Laundry business for sale in West Dallas 001364

Laundry business for sale. Growing coin laundry with 3-year-old Speed Queen machines in West Dallas, is available for acquisition. This business was established in 2021 by the current owner, that has built the business from the ground up and has organically grown the operation by keeping a very clean facility while providing top-of-the-line services. Current rent is only $3,433 that ends in 2029 with a $500 increase at the end of 2024 and has a 5-year renewal option with another $500 increase. The business is located in a 2,688 SF freestanding building in a shopping center, with heavy traffic throughout all hours of the day. It is surrounded by numerous retail businesses and retail stores that attract many people to the local area. Most of the customers are individuals and families from nearby residential areas with a high concentration of Hispanic residents, resulting in an overwhelmingly Hispanic customer base. There are nearby competitors within the market area. However, the demand for coin laundry service is strong due to the surrounding demographic. Sales have been continuously growing from its first year of 215K to 388K in 2023. Sales are projected to continue growing into 2024 as January sales increased by 9% and February by 13% in comparison to 2023. Most of this growth is from word of mouth of its clean facilities, great customer service and new machines compared to its competitors. Although the laundromat offers wash and fold, it accounts for less than 2% of the sales and could be more aggressive to increase revenues along with offering pick up and delivery. This is a great opportunity to acquire a new laundromat that is growing organically with low rent.