29-Yr Established Coin Laundry

Not Disclosed, TX
Tarrant County

Fort Worth

Asking Price: Annual Revenue:
$725,000 $395,045

Services: Dry Cleaning & Laundry

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RE: 29-Yr Established Coin Laundry Broker: Moon Kim

Quick Facts

Asking Price: $725,000
Annual Revenue: $395,045
Net Profit: Not Disclosed
Cash Flow: $175,725
Total Debt: Not Disclosed
FF&E: $350,000
Real Estate: Not Disclosed
Year Established: 1992
Employees: 3
BBN Listing #: 275519188
Broker Reference #: 001062

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Business Overview:

Nearly 30-Year established high volume coin laundry in Tarrant County is now available for acquisition. This laundromat is occupied in a 4,400 Square Feet space of a retail strip center surrounded by a densely populated residential area. There are a shopping mall center and major highway near the business, thereby generating continuous heavy traffic. This business was originally established in 1992, almost three decades ago, and it was later acquired by the current owner in 2012. Right after the current owner's acquisition, the facility was completely renovated, and a majority of the equipment, including the washer and dryer, was replaced with brand new. Most of the customers are middle-class Asian and Hispanic individuals that live in the surrounding densely populated residential neighborhoods. There are several competitors within the immediate market area. Still, this business has been well-positioned in the market over the last 29 years, and no new competitor has entered the market over the previous few years. Also, due to the equipment and facility upgrade in 2012, the business has continued to grow, acquiring new customers and receiving good reviews from the local community. This business generates an average of $33,000 a month purely from washer and dryer in this current pandemic time compared to over $40k a month before COVID-19. Once the pandemic stabilizes, it is highly expected to see a rapid recovery to its pre-pandemic level as this area used to be in much higher demand for self-serving coin laundry. Although no marketing is in place for this business, the new owner can utilize proactive marketing to attract new customers. This well-established coin laundry is ready for a potential buyer to actively involve in the business operation while marketing to grow the business to reach its maximum potential.

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Property Features and Assets:

This business is located in a 4,400 Square Feet space of a retail strip center surrounded by many retail businesses and densely populated residential neighborhoods. All equipment is in impeccable condition and in great working order. / Inventory: $1,000 (Included in listed price).

Market Competition and Expansion:

Competition: There are several competitors in the immediate market area, but this business has been well established in the market for the past 29 years, and no new competitors came into the market in the previous few years. Growth and Expansion: Minimal marketing is in place, and proactive marketing methods are needed to fully utilize to achieve maximum income potential.

Reason for Selling:

Preparing for retirement.

Additional Details:

  • The property is leased.
  • The owner is 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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