Coin-Operated Laundromat for Sale in Houston!

Houston, TX
Harris County


Asking Price: Annual Revenue:
$299,995 $260,250

Services: Dry Cleaning & Laundry


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RE: Coin-Operated Laundromat for Sale in Houston! Broker: Quoc Pham
Owner Financing is Available!

Quick Facts

Asking Price: $299,995
Annual Revenue: $260,250
Net Profit: Not Disclosed
Cash Flow: $68,417
Total Debt: Not Disclosed
FF&E: $250,000
Real Estate: Not Disclosed
Year Established: 2010
Employees: 5
BBN Listing #: 102544107
Broker Reference #: 76931-749153

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Business Overview:

Price has been reduced from $350,000.00 to $299,995.00!!

Due to the high amount of interest and the same questions being asked without answers, this listing was temporarily removed. Now, with more updates, the listing is back up.

This is a rare opportunity to purchase a coin-operated laundromat that was established over 10 years ago. There has been only one previous owner before this current owner. The landlord of this laundromat was the previous owner that built this business. The current owner bought this business in January of 2019 so has only owned if for about two years. He originally bought this business for his former wife because she wanted an easy to run business in a fairly safe area and this was the perfect business. They have since been divorced and this is a business that the current owner has zero interest in. He is liquidating all his businesses and is going to take some time off.

The laundromat itself is in great shape and so is all the equipment. The owner, with zero laundromat experience, has learned how to repair all equipment and generally repairs equipment right away when it
goes down. On a positive note, if you’re looking to be an absentee or semi-absentee owner, it is not urgent to fix equipment right away if you’re not flexible. This allows for some piece of mind for those who want to run this absentee or semi absentee. You can just put “an out of order” sign up until
you get to it. If you were to hire a mechanic, the mechanic this owner has used previously charges $35.00 an hour. There are multiple mechanics you can call if you did not want to do repairs yourself.

Currently, there are 2 employees that work at the business and with the 2 employees there is someone working at all times during business hours. The way that it is currently running, the owner does not need to be at the business at all. The owner’s main responsibility right now is to collect the coins and cash every 2 to 3 days. This role can be easily delegated. The other role of the owner is to repair equipment if and when they go down. Owner is willing to train and teach the new owner how to repair the equipment.

According to seller, most of the time, repairs are minor and easy to fix on your own to save cost.

Owner is providing training for two weeks as a part of this deal. He is more than happy to stay longer to train, at a negotiated pay.

This is a great opportunity for someone that wants to be a full time owner-operator or even for someone who is looking for an absentee or semi-absentee business. There is tremendous opportunity to grow this business and make it even more profitable!

LANDLORD and LEASE:
The current lease is for 8 years which ends January 2027 and there is two
five year options available. MOST IMPORTANT New Update: After several conversations with the landlord, he has mentioned that he is willing to work with a new buyer on the lease. Landlord has lowered rent to $7,500 currently for the current owner. Landlord said he will only have discussions on potential rent reductions with a buyer that has an accepted offer in place.

Seller is willing to finance up to 50% of the deal for a qualified buyer. With
these new updates, this business will sell quickly!

EBITDA is $68,417.52. This is with the owner being absentee or semi-absentee and also using revenue from the COVID months of 2020. Owner is not involved with the actual day to day operations. For a full time owner operator, you can take on a role in the business and add an extra $16,000.00-$20,000.00 back to the bottom line.

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:

Personal

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.

Relevant Links:

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