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Dec 17, 2019 — High-end coin laundry placed in upper-class neighborhoods is now available for acquisition. This business was originally established in 2016 by the current owner of the business that has built the business from scratch. This business occupies a 4,800 SF space of retail strip center with the top-of-the-line equipment and a great facility is located nearby the main highway of the city with consistently heavy traffic as well as densely populated neighborhoods filled with high-income individuals. Most of the customers are upper-class individuals with large amounts of disposable incomes from surrounding upscale residential neighborhoods, and consist of a well mix of different ethnic groups. Competition can be expected for this business industry, there is no single competitor in the immediate market area which allows this business to dominate the area. Various services are provided at this coin laundry that can range from wash & dry, soaps, vending machine and bundle service. Gross sales of this coin laundry show consistent growth for the last several years running at around $400,000 per year without any marketing except thru their website and word of mouth. Although no marketing is in place other than its website, various marketing tactics need to be utilized, such as more online and social media outlet presence, direct mailing, bundle deals, loyalty cards, door hangers, game machine, rent out vacant rooms etc. to acquire new customers in the untapped parts of the area. Since this business has ran as an owner absentee, having a full-time owner operator will be the best way for this business to increase cash flow as the business will spend less on payroll expenses, managing and maintaining the quality of the customer relations. This business has done very well with its ground works, poised for next level growth. A potential buyer should be able to realize the growth by getting more involved in the day-to-day business operation and conducting pro-active marketing. This is a great opportunity to acquire a well-established high-end coin laundry with top-of-the-line facility for the potential buyer who is willing to be more hands-on in the day to day operation and marketing to reach out to untapped areas of the city.
Furniture, Fixtures & Equipment: $800,000 (Included in listed price)
Inventory: $500 (Included in listed price)
Financing: 100% down at the time of closing or 20% Cash Down with SBA Financing for Qualified Buyers with Industry Experience.
Year Established: 2016
Facilities: The business is located in a 4,800 SF space of a retail strip center surrounded by many high-end residential neighborhoods and is next to a major highway.
Support/Training: Owner will provide a sufficient training for an agreed upon period to make the transition into the business as seamless as possible.
Reason Selling: Other opportunities
Competition: This business has no competitor within the immediate market area.
Growth And Expansion: There is currently no marketing done to proactively grow the business.