Exceptional Opportunity: Turnkey Laundromat

Business Overview:

TRANSWORLD BUSINESS ADVISORS OF HOUSTON. LISTING REF # 76931-953903

Available for acquisition is a well-established and profitable laundromat, a local favorite for over 20 years. Re-launched in 2016 with modern updates, this laundromat boasts brand-new washers, dryers, and state-of-the-art infrastructure.

The facility spans 4,050 sq. ft. and operates 24/7, featuring 47 Washers and 56 Dryers, all kept in pristine condition through daily cleaning and regular maintenance. Additionally, there are two vending machines offering laundry products, snacks, and soft drinks.

This laundromat presents an excellent opportunity for both full-time owner-operators and those interested in absentee or semi-absentee investment. Growth potential is significant, with opportunities to expand Wash-and-Fold services, introduce entertainment options, and enhance local and social media marketing efforts.

In 2023, the business shows an net income (EBITDA) of $145,159 annually for absentee ownership and an estimated $174,279.32 in seller’s discretionary earnings (SDE) for a part-time owner-operator. With the launch of Wash-fold services in June 2024, annualized net income (EBITDA) is projected at $163,294.63 annually for absentee ownership and an estimated $192,414.63 in seller’s discretionary earnings (SDE) for a part-time owner-operator.

With strategic business optimization and growth initiatives (which will be discussed with the new owners), the The Pro-Forma EBITDA can potentially scale up between $240,000 and $250,000 for an experienced owner-operator. A down payment of 15% to 20% may make you eligible for SBA and/ or Bank financing. (This is pre-qualified for SBA financing)

Don’t miss out on this chance to own an established and thriving laundromat with significant growth and profitability potential!!

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Property Features and Assets:

Monthly Rent: $9,217.62

Square Units (Foot, Meter): 4,050

Lease Expiration Date: December 30, 2029, 10:00:00 PM

Terms Options: Assignable lease to the new owners. Landlord is willing to assign 2 ; 5-year terms to the new owners (required negotiations)

Facilities:Located in a retail Strip-center with ample parking space and diverse demand drivers in an established neighborhood

FF&E Overview: FURNITURES, FIXTURES & EQUIPMENT
2 - Huebsch F/L, 80Ib Washer, G600 Water Saving Controls, Coin Drop, Multi-Level and Time of Day Pricing, 208-240v1/3phase 100 Force

5 - Huebsch F/L 60Ib Washer, G600 Water Saving Controls, Coin Drop, Multi-Level and Time of Day Pricing,208-240v,1/3phase, 100G Force

10 - Huebsch F/L 40Ib Washer, G600 Water Saving Controls, Coin Drop,
Multi-Level and Time of Day Pricing, 208-240v1/3phase, 100 G Force

10 - Huebsch F/L 301b Washer, G600 Water Saving Controls, Coin Drop, Multi-Level and Time of Day Pricing, 208-240V 1/3 Phase, 100 G Force

20 - Huebsch F/L 20Ib Washer, G600 Water Saving Controls, Coin Drop, Multi-Level and Time of Day Pricing, 208-240v 1/3phase, 100 G Force

10 - Huebsch Stack Dryer, 45Ib X 2, coin, Stainless Front

17 - Huebsch Stack Dryer, 301b x 2, coin, Stainless Front

2- Huebsch Dryer, 75Lb, coin drop, Stainless Front

5- Huebsch 60Ib base 6in.

10 - Huebsch 40Ib base 6 in.

10 - Huebsch 30 lb. base 6 in.

20 - Huebsch 20lb base

2- Rheem High Efficiency Water Heater, $199,000/100 Gallons.

10 - Caco Folding Table, 30" X 60", tubular Iegs, fiberglass

4 - Caco 4 Chair Seating ,black tubular legs

47 - ESD Coin box, 8 in.

56 - ESD TALL Coin Box, 8 in. XD Key

2- Standard Changer, 2 acceptors 2 HOPPERS $4,500 capacity

15 - R&B Laundry Carts

2 - Vending Machines

1 - POS system with Check in counter

1 - Digital Weigh Scale

6 - Ceiling Fans

4 - Televisions

1- Illuminated Business sign

FF&E General Condition: Good working condition and well maintained

Market Competition and Expansion:

Competition: 

The laundromat market in Houston is anticipated to grow at an annual rate of 4-5%. This growth is driven by:

- An expanding working-class population
- A decrease in homeownership
- Lower disposable household income
- Rising demand and advancements in laundromat technology

Additionally, wash-and-fold pick-up and delivery services, as well as drop-off options, are increasingly popular among busy professionals and dual-income families. This segment is projected to grow 7-8% annually in the coming years.

Within a 7-miles radius of this laundromat, there are several other laundromat facilities, highlighting a high demand for laundry services in the area. Notably, 3 out of 5 laundromat owners have heavily invested in modernizing their operations with efficient washers and dryers to leverage the growing wash-and-fold trend.

This laundromat is ideally located in a bustling neighborhood, anchored by a popular grocery store and other retail businesses that drive significant foot traffic. The surrounding 2.5 to 3-mile radius is densely populated with single-family homes and apartment complexes, ensuring robust and consistent demand for laundry services.

Expansion: 

This well-established laundromat operates 24/7 and is currently managed by experienced long-term employees while the absentee owner, who oversees multiple laundromats and other retail businesses, focuses on maintenance and coin collections.

This presents a great opportunity for either a part-time or full-time owner-operator, as well as for those seeking an absentee or semi-absentee investment. The business has substantial growth potential with several revenue-enhancing opportunities.

- Starting in the second half of 2024, high-margin wash-and-fold services are introduced, providing an additional profitable revenue stream and further enhancing the laundromat’s financial performance.
- Furthermore, increasing promotion and partnerships for wash-and-fold services could boost revenue by 15-20%,
- The spacious facility allows for the addition of dry-cleaning drop-off/pick-up services.
- Adjusting machine pricing could improve operating profits by 3-5% additionally.
- Adjusting the current 24/7 operating hours to a more streamlined schedule could result in significant savings on labor and overhead costs.

In 2023, the business shows an net-income (EBITDA) of $145,159 annually for absentee ownership and an estimated $174,279.32 in seller’s discretionary earnings (SDE) for a part-time owner-operator. With launch of Wash-fold services in June 2024, annualized net-income (EBITDA) is projected at $163,294.63 annually for an absentee ownership and an estimated $192,414.63 in seller’s discretionary earnings (SDE) for a part-time owner-operator.

With strategic business optimization and growth initiatives (which will be discussed with the new owners), the Pro-Forma EBITDA can potentially scale up between $240,000 to $250,000 for an experienced owner-operator.

Reason for Selling:

Additional Details:

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