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View Full Version : Spin-Cycle Stores

Joshp615
02-08-2005, 01:58 PM
Does anybody have any info on the Spin-Cycle stores for sale? There's about 3 for sale in my area.
fluffy
02-08-2005, 08:50 PM
This has been discussed before - you can do a search and find previous posts. The chain went bankrupt and was bought by PWS according to previous posts...they're selling off stores priced at a premium now.
PeterH
02-09-2005, 11:36 AM
A couple of friends and myself approached them about buying some stores here in my area. They are great stores in great locations. The guy was very easy to talk to, but they are pretty set on their price per store, so there is little to no negotiation. Look very carefully at the numbers before agreeing on their price!
smellysocks
02-11-2005, 03:41 AM
its hard to believe they sold the stores in phila for the pricetag they had fools born everyday, way over valued they will never make it, i agree with pete check the numbers, you could build new one down the street for half the cost, whoever did there leases should be shot the were the worst i have ever seen. i looked at them in phila to buy. good luck let us know how you make out.
Anonymous
02-11-2005, 11:47 AM
Just curious what type of #'s are they getting for the stores and what type of rents are they paying.
Anonymous
02-12-2005, 11:30 AM
PWS has sold some mats here in Vegas too. Always top prices
Joshp615
02-12-2005, 12:10 PM
You can get the listings in your area at their web site, www.spin-cycle.com. I spoke to them on the telephone and their sale price is based on a 20% to 25% return on your money. The prices range from $400K to over $1M.
SmartCard
02-14-2005, 08:10 PM
The stores in the Detroit area really stink. I looked at the numbers and the only way to break even was either work the store yourself or run unattended. The machines were getting a little long in the tooth. If you want to make money, put it in the bank at least you would get a small return vs. none at all or most likely lose money.
Ken
02-15-2005, 02:04 AM
$400-1M?
You can have store built for the same price or less,unless the store is making a lot money.
PeterH
02-15-2005, 06:50 PM
Whoever did there leases should be shot. They were the worst i have ever seen.

Amen, brother! That's what they get for putting these stores in prime supermarket centers. $30/sq ft and up was my main objection.