Absentee Coin Laundry in Houston

Houston, TX
Harris County

Asking Price: Annual Revenue:
$145,000 $118,416

Services: Dry Cleaning & Laundry

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RE: Absentee Coin Laundry in Houston Broker: Quoc Pham

Quick Facts

Asking Price: $145,000
Annual Revenue: $118,416
Net Profit: Not Disclosed
Cash Flow: $27,939
Total Debt: Not Disclosed
FF&E: $70,000
Real Estate: Not Disclosed
Year Established: Not Disclosed
Employees: 2
BBN Listing #: 831844107
Broker Reference #: 76931-602739

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Business Overview:

Excellent opportunity for a new Buyer to acquire an absentee coin-laundromat business. This laundromat has been established for over 25 years. The current owners bought this business in January of 2020 as one of their multiple investments. Due to Covid, the owners are currently residing outside of US and therefore, wish to sell.

This laundromat is 2,000 square feet and is fully equipped with 20 washers and 26 dryers. Revenues average about $10,000 a month with approximately $900 coming from detergent sales and another $400 from wash and fold services. If a new buyer wishes to continue to run this business absentee, the buyer can expect an EBITDA of roughly $25,000 annually. For a full-time owner-operator, seller's discretionary earnings can be upwards of $40,000. While business is profitable, ample opportunity exists to grow this operation with investments in social media marketing, expansions of services such as offering pickup and delivery services and additional promotions to grow the wash and fold business. Additional opportunities include adding games and vending machines to increase new revenue streams, however, the biggest opportunity is more efficient management of the whole operations.

This business is located near many residential houses, neighborhoods, and apartments with extraordinarily little competition nearby. If you are looking for an absentee business to create some passive income, this is a great opportunity for you!

IMPORTANT NOTE: Please understand this is an all-cash business. If you are looking for a business with detailed financial statements or tax returns, this may not be the business for you. This listing has no previous tax returns for review. Broker is prepared to discuss what is available for due diligence. Lastly, seller is seeking an all-cash offer and is not offering seller financing.

**Due to the situation where the sellers heavily rely on the employees to continue to operate this business while they are out of the country. Every prospect who would like the address to this location will need to fill out a confidentiality agreement and a buyer profile. It is extremely important not to alert the employees in any way, that this business is up for sale.

Washateria’s like this sell very quickly, so this deal will not last long. Please call the listing broker (Quoc Pham) if you are a qualified and interested party. Please leave a voicemail if unanswered.

To request more information regarding this listing, simply check the ADD TO REQUEST INFO BASKET button and when you are done searching and have made all your selections, simply click on the REQUEST INFO button at the bottom of the page.

Reason for Selling:

Travel Restrictions-COVID.

Additional Details:

  • The property is leased.
  • The owner is not willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

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