30+ Year Established Coin Laundry 001217
30+ year established, owner-absentee neighborhood laundromat with growth potential is available for acquisition. This business was established in the 1990s and is still operating to this day and has been generating approximately $8,000 monthly sales and $3,000-$4,000 monthly net profit consistently in the last several years. The current owner acquired the business in 2014 and is seeking to offload this business as he has other businesses to attend to. Since the acquisition, the owner has replaced several of the washers and dryers and replaced a water heater and an AC unit in 2020. This business is located in a 2,200 SF retail strip center nearby densely populated single-family homes and other retail businesses. This business has a mixed customer base consisting of a majority with low to middle-income and does not have any competitors nearby. This business has so much potential for growth as the current owner is not fully utilizing all aspects of the business. There are no retail sales, vending machines could be added, no attendants for wash and fold, pickup and delivery service, etc. There are many ways to proactively market this business such as direct mailing, bundle services, tall signage, and additional retail items. This business does need some improvements aesthetically and more effort to expand the business by implementing retail sales and offering wash and fold and free dryers to customers. However, the business is still generating a passive income as an absentee business generating a passive income each month. A more proactive owner would greatly benefit and will be able to grow the business to fully reach its financial potential.
2 week training & support for a smooth transition
This business is located in a 2,200 SF retail strip center near a major highway surrounded by a densely populated residential neighborhood and apartments in a low to the
Since the acquisition, some washers and dryers have been replaced along with a new water heater and an AC unit.
There is no competition from the nearby area.
This business has so much potential for growth as the current owner is not fully utilizing all aspects of the business. There are no retail sales, vending machines could be added, no attendants for wash and fold, pick up and delivery service, etc.
100% down at the time of closing OR Seller Financing with 50% down.