Hi All – I’m new to the group by way of the Podcast (Big shout-out to Jordan for blazing the trail here). I’ve been passively interested in owning a laundry business for a number of years now. Recent job stresses from COVID have pushed my wife and I to begin exploring this option more seriously, and laundromats seem to check our boxes.
My question is – what amount of information should I expect to get from a broker after signing the NDA but before making an offer? I’ve only made a few inquiries so far, but by in large the amount of detail that I receive is pretty consistently just the address to view the site, and something comparable to a P&L that a 10 year old could have written (a couple didn’t even specify if it was current YTD, last 12 months, or prior year).
Additional Note – All businesses considered thus far included a note that seller financing is N/A. So making an offer to me seems a bit more formal when I start making SB loan inquiries with the bank right off the bat.
Thanks in advance for any insight!
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