been well established in the market for the past 29 years, and no new competitors came into the market in the previous few years.

Reason for selling:

Preparing for retirement

Support & Training:

The owner of the business will provide the necessary training needed to smoothly transition into the business operation.

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Business Listed By:

V-AID Group

www.v-aidgroup.com