Established Coin Laundry & High Volume Check Cashing

Dallas, TX (Dallas County)

Established Coin Laundry & High Volume Check Cashing
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Asking Price: $550,000

Cash Flow: $205,187

Gross Revenue: $501,336

EBITDA: N/A

FF&E: $350,000

Inventory: $2,000

Established: 2007

Established Coin Laundry & High Volume Check Cashing

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Business Description

Prime location large coin laundry with check cashing in East Dallas is available for acquisition. This business was originally established in 2007 over a decade ago and was later acquired by the current owner of the business half a decade later in 2012. Most of the customers are middle-class Hispanics that live in the surrounding densely populated residential neighborhoods and many blue collar individuals that work around the area. Gross Income for the coin laundry business has been in the range of $270-280K per year and net commission income from the check cashing business has been around $165-175K per year, both of which have been consistently growing over the last several years of operation. Retail soap sales, vending machines, various arcade machines and other income brings an additional net income of $45-50K a year. Although this is a coin laundry business, proactive marketing tactics needs to be in place for this business to fully utilize the operation to generate maximum income capacity while growing the customer base outside the local area. Competition is expected for this business industry, but the only competitor within the area lacks in the size of their facility and has outdated machines that don’t work as well as this business. There are many ways to proactively market this business such as direct mailing, bundle services, tall signage, more retail items and more owner involvement. A full-time owner-operator will be extremely beneficial for this business as it will cut payroll expenses on having unnecessary employees and boosting the quality of the customer service. This business has everything in place for a potential buyer to proactively market this business while being fully involved in the day-to-day business operation.

Listing ID #000749
For more info, please call Moon Kim at 1-866-519-2421.

Detailed Information

Inventory:
Included in asking price
Employees:
6FT
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
This business is located in a 4,000 SF retail strip center in the epicenter of a highly populated residential area of Dallas and many retail businesses. All equipment is in impeccable condition and in working order.
Competition:
One competitor is within the immediate market area, but the competitor is much smaller compared to this business while providing very outdated machines.
Growth & Expansion:
Proactive marketing is needed to generate more cash flow as well as a full-time owner-operator that can cut payroll expense.
Financing:
100% down at the time of closing or 50% Cash Down with SBA Financing for Qualified Bu
Support & Training:
The owner of the business will provide the necessary training needed to smoothly transition into the business operation.
Reason for Selling:
Too many businesses to handle spreading himself too thin.
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V-AID Group, Inc.

Business Listed By:
V-AID Group, Inc.

www.v-aidgroup.com

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Memberships & Certifications:
Indicates membership in the International Business Brokers Association (IBBA). The IBBA is the only certifying organization for Business Brokers and Intermediaries who assists people in buying or selling a business. Indicates membership in the M&A Source. The M&A Source is comprised of highly trained Intermediaries who advise on the preparation, sale and/or purchase of middle market (~$2M+ in revenue) business opportunities. Certified Business Intermediary (CBI) is a professional certification awarded to Business Brokers and Intermediaries that have achieved stringent requirements. CBI's work by an ethical code of conduct when working with business owners and buyers. Merger and Acquisition Master Intermediary (M&AMI) is a professional certification awarded to Intermediaries who've achieve very stringent educational and professional requirements. M&AMI's agree to abide by an ethical code of conduct when working with business owners and buyers. The TABB Certified Business Broker certification distinguishes its holder as a seasoned professional who has a solid educational background, proven accomplishments in completing deals, and an active membership in the TABB.

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