Welcome back! We are here to talk more about the facts you should consider when purchasing a laundromat! If you missed our previous blog, be sure to visit back here for more information! If you're searching for Speed Queen dealers in South Carolina that you can trust, trust in calling T & L Laundry Equipment. We have a great reputation. Let us prove it to you!
- Be sure to take your time when reviewing the utility bills from the seller. It’s also important to make sure you take a look at bills going back at least two years. If it will make you feel more comfortable, it’s okay to go back another couple of years to see if there’s a big difference in numbers for any reason. Most of the time utility bills, especially water, can account for 5 to 15% of the actual cost of ownership.
- Don’t take the seller's word for it when they tell you that the utility bills can verify income. Sometimes, expenses are only suggested. There’s no way to guarantee what the actual income will be based on utility bills.
- You can, however, get a good idea of what revenue might be by taking a look at the water bills paid over the last year. While this is not a guarantee, it can help you get a sense of what to expect in terms of revenue. Then, at the very least, you’ll know if it’s even worth your while to continue pursuing this business.
- Review income tax forms before making any decisions. This can help you find out a lot about the business.
- Be sure to take a look at the books and records. Sometimes you'll be able to find more information there, especially when it comes to income.
We hope this information helps you when considering whether or not you're interested in purchasing an existing laundromat. Sometimes, after considering the facts, you might feel like opening a brand new location and starting from scratch is the best option. If so, T & L can help!
Reliable Speed Queen Dealers in South Carolina for 2018
T & L is proud to be one of the top Speed Queen dealers in South Carolina. We can offer you a direct line to great products, parts and services for machines, the ability to finance equipment, and partner with us to ensure your company is successful. We will work with you, every step of the way during your startup process. From choosing to start a business that needs commercial laundry equipment to picking a location, analyzing demographics and obtaining financing, getting the machines in and having your facility up and running as quickly as possible, you can count on T & L.
Opening a laundromat is more than just buying washers and dryers. It’s more than putting them in a building and hanging an “open” sign up. There are costs, competitors, and pitfalls. Because of this, those choosing to open a new business deserve to work with the best.
T & L takes the time to seek what's best for our customers. That means finding a longer warranty for machines, going above and beyond in helping out with troubleshooting, repairing and even researching problems that need a fix. We work to save consumers time, effort, and money. Our hands-on approach allows us to not only provide a turnkey laundromat but to also help install, maintain, repair and learn to use the equipment. If you’re ready to start a new venture opening a laundromat, contact us.
