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Are Full Service Laundromats Becoming More Popular With Laundry Buyers?

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Comments & Replies: 1     Views: 3144     Posted By: Chuck Post  Chuck Post: Laundry Specialist, Consultant, Due-Diligence



Topics: Business Brokerage, Business Opportunities, Buying A Business, Selling A Business     Tags: buying a business, selling a business



The laundry business across the country is undergoing a very positive change. For a long time laundromats were thought to be a business that primarily caters to low income, renter populations. This is not the case today. More and more laundries are embracing the Full Service concept. These laundries are cleaner and better operated. They address Cleanliness and Safety as a natural part of the model. This customer service oriented operating style is being well rewarded in higher revenues and better and safer environment for customers.

In recent months we have done diligence work locally, throughout Southern CA and in Florida, Texas and New York, all with significant portions of the income coming from, what was once considered a sideline or ancillary part of the laundry business.

Drop Off or Fluff & Fold business is rapidly growing. This is relatively easy to start up and for those willing to put in time can be built to very high levels. This can easily lead to Dry Clean Agency business. More and more dry cleaning is being handled by agencies. Laundries are a popular place for extending this service and works well for all parties. Although, some changes in marketing, interior and operating style may be needed. Commercial Work and Pick Up & Delivery services are another advanced stage of this development.

What kind of numbers? We have seen some of these laundries with full service features that are out-performing the coin business by 2-fold. Earnings of Six figures in this area of the business are not uncommon at all. We have watched and assisted in the development of laundries that have grown into 5 figures monthly and keep finding more. However, you need to be aware of many things before venturing off in this direction. You also will need to have a higher dedication to the operation of the business. Yes, more time too. At least, until your model is well solidified.

Replies To This Comment
 
Contributor: Business Broker: LA County Area  Post ID: 978
Chuck: You're dead-on correct regarding the speed in which Pickup & Delivery services are gaining popularity. At the 13-unit apartment we own in the San Fernando Valley, there are now 5 families who get their laundry picked up and delivered. There wasn't one family doing that just three years ago. It's not only becoming more accepted, it's getting cheaper in relation to the cost of driving, sitting, waiting at a laundromat.



  Helpful Resources To Assist In Selling And Buying California Businesses
Mike Hurrell, Broker: Coin & Card Laundry Specialist Brokerage

Providencia Properties Inc in association with Golden State Laundry Systems is a full service Coin Laundry Real Estate Broker. At GSLS you will receive personalized attention from our professional staff of coin laundry experts. To sell or buy a Southern CA laundromat call Mike at 310-223-2240 X209.

Larry Larsen, Broker, Laundry Specialist - Orange, LA Counties

I have over forty years of experience in the sales, ownership, management, and construction of coin laundries. He is a licensed broker active in the sale of coin laundries, a licensed insurance agent specializing in coin laundry insurance.

Chuck Post: Laundry Buyer Representation, Consulting, Due Diligence

Chuck Post has 32 years experience in the laundry industry, specializing in assisting laundry buyers (and entrepreneurs) with buying or starting up, building, re-tooling, laundries throughout California. Laundry buyer representation, consulting, due-diligence, lease negotiations, laundry valuations.

Brad Steinberg, Broker - Laundromat Specialists

PWS is the leading laundromat broker in California. Since 1968 PWS has brokered over 2,500 laundromat sales. With over 90 employees dedicated to the coin laundry industry, PWS has 18 licensed agents, a 3 person in-house finance department, 10 service technicians and a 20 person parts department.

Steve Erlinger: Laundry Broker, Consultant - Southern California

I specialize in the laundry industry broker and consultant in Southern California. I assist buyers navigate the many facets of finding, evaluating, and operating a laundry business. I also help current laundry owners find additional stores, sell, evaluate an existing laundromat.

Peter Siegel, MBA - SBA Loans, Non SBA Financing Assistance

For over 25 years I have provided niche business purchase financial advisory and loan placement services with SBA and Non-SBA Loans, Retirement Plan Conversions, Private Investors, etc. Financing amounts available: $20K to $7MM. Call today to get pre-qualified or receive financing: 866-270-6278.

Mark Chatow, Esq.: Legal Services For Buying, Selling Businesses

Mark has a broad range of small business purchase & sale experience from analyzing potential acquisition targets to successfully guiding buyers and sellers through the purchase & sale of small businesses. Mark can assist with contracts, negotiations, legal matters, etc. Reach Mark at 949-478-8393.

Diane Boudreau-Tschetter: Escrow And Bulk Sale Services

California Business Escrow, Inc. is a full service independent escrow company serving all of California and has expertise in a wide range of escrows. Our team prides itself on providing an exceptional escrow experience. For more info phone Diane Boudreau-Tschetter at 888-383-3331 or 209-838-1100.


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FREE Live Laundry Seminars For Buyers: See Our Upcoming Schedule Of Seminars

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See All News, Tips And Events

Chuck Post Laundromat Industry Expert
Larry Larsen Laundromat Broker
Golden State Laundry System Laundry Business Brokers
Steve Erlinger Laundromat Broker
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