There are many factors that figure in the price of a Laundromat for sale. One has to take into consideration the factors mentioned on Before You Buy a Laundromat and above all look at the revenue and income statements.
The ROI (Return On Equity) rate will vary depending on the age of the equipment, long term potential, lease terms, general store conditions. But you will usually find newer Laundromats asking for higher multiples of yearly income than older operation. Ranges of multiples can go from 4 times annual income to 6 times annual income but each case is unique and thus different factor should be considered. The best way to do an appraisal is to have a broker do it for you in addition to hiring an independent auditor who understand the industry. A broker who is selling you a Laundromat will always paint a favorable picture to the seller's interest as he wants that 10% commission. An independent auditor on the other hand gets paid a one time fee to give you an unbiased assessment of the business. If you are actively looking for a Laundromat and need Appraisal services feel free to contact me at vclinla at gmail do com so I can recommend someone local to you.
I think there is nothing in the world I enjoy more than hanging out at the local 24 hr laundromat in CA. I would be ecstatic if I owned one and could live in it.
ReplyDeleteWith the shortage of time to wash clothes and maid, nowadays you can see laundry service shop sprouted left and right in every city. A laundry shop is one of the most stable and secure business the middle class people can afford without investing a large capital on their start up. In the minds of many new born entrepreneurs there will be a common question ‘How to open a laundry business?’ Here are few tips to those issues - an entrepreneur should establish a relationship with their neighbourhood laundry service that might offer a discount for the regular supply of business, create business cards and flyers and distribute.
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I use laundry service and I have to tell you that I am really happy now because my clothes are always clean and smells really good!
ReplyDeleteI like your way that you described for laundry service without any difficulty and makes system highly systematic.
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Excellent post! I must thank you for this informative read. I hope you will post again about Dry Cleaning Toronto
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