Are you hoping to become a laundromat owner this year? If so, you might be wondering how to determine the value of an existing laundromat. Sometimes, rather than build a new one from the ground up, it's beneficial to purchase one that's currently operating and on the market. Below, you'll find tips that can help you determine the value! Searching for Speed Queen dealers in North Carolina? Call T & L!
Work with a laundromat owner to find information about the following factors:
- Access to the business checking account and checkbook will give you an idea of how much they spent in the last 1 to 2 years.
- A copy of the lease. This will give you information on what you’ll be walking into as far as the contract is concerned. It will also help you understand how much the rent payment will be and how long you might have to sign a lease agreement for.
- Utility bills from the last two years. It’s important to know how much water bills, power, and other utilities will cost you over the course of a year's time. Having a second year will help you compare the two to see if there are any discrepancies or odd charges.
- A copy of the receipt book for the last year.
After you have taken all of these things into account, you should be able to get a better idea of the value of this laundromat. Be sure to talk honestly with the owner about profitability, revenue, utility bills, expenses and more. If the owner is not forthcoming, it may not be worth your time to further investigate whether or not this laundromat is a good investment for you.
The Most Reliable Speed Queen Dealers in North Carolina
T & L has been in operation for 40 years. Within that time, we've worked hard to offer the best coin operated washers and dryers in North Carolina at the best prices. We believe in our products and are excited to share them with you. The benefits you’ll gain from trusting our commercial washers and dryers are incomparable. Call T & L Laundry Equipment if you're searching for affordable Speed Queen dealers in North Carolina.
The benefits you’ll gain from trusting our washers and dryers are incomparable. Our commercial laundromat equipment offers the following advantages:
- Easy to install and use
- Saves washing and drying time
- Saves money
- Saves energy
- Easy to clean
- Comes in a variety of sizes and capacities
We serve industries such as healthcare, hospitality, correctional facilities, fire departments, fitness centers, hair salons and food service as well as laundromat owners. Call T & L Laundry Equipment today.
Visit the following posts in this series to learn more about how to determine the value of an existing laundromat: