davidh325
03-12-2004, 08:00 PM
I have been researching the industry for about 8 months and would like to get into the coin laundry business.
I have been looking at a REALLY small store in a great location surrounded by college students and low to middle income renters. The store looks like it hasnt been upgraded since the 1960's! It has 1 IPSO Superload, 2 Dexter 600's, 2 Dexter 400's, 18 GE top loaders, and 15 dryers. Everything looks in terrible shape.
ALL of the equipment would have to be replaced. This is a leased space at the end of a small (4 unit) strip center.
There is nothing like this around, so it does ok business. The owner retired after MANY years, so the bar/grill next door bought it to keep something undesireable from moving in that space.
A Wascomat distributor told me we could do this for around $60,000, equipment AND remodeling.
My question is, are there any other specifics or details I should be looking at? What about business legal structure? Corporation, LLC??..........What about security cameras and televisions?
Finally, what about insurance and CLA membership? I have heard bad things about the C.L.A.
Remember, the current owner is NOT looking to sell, but might sell if I kept this space as a coin laundry.
Any and all input would be greatly appreciated.
I have been looking at a REALLY small store in a great location surrounded by college students and low to middle income renters. The store looks like it hasnt been upgraded since the 1960's! It has 1 IPSO Superload, 2 Dexter 600's, 2 Dexter 400's, 18 GE top loaders, and 15 dryers. Everything looks in terrible shape.
ALL of the equipment would have to be replaced. This is a leased space at the end of a small (4 unit) strip center.
There is nothing like this around, so it does ok business. The owner retired after MANY years, so the bar/grill next door bought it to keep something undesireable from moving in that space.
A Wascomat distributor told me we could do this for around $60,000, equipment AND remodeling.
My question is, are there any other specifics or details I should be looking at? What about business legal structure? Corporation, LLC??..........What about security cameras and televisions?
Finally, what about insurance and CLA membership? I have heard bad things about the C.L.A.
Remember, the current owner is NOT looking to sell, but might sell if I kept this space as a coin laundry.
Any and all input would be greatly appreciated.