Question about Laundromat Businesses

searcher profile

June 02, 2021

by a searcher in South San Jose, San Jose, CA, USA

Hello Everyone,

I wanted to chat with someone that owns a Laundromat.

I am currently looking at submitting an L.O.I to a few that I have found, but had a few questions to ask before I do.

Also, what is the best way to finance.

Please feel free to message me.

Sincerely,

Aaron G.

2
24
308
Replies
24
commentor profile
Reply by an investor
in Brisbane QLD, Australia
I have never bought a laundromat, but I have looked at them before. Here are some thoughts.

- Does the business own the property? If it does, you might be able to raise money against that. - Does the business own the machines outright If it does you should be able to get a loan against that. - Does it qualify for an SBA loan. - Is the seller open to creative financing, for example, an earn-in. - If you are looking at a few, maybe you should consider a rollup. You might be able to do that inexpensively with options.

Hope that helps.
commentor profile
Reply by a searcher
from Warner Pacific College in Spokane, WA, USA
hey Aaron, I recently started talking to business owners in my local area to build up relationships in the laundromat space here in Eastern Washington state. I'm very new to buying businesses and the laundromat spaces as well however I'm planning to add some value through my experience as a programmer (10 years) and interests in sustainability + permaculture design. I'd love to follow your story and learn from your experiences as well.
commentor profile
+22 more replies.
Join the discussion