Super Laundromat anyone??

[sdudeck]

There is a Super Laundromat going in across town. I call thier NY office and spoke in length about the opportunity they present. Does anyone have experience buying from "Super Laundromat"? (not super laundry) I am wondering if their projections hold true.

Thanks for any info you can give me.
Steve

[skidrow]

What is Super Laundry, is it some kind of franchise? And what projections did they give you, need details.

[sdudeck]

Super Laundromat builds mats and then sells them. They do not sell the property only the business and machines. They offer financing, basically a turnkey opportunity.

Super Laundry I beleive is a franchinse.

[sdudeck]

All depends on the demographics. BUT on this particular site they gave projections of 7-10,000 week. 400-500,000 per year.

Square footage 3750
Store cost 825,000
Rent/lease 4750/mnth
20% down and finance the rest through them. So they are looking for qualified, organized owners to buy these mats. They need to in order to keep them running and to recieve their monthly rent and to pay back the loan.

They have currently built 82 stores. i am tracking down past buyers to see how they made out.

[pete f]

All depends on the demographics. BUT on this particular site they gave projections of 7-10,000 week. 400-500,000 per year.

Square footage 3750
Store cost 825,000
Rent/lease 4750/mnth
20% down and finance the rest through them. So they are looking for qualified, organized owners to buy these mats. They need to in order to keep them running and to recieve their monthly rent and to pay back the loan.

They have currently built 82 stores. i am tracking down past buyers to see how they made out.


10k a week out of 3750 SQ Ft and only $4750 month rent, is really a great deal. If you can get them to agree to put that down in writing and gaurantee it, I would go for the deal. Other than that, plan on about 1/2 of what you are told to be on the safe side, then offer them about $400,000 for the new store.

[sdudeck]

Thanks Pete - your replies are always helpful!

Do you know of anyone that has purchased a "Super Laundromat" store. They have had over 75 built in the Notheast.

Thanks

Steve

[TotoMongo]

There is a Super Laundromat going in across town.


Do they have a website?

[JBTcajun]

Wait!
Wait!

They actually build the store then find a buyer. If no buyer is found before the project is completed what do they do?

If they wait to find a buyer to actually begin spending the real bucks why cant the buyer just do it on his own? Skip their turnkey charges and save a bundle?

A good distributor would do most the service they are providing for the sale. They point you to the financing for the equipment. Help you through the city BS. Design the store, etc. With the kind of lease payment you are talking about a good real estate agent can help with finding a (if not the same) location; and guide you through the financing there. Then it would be mortgage payments.

What are they offering? Will they OK you for these loans and leases where others will not? Less work for you? If you don't want to work why do it in the first place?

Just a slow Cajun boy trying to understand the big city ways.

[mike]

Their clients are the "doctors and lawyers" that are looking for what they "think" is a passive business.

They offer it turnkey to anyone who doesn't want to do the footwork.

[SmartCard]

superlaundry.com

[BKB]

Super Laundry built our store (3000 sq.ft.) in 2001. They decided to franchise their stores but I wasn't interested-$$$$$$$$$. Their office
closed for business about a year ago. if you want details, email me at
BEVERLYKAY@ATT.NET. The eastcoast may provide a different quality of personnel than I encountered.

[Pete_tx]

I'd take the time to make 83 phone calls and see how happy the other "Clients" are.

They (Superlaundromat) should provide contact info for all of these.
If not, walk away.

[sdudeck]

I understand the difference between doing it yourself and having someone like Super Laundromat (Laundromax) do it for you.

Having the turnkey opportunity (When presently working to keep another mat running) is very attractive.

Looking to buyout your competition for defensive measures is another reason why we are considering.

We will do our research and then decide. Thank you for your replies. Again ANYONE with information they would like to share is welcomed.

Steve