Any laundromat owners out there who can help me?
Anonymous
Bad idea Laundromat won’t bring you any profit
ibu guru
1. With that rent & utilities costs, $40k gross is eaten up with expenses. You have only $13k/yr for all your other biz costs. 2. Those machines are close to or beyond their useful life, which is why the place isn't used much. People avoid laundromats which have many machines out of order, or are dirty, or lack cable TV + free wifi, or lack a good supply of folding tables and comfy chairs to sit while waiting for wash-dry cycles to finish. Expect massive costs for new machines, upgrading facilities, staffing to keep the place clean & orderly & safe. Obviously a really bad deal, unless you want to buy cheap & invest in a serious upgrade of facilities. Expect to at least match costs to buy a good, money-making business fixing this place up.
NONAME
laundromats seem to be a safe bet...more people..more apartments...need for laundromats are not going to die soon
Casey Y
Laundromats are very risky businesses... Could you buy the business and liquidate for more than the purchase price? If not...don't buy these machines...
A Hunch
Transparent means he gives you copy of the tax return and other financial documents, not letting you view how many customers are there at a given time. Gross income doesn't mean anything - what is the profit? $10000 is not much money, as long as you aren't buying any debt. Do you have money to make the place better - fix the appliances, clean it up (new paint/flooring/good lighting)?