Happy to have found a great resource like this to learn the business from experienced professionals like Jordan and the owners/operators on this forum. I’m retired from my first career in an unrelated business, and am well into my second career in the finance sector. I have life experience, but never owning or operating my own business, so I’m ready to learn. First things first, I’ve been researching buying a laundromat for well over a month for several hours a day to ensure I’m making an informed choice.
I was surprised that all of the laundromats that I found on bizbuysell.com are impossible to look at in person without going through a broker and signing an NDA. Its a nonstarter if you’re not willing to sign an NDA, won’t even give you a town or address. Thats how they make money, I get it, but uneasy signing an NDA. Has anyone had these NDAs come back to haunt them? Meaning a broker used an NDA to prevent you from looking at other properties or something?
Next question, how do you value an existing laundomat? Its seems the valuations are very arbitrary. I’ve read 3X or 4X the cash flow is standard. Is that accurate?
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