Hello Everyone!
I’m looking to join the club and buy my first laundromat but I have an interesting question to ask. As I’ve done some research of the area that I’m looking to buy in, I’ve stumbled across the fact that there is a local chain as well as other laundries. Here are some statistics of the area.
Location Type: Small City
Population: 27,000
Number of Laundries: 7
1 of the 7 laundries in this city is owned by a couple that have 5 laundries total in surrounding towns. Their laundries have a lot of features. Option to pay by cash/cards/phones, mulititude of machine sizes, wash/dry/fold service, pickup and delivery services, and commercial contracts. All the locations have been in 2020 with brand new machines and they have 5 star ratings across the board.
With that being said, should I be concerned with buying a different laundromat having them as a competitor? This information has really put a dark cloud over my head after doing so much research of buying my own.
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