First Laundromat Financing ?

[Amanda Mancilla]

Trying to jumpstart my dive into my first laundromat. I’ve been looking into some already established and for sale and just wondering if I should contact brokers for one that I’m interested in first or if I should secure SBA or other type of loan first ? I have some cash to put down but know would need financing for the majority part of purchase and renovation

• This topic was modified 11 months, 3 weeks ago by Alvin Espino.

[Emzy Barkus]

I was wondering is there someone that you could have me contact in my area to proceed with my first laundromat and you know just to talk to into give me insighting and what I need to do

[Heather Wilson]

I am also starting this journey. Today I’m working on financing and contacting Prime Capital’s Chris Michakel. He was on a few podcasts with Laundromat Resource. Their website is http://www.goprimecap.com.

[CHoward546]

Hi,

I also need insight on Financing a laundromat. I am interested in a Laundromat and reached out to the broker and signed the NDA. I have that information and will make an appointment to meet the owner. What I need at this point is to understand the financing part. I do see a post for Financing. I will reach out. Can someone let me know if there is anything else I need to know? This is the beginning of my dream and heart’s desire and need guidance.

[Reginald Coghlan]

It’s wise to explore both options simultaneously. Contacting brokers to inquire about laundromats for sale can give you a clearer picture of what’s available in the market. At the same time, start exploring financing options like SBA loans to understand the terms and conditions you might qualify for. This dual approach will help you gauge the feasibility of your venture and make informed decisions about the purchase and renovation process. Feel free to engage with both brokers and lenders to gather as much information as possible before making a decision.

[Doroty Herage]

Embarking on the journey of opening your first laundromat is an exciting milestone! Securing financing may seem daunting, but it’s a crucial step towards turning your dream into reality.

[brian lagman]

Hello,

I’m early in my laundromat journey, but my business partner and I have gotten some leads for some laundromats. Most of them need a lot of work and we didn’t have to replace all the old machines financing was the only option if we wanted to upgrade. I learned from other owner that Dexter financials provide excellent financing for acquisition and equipment. I haven’t gotten deep into my research yet but wondering if anyone else used Dexter financials. How was your experience? Was it worth it?

[Zoya Shah]

Branded notebooks can be a valuable resource for entrepreneurs exploring laundromat financing options. When starting a laundromat, careful planning and financial management are essential. Begin by researching potential locations and assessing the competition. Create a detailed business plan outlining your investment needs, projected earnings, and operating costs. Securing financing through traditional loans, investors, or specialized lenders can help bring your vision to life. Keep track of all financial documents in your branded notebooks for organized reference.

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