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Coin Laundry With Check Cashing
Location Texas,United States
Asking Price Range $500K - $1.0M
Gross Revenues $360000
Net Profit / Cash Flow $168000
Cash Flow Type Sellers Discretionary Cash
Seller Finance No
Year Established 2007
Number of Employees 6 - 9
Relocatable No
Number of Employees 6 - 9
Real Estate Leased
Training Seller will train new owner in all aspects of the business for a smooth transition.
Reason for Sale Too many businesses to handle spreading himself too thin.
Description Coin laundry with check cashing located in E. Dallas is now available for an acquisition. Equipped with top of line laundry washers and dryers that were newly installed just 5 years ago, coin laundry generates around $240,000 per year in revenues, and check cashing business generates around $120,000 per year in net commission. Other income sources of this laundromat are vending, sales of soaps, and games which generate around $2,500 in additional revenues. Check cashing business offers check cashing service, money orders, bill payment, money transfer, pre-paid calling cards, and fax/copy services. Located in the hub of an area with high Hispanic population, Hispanic customers account for over 50% of total customers.
Current owner's involvement in this business is very minimal to none due to other businesses owned and operated by the owner. More owner's involvement in the business is highly recommended in order to streamline the operation and labor to increase revenues and profit. A tall pylon signage as well as two gigantic outside signage for both coin laundry and check cashing makes this business highly visible. This is a great opportunity to acquire a unique coin laundry that also has check cashing business inside the laundromat.
Asking: $550,000
Furniture, Fixtures & Equipment: $400,000 (Included in listed price)
Inventory: $2,000 (Included in listed price)
Financing: 100% cash at Closing.
Facilities: Top of line equipment which is than 5 years old. All equipment was immaculately maintained. Occupied in a 4,000 SF of retail strip center located in a busy intersection.
Competition: One direct competitor is found but it is much smaller with very old equipment.
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