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  #1  
Old 05-25-2015, 02:00 AM
Sickgolf Sickgolf is offline
 
Join Date: Apr 2015
Location: Pennsylvania
Posts: 5
Default Only mat in town

The town I am looking into for a laundromat only has one mat in town now and it's been there for 30 plus years with no competition. Their location isn't that great and it's not visible from a main road. It has 15-20 year old speed queen equipment with the exception of4 new dexter washers. The place is dirty and attended on the weekends. Every time I drive by or sit outside for an hour or two there are always people there.

Demographics show 30,000 people. 65% homes 35% renters. Mostly single or small families. Not a lot of ethnic diversity tho. Predominately white town. Low to middle class income.

I plan on trying to purchase the existing mat if possible for a decent price. But from what I hear she is a stubborn older lady. So the question I have is how do I tell if there is enough customers around to support a second mat if she won't sell? I really don't wanna build a new mat for my first but it might be worth it if it's the right spot.
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  #2  
Old 05-25-2015, 07:10 PM
shad2038 shad2038 is offline
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Join Date: Sep 2008
Location: Mildura Australia
Posts: 1,241

Get the message to her (Indirectly) that you are considering building a new Mat, then sit back and wait for her to contact you.

Best of luck.
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  #3  
Old 05-25-2015, 09:12 PM
Rudy Rudy is offline
 
Join Date: Dec 2011
Location: Canada
Posts: 158
Default

In my opinion, I'd say there isn't room for 2 mats. You've got 10 000 renters, I don't know how far they are from the laundromat, but that sounds like my area.
There is only enough business for one mat and it's not a great deal of money.

Only a small percentage of renters will use the mat if they have washers in the building and even a smaller percentage of house owners will (when their washer breaks down). Find out which buildings have washers and how many per building. How far are they from the laundromat? Find a bunch apartment buildings with no washers and then maybe you may have a chance for a second mat..

The older lady probably has another job weekdays, that's why it's attended just weekends. Or it's not that busy weekdays. Weekends get busier than weekdays. Laundromat is dirty if it's not attended, because even a spotless laundromat can get dirty within a couple of hours, if there is no one to clean up right away.

I don't know if she's ran it the whole 30 years, but trying to take the limited income she has from it in her older years sounds pretty dirty to me. Especially when it's a small town, fighting over the few customers is a waste of time. Let's say you open another mat, then you both make little money and then try to see who goes out of business first? Then you'll be the one who has to find another job weekdays.

Go do laundry there, chat with her, ask why they're not attended on weekdays.
Then ask why she doesn't hire someone to help her weekdays. That question alone should make her say whether she can afford it or not. If she can't then she's not making much.

If she's the only mat in town, and if there is enough room for another laundromat, even if the place is dirty, she'd be busy all day long everyday. But you can't tell that by driving by occasionally. There are busy times that doesn't mean everyday is busy all day. I've had days where it's almost shoulder to shoulder and then 2 hours later no one is around for a few hours.

Of course this is my opinion based on not much information. I could be wrong.
You need to do more research.
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  #4  
Old 05-26-2015, 04:15 AM
Sickgolf Sickgolf is offline
 
Join Date: Apr 2015
Location: Pennsylvania
Posts: 5
Default

All very good things to take into consideration. Thanks for the input.

As for her having a day job I know she doesn't. She has two tanning places right next to the laudromat as well as tanning places in two other towns close by. I don't believe she actually works anywhere. As far as I know she has owned it the whole time. I can't find any record of it changing hands in the past.

I have walked thru a couple of the apt buildings to see how many rooms were in each building and if they had laundries. All of them had some sort of laundry but none that I would wash my clothes in if I lived in that building.

Her mat is currently a little more than a mile away from all the rental buildings. They are all in the center of town on the Main Street and she is towards the outskirts of town.

I did laundry there once on a Tuesday and there were a total of three people there in the 2 hours that I was there but no attendant to talk to.

I'm not going to approach her for a while yet. I still have a bunch of stuff I want to find out from the township about permits and impact fees before i make any contact.
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  #5  
Old 05-26-2015, 11:25 AM
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mike mike is offline
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Location: montreal
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You go bankrupt before she does !
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  #6  
Old 05-26-2015, 02:11 PM
Sickgolf Sickgolf is offline
 
Join Date: Apr 2015
Location: Pennsylvania
Posts: 5
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Sounds good. I think I'll just walk away and keep looking in other towns. I won't let my first store be a mistake purchase.
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  #7  
Old 02-18-2018, 04:55 PM
frank frank is offline
 
Join Date: Jul 2009
Location: harrisburg, pa
Posts: 40
Default Sickgolf

How did you make out with the laundromat in the thread or with another mat? The town you described is similar to the one that my mat is in (Dauphin County). Are you near there? I agree with the other responders. Small town don't have the capacity for two mats.
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