SOLD – 15-year established Coin Laundry in E. Dallas

Business Description

15-year established coin laundry placed in a prime location of East Dallas is available for acquisition. The business was established in 2006 by the previous owner and was later acquired by the current owner in 2018. This laundromat is occupied in a 3,000 SF free-standing building with ample parking space just off the major highway in the city and is surrounded by densely populated residential areas and small businesses. Various services are provided at this coin laundry such as wash & dry, bundle service, game machines, and massage chairs. The majority of the customers are lower-income individuals and families from nearby densely populated residential neighborhoods and this area. Many low-income families are living in this area and this coin laundry is perfectly suited to the demographics and ethnicity of this area. Few competitors are within the immediate market area, but this business provides better customer service from bilingual attendants and a cleaner environment than the competitors. The current owner updated and renovated the business since the acquisition and installed a credit card reader on several machines for customer’s convenience. Also, recently, two 80-pound large-capacity washers have been installed, which makes this business even better than the competitors. The business offers a bundle service, reward/loyalty program, and drawing for prizes on a weekly basis. Currently, minimal marketing is in place other than word of mouth and return customers who enjoy loyalty/reward programs and weekly prize drawings, but more pro-active online and social media marketing, direct mailing, flyers, offering pick-up and drop-off service, and acquiring commercial accounts from schools, restaurants, and churches need be utilized to achieve maximum income capacity as well as growing the customer base beyond the immediate market area. There are several ways to immediately increase overall revenue and income. Currently, the vendor is putting drinks and soda into the vending machines and the revenue is split 50/50 between the vendor and the owner. The future owner can do this him/herself and take 100% of profits since the owner owns the machines. The future owner can remove the two non-working washers and put additional new games, such as coin pusher for extra income. Also, a full-time owner-operator instead of hiring additional attendants will allow the business to cut down on payroll expenses and increase the profitability of the business as well as increasing the quality of service. This well-established coin laundry is ready for a potential buyer to actively involve themselves in the business operation while marketing to grow the business to maximum income capacity.