Does This Seem Fishy?

[KevTransAm]

Was talking to a broker, said he has a Mat for sale.


Asking: 49000
Gross: $45,000
Profit: $23,000

I do not have much information on it yet only that the owner is retiring. It is fairly small 600 sq ft and has no WDF and Vending in it. So there is a small potential to make more income. I am assuming it is unattended. There is no room for payroll in those numbers unless you pay the person in monopoly money.

[Jim]

Anything is possible but we need more info.....

Just looking at the numbers you posted it leaves 22K to pay all the bills which include rent, gas elec, water, taxes....

Like you said there is no money for payroll unless the owner works there...and dosn't pay themselves very well...

For a 600 sq.ft. mat, it is possible, but need more info...

[KevTransAm]

For the hours the business is open I cant see the owner working there. He could make more money sweeping floors at McDonalds!

I will have to get more info..Thanks

[mike]

Sounds like a place about to be

"without a lease"

[KevTransAm]

Says 10 year lease....It's a small mat, if unattended then the numbers should match up..I am waiting for the broker to call me back.

[MSKLAUNDRY.]

The #'s sound possible but if you plan to have an employee then its a waste. I don't even think its worth the effort to offer WDF as you may never earn enough to justify the additional labor costs involved. If you look at it as a long term investment then you will potentially make 184K over 10 years. With is pretty good if you don't need to put much effort into it.

[Jim]

Another thing to consider is the condition of the equipment...
is it going to last awhile or do you need to replace it soon.

What type of neighborhood is it in...are you going to have to worry about being robbed or repairing damge from the neighborhood scum...

How close is it to where you live... is it on the way home...

Do you have the time to deal with the problems that go along with the mat...

yada, yada, yada...

[pete f]

This may be a good deal or not. We have no idea what type of market it is in, so really, nobody can comment much. I would say if it is close to where you live, and you think the equipment will last a couple more years, nobody is building anything close by, then it is may be a nice little extra income. The w/d/f is a hard road, but once built, pays off. I run all unattended becuase I do not want to build any new roads. Small mats pay off little, but if nearby not to bad to run one. Don;t plan on retire just yet..

[KevTransAm]

Well it turns out the mat sold...So Someone thought it was a good deal. I am assuming it was an unattended. I am going through a broker so they dont relase much information...nothing at all on a mat thats already gone.

I agree with Pete F on the no WDF. I work a daytime job and a mat for me would be something a little extra to supplement my income. An unattended place would be great, there are just a few worries I have considering security, broken machines leaking water all over the place, and someone to open and close..


To be honest with you, that one place I mentioned that sold is not close to me at all...Not even on my way home from work. Its a good 30 min to 40 min away and in the opposite direction I normally travel on. I found another place somewhat local with numbers that make it look like there is no way there could be an employee...I am waiting on the paper work on that one...hopefully it is an unattended mat.