Established Coin Laundry and High Volume Check Cashing 001055
Prime location large coin laundry with check cashing/money transfer in Dallas is available for acquisition. This business was originally established in 2007 over a decade ago and was later acquired by the current owner in 2020. Most of the customers are middle-class Hispanics that live in the surrounding densely populated residential neighborhoods and many blue-collar individuals that work around the area. Competition is expected for this business industry, but this business has a relatively large facility and very well maintained equipment compared to other competitors. Gross Income for the coin laundry business has been in the range of $180-200K and net commission income from the check-cashing and money transfer business have been around $80-90K per year, both of which have been consistently growing over the last few years until the Covid-19 breakout in March 2020. Retail soap sales, vending machines, various game machines, and other income bring an additional net income of $85-90K a year. Although this is a coin laundry business, proactive marketing tactics need to be in place for this business to fully utilize the operation to generate maximum income capacity while growing the customer base outside the local area. There are many ways to proactively market this business such as direct mailing, bundle services, tall signage, more retail items, and more owner involvement. 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. 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.
The owner of the business has too many businesses to operate and wants to ease the burden.
The owner of the business will provide the necessary training needed to smoothly transition into the business operation.
This business is located in a 4,000 SF retail strip center in the epicenter of a highly populated residential area of Dallas and many retail businesses. All equipment is in impeccable condition and in working order.
Few competitors are within the immediate market area, but this laundromat has built a very strong customer base over the past 13 years of operation by providing exceptional customer service along with very well-maintained equipment.
Proactive marketing is needed to generate more cash flow as well as a full-time owner-operator that can cut payroll expense.
100% down at the time of closing or 50% Cash Down with SBA Financing for Qualified Buyers with Industry Experience.