How does it work to buy a laundromat?

Financing is Self-Supported – The monthly payments for the purchase loan are paid by the business itself. 7. Significant Cash Out Value – Due to the rapid building of equity in the business, in just a few years the business will be owned free and clear and can be sold for a very nice sum. 8.

Is the laundromat a necessity or a necessity?

It’s an “Essential” business – People have to do laundry, no matter what the economy is doing. (In fact, during the COVID-19 quarantine, our laundromats remained open while other small businesses had to close. Laundry is a necessity!) We decided up front that we were comfortable investing no more than $50,000 into a business venture.

How to calculate the value of a target laundromat?

We also include calculators like the one you see above so you can know the value of a target laundromat, calculate gross/net income, perform due diligence, etc.) Alright, let’s get back to the numbers again…

Why did we want to own a laundromat?

We wanted to own a laundromat. [Spoiler alert: Our first store did so well, we bought a second one! If you want to follow exactly what we did, check out our how-to guide HERE.] Here’s why we were so intrigued… 1. Cash Flow – Even a small location can earn several thousand dollars profit each month. 2.

How much money do you need to open a laundromat?

(In fact, during the COVID-19 quarantine, our laundromats remained open while other small businesses had to close. Laundry is a necessity!) We decided up front that we were comfortable investing no more than $50,000 into a business venture. So we started looking around at laundromats for sale.

What’s the price of an unattended laundromat?

And we couldn’t believe the coincidence. The unattended laundromat in our neighborhood shopping center was up for sale. And they had just lowered the price from $150,000. The new list price was $129,500. (Hmmm…a motivated seller?)