Seller's Contact Information
- RE: Coin Laundry & High Volume Check Cashing
- Contact: Moon Kim
- License #: 567204
Quick Facts
| Asking Price: | $429,000 | |
| Annual Revenue: | $576,114 | |
| Net Profit: | Not Disclosed | |
| Cash Flow: | $200,884 | |
| Total Debt: | Not Disclosed | |
| FF&E: | 275,000 | |
| Real Estate: | Not Disclosed | |
| Year Established: | 2007 | |
| Employees: | 6 | |
| BBN Listing #: | 285519188 | |
| Broker Reference #: | 001055 |
Business Overview:
Prime location large coin laundry with check cashing/money transfer in Dallas is available for acquisition. This business was originally established in 2007 over a decade ago and was later acquired by the current owner in 2020. Most of the customers are middle-class Hispanics that live in the surrounding densely populated residential neighborhoods and many blue-collar individuals that work around the area. Competition is expected for this business industry, but this business has a relatively large facility and very well maintained equipment compared to other competitors. Gross Income for the coin laundry business has been in the range of $180,000 - $200,000 and net commission income from the check-cashing and money transfer business have been around $80,000 - $90,000 per year, both of which have been consistently growing over the last few years until the Covid-19 breakout in March 2020. Retail soap sales, vending machines, various game machines, and other income bring an additional net income of $85,000 - $90,000 a year. Although this is a coin laundry business, proactive marketing tactics need to be in place for this business to fully utilize the operation to generate maximum income capacity while growing the customer base outside the local area. There are many ways to proactively market this business such as direct mailing, bundle services, tall signage, more retail items, and more owner involvement. A full-time owner-operator will be extremely beneficial for this business as it will cut payroll expenses on having unnecessary employees and boosting the quality of the customer service. 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.
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Property Features and Assets:
This business is located in a 4,000 Square Feet retail strip center in the epicenter of a highly populated residential area of Dallas and many retail businesses. All equipment is in impeccable condition and in working order. / Inventory: $2,000 (Included in listed price).
Market Competition and Expansion:
Competition: Few competitors are within the immediate market area, but this laundromat has built a very strong customer base over the past 13 years of operation by providing exceptional customer service along with very well-maintained equipment. Growth and Expansion: Proactive marketing is needed to generate more cash flow as well as a full-time owner-operator that can cut payroll expense.
Reason for Selling:
The owner of the business has too many businesses.
Additional Details:
- The property is Leased.
- The owner is willing to train/assist the new owner.
- This is not homebased business opportunity.
- This is not a franchise resale opportunity
Documents:
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