SOLD – 8 year-established coin laundry

Business Description

8 year-established coin laundry in the hub of a large Hispanic community is available for acquisition. Established in 2008 and was later acquired by the current owner in 2011. While two competitors are within the immediate market area, they will not pose any issues as both competitors are lacking in established customers or high-quality equipment. The majority of customers are Hispanic since the area the business is located is heavily populated by Hispanics. New competition arrived in the immediate market area a few years after the acquisition, but the sales haven’t shown any significant change due to the strong establishment of this business such as convenient customer service and top-of-the-line equipment. The current pricing per machine is lower than the market price and can be used to increase to price for an increase in sales. Proactive marketing such as stamp cards for frequent customers and Valpak in the nearby communities would drastically increase sales. This coin laundry also has 3 long-term sub-tenants which generate $1,100 in Rental Income per month. Products offered in this coin laundry are wash & dry, wash & fold service, games, snacks, soap, and drinks. Sub-tenants of the facility also offer money transferring, Taco Stand, and Car Title Service. Minimal involvement of the owner and great location puts this coin laundry ahead of its competitors in the immediate market area.