SOLD – Well-established Coin Laundry with Real Estate
Well-established coin laundry with top-of-the-line machines placed in the hub of a dense community is available for acquisition. This laundry is occupied in a 4,000 SF of 5,653 SF retail strip center. The rest of 1,653 SF is being rented out to a small restaurant which generates extra rental income every month. This business was originally established over a decade ago in 2005 by the current owner of the business. Most of the customers are Hispanic individuals that live in densely populated residential neighborhoods with a high population count due to the area being known as the hub of the Hispanic community. Although no marketing is in place for this business, other proactive marketing methods can be utilized to attract new customers from the growing population and provide a better experience to the current loyal customer base. Competition is expected for this large industry, but the demand in the area is large enough that competitors and this business have an overflow of customers that always needs their services on a weekly basis as well as this business having immaculately maintained machines. There are many ways to proactively market this business such as direct mailing, bundle service, retail items, loyalty program, renovation, social media outlets, and hiring an additional attendant for smoother service. Hiring a new attendant will be extremely beneficial to the quality of service and fluidity of customers that cycle throughout the operation hours. Some of the real estates are currently sub-leased to a restaurant built into the facility that is bringing some extra rental income and a steady flow of customers. 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.