SOLD – Owner Absentee Laundromat

Business Description

Well-established owner-absentee coin laundry in a prime location of North Dallas is now available for acquisition. This laundromat was established by the previous owner in 2005 and was acquired by the current owner in 2012. The business is occupied in a 2,272 SF space of a busy retail strip center located in a prime location anchored by one of the biggest Hispanic supermarkets surrounded by heavy retail areas and densely populated residential neighborhoods. Most of the customers are low to middle-class Hispanic individuals and families that live nearby apartments and single-family homes. Few competitors are within the immediate market area, but this coin laundry is perfectly suited to the demographics of this area as a majority of the population in this area is Hispanic. This business is highly competitive in terms of very low price points and great customer service, which attracts many locals, and its facilities and equipment are brand new and in excellent working conditions. Currently, minimal to no marketing is in place, and proactive marketing needs to be done to maximize its financial potential. There are many ways to proactively market this business, such as direct mailing, drop-off service, door hangers, flyers, social media outlet presence, etc. Expanding bundle service by having a full-time owner-operator can greatly improve the sales as well as increasing the quality of service. Also, a reconsideration of pricing can be made to generate more profit as current pricing is lower than the market average. This well-established coin laundry is perfect for those buyers who are seeking passive income while being minimally involved in the overall operation.