There are two ways to jump into the self-service laundry industry: constructing a brand-new store or searching for existing laundries that are for sale in your area. This program will focus on the pros and cons of buying an existing laundry and what every prospective laundromat should know.
CLA will host successful store operators who will share their experiences in buying an existing laundromat and what they learned along the way. Attendees will learn why panelists chose to buy an existing store vs. build a new store, how they found the right location to purchase and the steps they took to retool the store. The program will allow plenty of time to ask your questions of the panelists.
Panelists include:
- Steve Levine, Owner, Super Sudz Laundromat
- Michael Finkelstein, Multi-store owner, Associated Services Corporation
- Lisa Johnson, Multi-store owner, Giant Wash Laundry
- Facilitator Brian Wallace, President/CEO, Coin Laundry Association
Topics to be discussed during this expert panel will include:
- Finding the right location by analyzing demographics, competitors, lease terms, etc.
- Learning the right questions to ask of the seller.
- Determining the valuation of the store and calculating ROI.
- Verifying the income of an existing laundromat.
- Making the offer and closing the deal.