SOLD – 29-Yr Established Coin Laundry
Nearly 30-Year established high-volume coin laundry in Tarrant County is now available for acquisition. This laundromat is occupied in a 4,400 SF space of a retail strip center surrounded by a densely populated residential area. There are a shopping mall center and major highway near the business, thereby generating continuous heavy traffic. This business was originally established in 1992, almost three decades ago, and it was later acquired by the current owner in 2012. Right after the current owner’s acquisition, the facility was completely renovated, and a majority of the equipment, including the washer and dryer, was replaced with brand new. Most of the customers are middle-class Asian and Hispanic individuals that live in the surrounding densely populated residential neighborhoods. There are several competitors within the immediate market area. Still, this business has been well-positioned in the market over the last 29 years, and no new competitor has entered the market over the previous few years. Also, due to the equipment and facility upgrade in 2012, the business has continued to grow, acquiring new customers and receiving good reviews from the local community. This business generates an average of $33K a month purely from washer and dryer in this current pandemic time compared to over $40k a month before COVID-19. Once the pandemic stabilizes, it is highly expected to see a rapid recovery to its pre-pandemic level as this area used to be in a much higher demand for self-serving coin laundry. Although no marketing is in place for this business, the new owner can utilize proactive marketing to attract new customers. This well-established coin laundry is ready for a potential buyer to be actively involved in the business operation while marketing to grow the business to reach its maximum potential.