Hey everyone,
I have an interesting idea; well I think its interesting. I am looking to buy a laundromat this year and I feel like I have done enough due diligence. Here is the interesting idea part, please ask me anything you can think of as it relates to the laundromat. A few to get started might be mind set, opportunity cost, growth, demographics, ROI or if I am terrified. I would like to compile all questions asked into an accompanying sheet to Jordan’s accounting for any overlap of course. Ill put in basic information below.
Cost: 300k needs new machines estimated at 250-300k
Total on the high end 600k
Location: Southern California, well populated city with many upscale apartments nearby that have little to no onsite laundry
Next closest laundromat is just over 1 mile away.
Financing: In an ideal world I will put 30% down for the acquisition and get 100% of the new equipment finance, however, were prepared to put down 30% for the whole loan.
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