Coin Laundries Turnarounds For Seasoned Operators

Business Overview:

This is a unique turnaround opportunity to purchase one of two coin laundries available – one in Ft. Worth, and the other in South Dallas. They could have significant upside after a complete retool. Currently not profitable and low sales.

Extreme turnarounds are generally purchased by current coin operators who will improve the appearance and replace most, if not all, of the equipment who simply want a location with the mechanical infrastructure in place.

A number of the Owner’s other locations have already sold under the same conditions, where they were willing to pay the price –all to existing operators who are experienced in the industry. Basically they paid for the location of an existing, operating coin laundry with longevity, even though they were not profitable at the time of purchase and half the equipment was not functional.

Firm price for Ft. Worth: $94,800./ S. Dallas: $84,900.

Please note that the cost of retool could run into several hundred thousand dollars. And these laundries will not meet SBA parameters. There are other financing avenues the listing Broker could discuss with you. However, suffice it to say, they will require significant capital in addition to the purchase prices of the laundries and the extraordinary deposits required for utilities, lease etc.

Note that many landlords are as of late unwilling to lease to a coin laundry – more explained in the Seller’s package after receipt of the non-disclosure from qualified buyers. Due to the mechanicals in place – gas, electric and plumbing – it is significantly less expensive to purchase an existing laundry than to start from scratch.

Also, the Seller has the locations staffed with part time attendants with limited hours. No bundle service has ever been offered.

A fully executed Non-Disclosure is required by a financially qualified buyer in order to receive more information. If you just “think” you want to be in the coin laundry business, these are probably not for you.

This is not an offer to sell securities. This is not a solicitation to sell securities.

Listing Broker Firm: Erin Bonner, Independent Transaction Consultant & Business Broker : Contact Erin. A phone conversation will be required prior to sending the NDA.

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Property Features and Assets:

Monthly rent & square footage varies by location. Average is about 2,200 square feet. Locations: One in Ft. Worth and one in South Dallas.

Market Competition and Expansion:

As to competition in this industry, wherever there is a coin laundry, there are generally more than one and sometimes several in the immediate area. Quality service and keeping the stores and FFE maintained is key. And vend pricing under the immediate market is a plus. Growth & Expansion: Seller believes that most of these laundries have the ability to garner significantly higher annual sales with the right astute full-time owner-operator at the helm who develops at least some sort of marketing plan, upgrades the equipment and improves the store appearance. The current owner has done NO MARKETING whatsoever – ergo, no yelp, no google, no website, no Instagram, no mailings, etc.

Reason for Selling:

Partial Retirement.

Additional Details:

Documents:

Relevant Links:

• View more Texas businesses for sale
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• Find a business broker