8 Store Coin Laundries/Laundromats DFW Area

Dallas, TX
Dallas County

DFW AREA


Asking Price: Annual Revenue:
$745,000 $713,789

Services: Dry Cleaning & Laundry


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RE: 8 Store Coin Laundries/Laundromats DFW Area Broker: Erin Bonner

Quick Facts

Asking Price: $745,000
Annual Revenue: $713,789
Net Profit: Not Disclosed
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: $745,000
Real Estate: Not Disclosed
Year Established: Not Disclosed
Employees: 11
BBN Listing #: 78886076
Broker Reference #: EB1207

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Business Overview:

This is an opportunity to purchase a chain of eight (8) coin-operated laundries located throughout Dallas-Ft. Worth with significant upside. Includes Dallas, Garland, North Richland Hills, Ft. Worth, Duncanville, Lancaster, and Plano.

The current owner purchased about 6 years ago and underwent some tough personal issues for a full 3 years recently that hindered his ability to fully concentrate on keeping the laundries maintained as they should be. When a laundry has too many machines down before the weekend, it slows business.

In 2015, prior to his personal issues, the 8 stores grossed $1,040,000.

The Seller only works about 20-30 hours per week, when for this many laundries, one should be working the business full time – at least 40-50 hours per week as most owner operators of small businesses work. This is NOT a part-time or absentee business.

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 attendants for extraordinary hours for laundries that don’t offer bundle service. There are 2 or 3 of the stores which could be very conducive to offering bundle service, especially for blankets, comforters, small rugs, large loads, etc. New ownership could also solicit commercial business in the area.

8 locations have been open from 7-30 years. 11 employees

Financial information herein is based on year end 2019. Estimate of FFE FMV above is a discounted estimate by about half from bank ordered equipment valuation 6 yrs. ago which came in at $1.6mm.

As the owner wishes to transition successfully, he will train for 30 days and be available for phone consult after that.

This business is marketed to be sold via an asset transaction vehicle versus a securities vehicle. …This listing constitutes neither a solicitation to buy nor an offer to sell securities
.
Listing Broker Firm: Erin Bonner, independent Transaction Consultant & Business Broker Call or email Erin for the NDA.

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Property Features and Assets:

Monthly rent & square footage varies by location

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 POTENTIAL & EXPANSION - Seller believes that most of these laundries have the ability to rebound to prior higher annual sales with the right astute full-time owner-operator at the helm who develops at least some sort of marketing plan. 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:

  • 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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