Three Two houston laundromats for sale
Pasadena & I-10 / Federal
Why are we selling?
These laundromats are excellent businesses, but it’s a distraction from our other companies.
We are selling for less than what we invested (purchase + renovations). This creates an excellent opportunity for buyers.
For more information about the Seller visit our website or view this video.
Pre-Approved for Financing
If you need to use financing for this purchase, we have already obtained pre-approval from a reputable bank that knows the industry. It’s called Eastern Funding. They know both of our locations and understand how solid the long-term financials & demographics are for these stores.
This document walks you through the process for obtaining funding — as well as evaluating the laundromat. It includes:
A checklist of items you’ll need to finance your laundromat business
Credit application and personal finance statement
Cash flow template for the laundromat
How to value a laundromat
If you need to learn how to value a laundromat, we have provided some educational materials here. In general, you pay between 3-6x cashflow, depending on the condition of the store. Our stores are recently renovated, so they are priced at 5x cashflow. That’s a 20% annual ROI for you. Remember, you also get a tax write-off. So the first year ROI is around 50% total (tax write-off + ROI).
growth opportunities
There are several ways to grow this business — and we’ve already put most of them in-place over the past six months (games, soaps, marketing, etc). But there are some additional opportunities that we want to highlight — specifically getting commercial customers like restaurants, gyms, hotels, uniform companies, etc.
These are large laundromats, so you can take on a significant number of commercial customers.
This could easily double or triple the profitability of each laundromat. It simply takes focus & work — and that is something we haven’t been able to focus on.
Location 1: I-10 & Federal
$1.3M Price $895K (31% price drop)
discounted price & Loan pre-approval
We invested $1.4M renovating this store. It has been pre-approved for a loan by a reputable lender that knows the industry & this location.
large store & New Machines
This store is 6,000 sq. ft with 52 washers & 58 dryers — most are new. There’s also new bill changers, vending machines, massage chairs & gaming machines.
cashflow: $20K/month & Going Up
Profits at this store are solid & increasing. It is surrounded by apartments & loyal customers. We recently increased prices & made some changes to the game room that is increasing the profit.
excellent staff & parking
The employees & parking at this store are excellent. The workers have been with us for over 5 years & are extremely trustworthy. The parking lot is huge, so never a problem.
renovated in 2021
In 2021 we completely renovated the store. New machines, electrical, floors, counter, soap display, bathrooms, etc. We also built a large game room to grow that business.
7 year lease with renewal
There is only seven years remaining on this lease, but we’ve spoken to the owner & will be able to renew. They want laudromats because it drives foot traffic.
Location 2: Pasadena
$1M Price $695K (31% price drop)
discounted price & Loan pre-approval
We invested $1.5M in this store (original purchase + renovation). So we’re selling it at a huge discount. It has been pre-approved for a loan by a reputable lender that knows the industry & this location.
giant location
This store is one of the largest in Houston with over 8,000 sq. ft & 88 washers & 78 dryers. There new machines, bill changers, vending, massage chairs & gaming.
CASHflow: $14K/month & Going Up
This store lost customers in 2020/21 when we weren’t paying attention to it. We renovated in 2022 & have been running Google Ads. We have seen profits restored but there is still upside potential.
excellent staff & parking
The employees & parking at this store are excellent. The workers have been with us for over 15 years & are extremely trustworthy. The parking lot is huge.
renovated in 2022
In 2022 we completely renovated the store. New machines, floors, counters, soap displays, bathrooms, etc. We also built a game room to grow that business.
20 year lease
We signed a new long-term lease when we bought the business. The landlord is excellent & located on-premises. They are actually interested in buying this store.
FAQs
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Laundromats are an EXCELLENT investment. The first year ROI is 50%+ with ongoing 15-20% annual returns.
This is much better than the stock market or real estate.
Because this is an asset/equipment based business — 100% of the purchase price can be depreciated in Year 1 (for comparison, real estate depreciates over 27 years). This provides a 35% ROI in Year 1 on its own. Plus an expected 15-20% cashflow.
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Because it’s all machines. Equipment can be 100% depreciated in Year 1. This is the hidden reason why laundromats are such a great investment.
This was the primary reason we purchased these laundromats. However, it is distracting us from our primary business which is much bigger. If we didn’t have the other business we wouldn’t sell.
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Yes. Both locations have been pre-approved by a reputable bank that knows the laundromat industry. We will connect you if needed. Interest rates are Prime 2%. Currently that’s about 9%.
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Yes. These locations have been around for 20+ years. That’s part of the reason we originally purchased. We didn’t want to take the risk of starting a new store.
The demographics around these stores are excellent. With our new renovations & machines you should be set for many years.
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These businesses are not fully passive. We have an excellent Manager in-place, but it still take about 2-5 hours per week. You will need to pick-up & deposit the cash & make decisions if machines break.
We own several businesses, and we’ve learned that no business is totally passive. You will have to do some work. If you want totally passive, invest in the stock market.
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It all begins with an idea. Maybe you want to launch a business. Maybe you want to turn a hobby into something more. Or maybe you have a creative project to share with the world. Whatever it is, the way you tell your story online can make all the difference.
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We’ve only had one break-in in 4 years of owning the business & they didn't get any money. We had to fix two door, so the total cost was less than $500.
There are mostly women & children in a laundromat. Sometimes men are there washing their work clothes. But it’s a calm non-violent environment. Just don’t leave too much cash laying around.