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Are Full Service Laundromats Becoming More Popular With Laundry Buyers?

Comments & Replies: 1     Views: 3271     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.

Steve Erlinger: Laundry Broker, Consultant

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. Call 949-500-5893.

Larry Larsen: Laundry Consulting, Brokerage, Insurance

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. Phone me at 714-630-9274 or 714-630-Wash.

Peter Siegel, MBA, BizBen Founder, ProBuy, ProSell Programs

Founder & President Of BizBen.com (since 1994) & BizBenNetwork.com. I am the Lead Facilitator for the ProSell & ProBuy Programs on both websites. I consult daily with buyers, sellers, and intermediaries daily about buying and selling businesses. Call 925-785-3118.

Chuck Post: Laundry Buyer Representation, Consulting, Due Diligence

I have 32 years experience in the laundry industry, specializing in assisting laundry buyers with buying or starting up, building, re-tooling, laundries throughout CA. Laundry buyer representation, consulting, due-diligence, lease negotiations, laundry valuations. Contact me at 619-227-5711 Cell.

Brad Steinberg, Business Broker: Laundromat Specialist

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.

Willard Michlin, CPA, Certified Fraud Examiner, Due Diligence

Willard Michlin, CPA #106752, offers buyers step by step training & assistance in doing Due Diligence Services when they are thinking of making an offer, or are in process of investigating a business purchase. He helps to determine the actual net profit even when there is cash. Call 805-428-2063.

Helen Yoo, New Century Escrow - Escrow Services In Southern California

New Century Escrow, Inc. is a fully licensed & bonded independent escrow company. Over 20 years combined experience in handling bulk escrow transactions. Multi-lingual staff that speaks your language, including Korean, Chinese, Vietnamese. Call Helen Yoo direct at 626-890-1151.


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