7/23/2023 0 Comments Buying a laundry matGood ROI – laundry industry has a 20-35% ROI and nearly a 95% success rate, according to Speed Queen (eek, not sure on 95% but maybe directionally).Recession resistant – people always need clean clothes.Upfront cash – customers pay upfront, makes accounting and tracking easier.Little labor – means training, onboarding, and labor are relatively minimal.Simple – customers do the majority of the work washing and drying their clothes.Hopefully, you’re starting to see laundromats in a different light, so without further ado, here’s my list of the top reasons that we love buying laundromats: ![]() Not only that, but Michael was able to make it happen by only putting up $35k of his own money into his laundromat deal. He’s built a $750k+ business (with $250k in profit, might I add), just by acquiring a few of these sudsy and savvy laundromats. If you’re not sure if you’re ready to take the leap and buy your first laundromat, let me introduce you to my friend, Michael Nerby. What could possibly be sexy about hundreds of thousands of pounds of dirty laundry, circling through their rinse cycle, that’s paid for in coins, when you hardly even carry cash anymore? Glad you asked, my friend. – Finance Rest w/ Equipment loans First, Why are we Buying a Laundromat? – Use $100k in seller financing (using future sales to pay off owner) Just another funky business idea for non-correlated cash flow. Here’s a breakdown of a deal my agent will run that we may buy. Does it provide industrial laundry machines? What kind of reputation does it have? Does it offer financing options? What about environmentally-friendly options for reduced energy consumption and operating expenses? Ask us at AAdvantage Laundry Systems to find out.Ya baby… buying a coin-operated laundromat, that’s what we’re talking about. When it’s time to look around for purchasing a laundromat machine, choose a distributor that has been in the business for years. Assess the potential pros and cons and work out if the terms align with your budget or not. Go over the terms and conditions before you choose any equipment. However, leasing equipment will also work if you’re trying out several models. Should You Buy or Lease Equipment?īuying equipment is ideal if you’ve got the budget. You’ll need to factor that into your buying decision, too. Also, some other laundromats lease their equipment. ![]() Shop for better commercial laundry equipment to get customers to your door. If yours is too outdated, that could turn prospective customers off. ![]() Your laundromat equipment plays an important role in whether you get customers or not. Are there any machines with credit card payment capabilities? What equipment will you need to run the business? Are the Machines Up-to-Date? When was the Facility Last Updated?ĭon’t buy a laundromat without checking the equipment and shop to see if it’s been upgraded to recent laundry technology. If there’s too much competition in the area, that will make it harder for you to turn a profit. Check out your competition, too, before you make a move to buy the business. Sites with a high concentration of residents or renters will provide your laundry facilities with a steady stream of customers. Pick a business in populated urban areas for continuous foot traffic.
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