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Well-established coin laundry with top-of-the-line machines placed in a densely populated residential area in Northeast Dallas is available for acquisition. This laundry is occupied in a 2,900 SF space of a retail strip center surrounded by a densely populated residential area. This business was originally established over two decades ago in 2000 by the previous owner and was later acquired by the current owner in 2019. After the current owner's acquisition, the facility has been fully renovated by the current owner, and a majority of the equipment, including the washer and dryer, was replaced as brand new. A partial space of the facility is a bulletproof check cashing kiosk which is currently being sub-leased to a check-cashing business that brings some extra rental income and a steady flow of customers by offering check cashing, money transfer, and other financial services. Most of the customers are Hispanic individuals that live in the densely populated residential neighborhoods with a high population count. Competition is expected for this large industry, but the demand in the area is plenty enough that competitors and this business have an overflow of customers who always need its services daily or weekly. This business is also very competitive due to its top-of-the-line equipment and one of the cleanest facilities in the immediate market area. The gross sales average of this laundromat is around $21K-22K per month (Washer & Dryer, Video Game, Rental Income, and Others) that has been rapidly growing since the current owner's acquisition due to equipment and facility upgrades, but the growth would have been much steeper without covid-19. Although no marketing is in place for this business, other proactive marketing methods can be utilized to attract new customers from the growing population and provide a better experience to the current loyal customer base. There are many ways to proactively market this business, such as direct mailing, loyalty programs, social media outlets, and bundle service. Currently, this business's retail sales and vending services are running by one of the attendants, and all revenue goes to the attendant. A new owner can take it back from the attendant if desired, which brings more profits to the new owner. Also, a reconsideration of pricing can be made to generate more profit as current pricing is lower than the market average. 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 maximum income capacity.
This business is located in a 2,900 SF retail strip center surrounded by many retail businesses and densely populated residential neighborhoods. All equipment is in impeccable condition and in working order.
Minimal marketing is in place, and proactive marketing methods are needed to fully utilize to achieve maximum income potential.
Few competitors are within the immediate market area, but this coin laundry provides brand new machines while offering a competitive price point to attract customers from all around the area.
The owner will provide sufficient training for an agreed-upon period to make the transition into the business as seamless as possible.
$160K cash down at Closing and $240K assumable loan or 50% Cash Down with SBA Financing for Qualified Buyers with Industry Experience.
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