SOLD – 15 Year Established Coin Laundry
This business was established in the 1990’s and is still operating to this day. The current owner acquired the business in 2012 and is looking to sell to a credible buyer. This business is located in a 5,845 SF space adjacent to a busy bazaar. Customer base is consisted of mostly Hispanic from surrounding neighborhoods. This coin operated laundry has a prime location rooted in a lower-middle class, blue collar community, which makes it perfect fit for the needs of the immediate community. The cost of services is also cheaper than surrounding competitors in the area; therefore this business has more traffic and is more attractive to the locals. The facility and equipment have also been fairly maintained, creating an edge for this business over similar nearby coin laundry services. Gross monthly revenue of 2020 averaged around $29,000 and $31,000 and has grown steadily in 2021 even amidst the pandemic. With semi-autonomous businesses such as this one, there are many ways to improve productivity and optimize operational costs. Without a need of much on site staff, more owner involvement can serve as a benefit to the business. There are many ways to proactively market this business such as direct mailing, bundle services, tall signage, and additional retail items. 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.