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Old 01-27-2009, 01:21 PM
Sean Sean is offline
Join Date: Jan 2009
Location: Pleasant Hill, Ca
Posts: 2
Evaluating a laundry mat for purchase

Hello Everyone,

I have been reading through posts the last couple of days trying to gain more information about this business. I have an opportunity to purchase a Laundry Mat locally. This would be my first Mat and I am looking to learn the business and hopefully add a few more over the years.

The opportunity: Mat has been on the market for a month, the owner filed bankruptcy and the bank is selling the business. Apparently the housing crash hit the previous owner and he could not afford to pay his mortgage and outstanding debts. The Mat has been in the area for 20 years I am going to look at it later today what should I look for?

This is the description I got from the bank:
18 Top loader washers Maytag
2 30lb – Can someone tell me if this is larger than the top loaders. Excuse my ignorance.
12 Dryers 30lb – they are stacked
Auto door lock/unlock Store access
Rent is $1474.00
Purchase price 90K

Since the owner is not available for questioning I will need to do some evaluation. I can also attempt to contact the previous owner and compensate him for his time.
The Questions I have:

What should I check on the machines and facility, would hiring a Maytag technician to verify operation be a good idea?

Repair – What is the best way to learn how to service the machines?

I have seen some techniques to determine daily earnings, how should I estimate?
What are good sources to find demographic information like Apartment count, income level, etc.?

Are there any other questions as an existing mat owner you would ask?

Thank you very much for your help!
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Old 01-27-2009, 01:35 PM
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Coinwash Coinwash is offline
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Join Date: Oct 1999
Location: NY
Posts: 2,967

Have you read this ?

Originally Posted by Coinwash View Post

Starting a Laundromat can be a tough
for several reasons.
Please click here...


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Old 01-27-2009, 01:53 PM
Sean Sean is offline
Join Date: Jan 2009
Location: Pleasant Hill, Ca
Posts: 2


I found this link very helpful!


Starting a Laundromat can be a tough
for several reasons.
Please click here...

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Old 02-06-2009, 08:40 AM
Suds Suds is offline
Join Date: Sep 2008
Location: Florida
Posts: 201

Your in California where competition appears to be pretty tough. It would be a great idea for you to drive around to check out the mat's competition, prices, hours of operation, and compare your location to both theirs and the aparments, homes, or business closest to you.

The mat seems to be heavy in the toploader department. I've got 10 8 month old toploaders and 10 frontloaders that vary in size from 25 lb to 55 lb machines.

A 30 lb machine is approximately twice the size of a standard toploader. Depending on your location you may be a bit shy on the larger machine options.

You didn't state what brand dyers you had nor the condition of the units.

Repair: Best option would be to look into training seminars, find someone in the business that can train you and or call and work with the service person to help you troubleshoot and repair. The basic stuff is not that difficult but you'll have to learn that from someone that is willing to help out. I'm working on my 4th month of operation and am still having fun with it. You'll have to check back with me in a few months or in about a year to see where I'm at with the outlook. Good luck with your venture.
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Old 02-08-2009, 11:39 AM
alesser738 alesser738 is offline
Join Date: Aug 2004
Location: ca
Posts: 81

I know that store very well. Run don't walk... it's a dog
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Old 05-24-2012, 05:23 PM
davidblaine davidblaine is offline
Join Date: May 2011
Location: Michigan
Posts: 37

You may still get into the laundry biz, but don't buy this one. First of all, the top loaders are energy hogs. They use too much hot water per load.

Yes, the thirty pounders are like triple loaders. When you say 12 dryers do you mean six stacked dryers with twelve pockets? Or twelve stacks with twenty four pockets? Do you know the age of the machines? I believe all you're buying here is equipment as you still need to pay rent.

If the laundry made money the old owner wouldn't have lost it. I think you could buy the equipment new for a hundred grand, with a warranty, and pick a better location. It takes a lot of research, both demographics and competition. Don't be scared of other laundries, be scared of very nice laundries. Good luck!!!
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Old 05-25-2012, 03:28 PM
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pete f pete f is offline
Premium Member
Join Date: Oct 2002
Location: Las Vegas, NV
Posts: 6,267

A person already stated he knows the store, take the advice. You would be buying infrastructure and a lease along with equipment. If it is a prime laundry location then 90k is not bad, it would cost double that to reproduce the store as is now just in electrical, gas, plumbing and build out work. I know places the impact fees are 50k on top of all that, but I do not know the location or if it is a good one so I would trust the other post. You could do demographics and look around at all the other mats to get familiar with the areas and get an idea of what works and what does not to prepare yourself. Some places are just badly located and will never do well no matter how smart or how much money you dump in them. I suspect it closed down for that reason, even if the guy lost his house he would have kept the golden goose alive
if it was that easy everyone would do it..

Last edited by pete f; 05-25-2012 at 03:29 PM. Reason: spell
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