Laundromat Sales in South Florida

Coin laundromats typically make very good investments and are highly sought after by many buyers. Most coin laundromats can be run relatively absentee, provide a highly stable and recurring source of income, and perform a needed service for its customers. Nobody wants to use a laundromat but many must because of their economic circumstances. Potential buyers of laundromats include entrepreneurs seeking a stable return on their investment along with competitors seeking to establish multiple locations of laundromats. Always hire a business broker experienced in laundromat sales in order to keep the sale confidential, price the laundromat properly using the right valuation technique incorporating the adjusted owner benefit, and targeting strategically qualified buyers.

Selling Coin Laundromats

• An owner of a coin laundromat thinking of selling their business should first contact a reputable and local business broker!
• Sellers of coin laundromats should then spend some time thinking about what sort of financial documents they are able or willing to give a prospective buyer.
• Because of the cash-intensive nature of the industry, many laundromats have tax returns or bank statements that do not reflect the economic reality of the business.
• In order to get the best price possible, owners of coin laundromats should report as much of the ‘cash’ income as possible and have the income reflected in their financials documents.
• Buyers will be able to more easily evaluate the actual income of the business, and thus pay a higher price for the laundromat.
• It is true that utility bills (particularly the water bill) may also show a savvy buyer what income the laundromat generates, but it is far better to also have financials which show the actual sales and income.
• Sellers can increase the value of their coin laundromats by simply cleaning up the facility so that it ‘shows’ better to a buyer.
• Many buyers wish to purchase coin laundromats, but they specify that they do not want a ‘dump.’
• Unfortunately, many owners of coin laundromats (especially absentee owners) do not put in the requisite time and expenditures necessary to refurbish and clean the facility.
• Dirty bathrooms, unclean floors, non-functioning A/C units, and a dilapidated exterior all give buyers a very poor impression.
• At minimum, such buyers will demand a price concession in order to account for the poor state of the facility, or they will simply not want to make an offer at all.
• Sellers of laundromats can maximize their selling price by ensuring that all of the washers and dryers are in good working order.
• Every prospective buyer of a coin laundromat should be provided with an ‘asset list’ of the washers and dryers included in the sale. 
• When a buyer subsequently inspects the facility, they will invariable check to see if the list they are given matches what is actually in the facility.
• Many buyers will base their offer on the condition of the machines and how many are actually functioning.
• It is far less expensive to make the repairs before the selling process begins rather than accept a price concession due to non-functioning machines.

Give Martin at Five Star Business Brokers of Palm Beach County a call today for a free evaluation for your coin laundromat, drop-off store, or dry cleaning plant.