Awsome video. I started my channel under the same premise, to help others from falling where I did. But mine is for vending machines businesses. I'd love to get into laundromats but my passion is helping others get into business and becoming financially free.
Thank you for this video! I have a meeting today with a seller and these points are much needed!! I can’t find them anywhere on YT! You got a new subscriber! Thanks and Keep it up!!
Great video, thanks for putting it together! How would you handle the lease expense portion of the multiple when it is a business+real estate purchase and not a lease?
Hi there, thanks for the infomative vids well worth subscribing 👍 My question is, is it worth starting a laundromat from scratch buying a property freehold and also buying all equipment ,selling house and risking entire life savings basically vs just buying a older business already running and paying the lease. Would like to see more videos on these types of scenarios. Thank you
Hi, this is a great video! I am wondering if it there is profit if I buy a laundromat from a bank loan? I don’t have liquid capital/cash to start this dream
Hi there - A few beginner questions from me: 1) do most laundromats come with some sort of manager in place? 2) are there laundromat property management companies that will open and close your store for example and run it day to day?
No, they don't typically come with management in place. It's a mom and pop business largely. There are some that have managers but most still don't. There are management companies, but not many. I know of one good one in So Cal if you happen to be here
Hello, Jordan! I need a question please! There’s a small laundromat for sale in a neighborhood area. It is not on a busy business road, but people pass by because it’s in the neighborhood itself. It hasn’t been opened in a long time, the machines even have spider web on them😅. Parking spot is for about 5 cars. It’s 2213 sq ft altogether, 1036sq ft (laundromat size), NOI $55,000 according to the listing agent. Real estate owned. Big question… Would you say it’s worth buying? I know I have to do my own due diligence, but just with these small details. What are your thoughts? It is listed at $100,000. Thank you in advance for your response!😁
Similar, but not the same. NOI is the same as EBITDA, so it’s before loan payments, taxes, etc. SDE is more what you’ll actually pocket when you own the business.
