Purchasing an existing laundromat, whether you already own one, or this is your first such venture into the laundromat business can be a challenge for just about anyone. First of all, the coin or card laundry (laundromat) business is generally an all cash business. Being able to determine, during your due diligence period, exactly what the store is earning as well as its actual expenses can be a daunting task to the untrained and inexperienced buyer. As a buyer, you need to understand the terms and conditions of your lease, all the income sources, as well as the sources of all the expenses. You also need to understand the competition in your area, why the store is for sale, the age and condition of the equipment, as well as how to perform a successful audit of the business.
There are many considerations that must be taken into account prior to making an offer and going through the whole purchasing process. Our consultants at ADL Consulting Services have helped hundreds of clients make very important decisions and determinations through the entire process of purchasing an existing laundromat. If done correctly it can be a very wise, happy and rewarding experience. Give us the opportunity to help you make this an enjoyable and profitable business venture.