For Sellers
Are You Contemplating Selling Your Laundromat?
Here's Why Laundry Brokers is Your Best Bet
-
We Have an Abundance of Already Qualified Buyers
-
We Offer Laundry Focused Financing
-
Free Store Analysis & Valuation
-
Extensive Advertising & Exposure
Frequently Asked Questions
About Selling a Laundromat
What's the Best Way to Maximize My Listing Price?
The best way is to have all the income shown on the tax returns!
Buyers are looking at the net income - so count all the quarters that fall on the floor!
Whats the Biggest Mistake People Make When Selling a Laundromat?
The biggest mistake that people make when selling a laundromat is the remaining time left on the lease, including extension option periods. The lease may have additional faults and limitations, but the laundromat business has operated successfully with them. However, if there is little time remaining on the lease, then the sale of the store will be solely dependent upon the Landlord's willingness to offer extension options. A pending sale of a business puts the Landlord in a position of strength and leverage. The time to extend the lease is several years in advance of a business sale as part of the laundromat owner's exit strategy.
How do I determine the value of my laundromat before selling?
Determining the value of your laundromat involves evaluating factors such as its location, equipment condition, current cash flow, lease terms, and competition in the area. Many sellers also consider the average revenue and profit margins over the past few years. Hiring a professional business appraiser or broker experienced in laundromats can provide a more accurate valuation.
What steps should I take to prepare my laundromat for sale?
To prepare your laundromat for sale, ensure all equipment is in good working order and address any maintenance issues. Organize financial records, including tax returns, profit and loss statements, and utility bills, to demonstrate consistent performance. Additionally, review your lease agreement and make sure all permits and licenses are current. A clean, well-maintained facility will attract more potential buyers.
How long does it typically take to sell a laundromat?
The time it takes to sell a laundromat can vary widely depending on market conditions, location, and pricing. On average, it may take anywhere from 3 to 12 months to find a qualified buyer and complete the sale. Working with an experienced broker and pricing the business competitively can help expedite the process.
What Are the Benefits of Using Laundry Brokers over Selling By Owner?
Using Laundry Brokers offers several benefits, including access to a broader network of potential buyers, professional valuation services, and reduced time and effort on your part. Additionally, we handle all the details, making the selling process smoother and faster.
Disclaimer: All figures are projected or approximate numbers. Sales and expense information has been provided to Laundry Brokers, Inc. by the Seller. Laundry Brokers, Inc. has not verified the accuracy of the information, and purchaser should make any offers to purchase this business contingent on the Seller documenting the stated sales and expenses to the purchaser's satisfaction. Purchaser acknowledges that Laundry Brokers, Inc. specifically neither guarantees any income nor profits from the use of the equipment. Purchaser represents and warrants that it is not purchasing a franchise. Nothing contained herein shall be construed as creating a franchise relationship. Please confirm asking Prices and Down Payments with your representative, as Laundry Brokers Inc. will not be responsible and/or liable for typographical errors.
Disclaimer for listings in North Carolina, South Carolina, and Virginia: These listings offer the assignment of contract rights, which may also include an affiliate's leased location, along with a separate equipment purchase through our affiliated vendor. Lease Assignment: You are assuming a seller or an affiliate's existing leasehold rights, which are not being sold, but rather assigned to you. Any final lease terms remain subject to direct agreement between you and the landlord. Equipment Purchase: Laundry equipment is available through our affiliated vendor and is not included in the lease assignment.