With 25 years of experience buying, selling, valuing, retooling, analyzing and giving expert court testimony about coin laundries, Chuck Post is one of the nation’s leading experts in the field. His guest appearance on BizBen Talk Radio provided a great deal of information for anyone considering the purchase of a coin laundry.
Longevity and location are the most critical factor when assessing the merits of a coin laundry business, Chuck told the listeners. The value of this kind of enterprise is based to a great extent on the expectation about the number of years an investor will have to get a return on his or her investment. Contributing to longevity is the length of premises lease and the economic future anticipated for the area.
Offering a valuation rule of thumb, Chuck said a coin laundry should provide a 20% annual return on the amount invested. He also explained that there are considerable tax advantages to owning this kind of business, and said the “cash only” aspect of coin laundries adds to their appeal among business buyers.
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