![]() When you eventually sell, make sure the lease is reasonably assignable to a new buyer! I was once caught in a big landlord squeeze at selling time. Many times, a leased mat provides a cheaper entry into the business, but if you’re not thinking 15-20 years ahead, you may not be happy at renewal time. If you lease, you may be able to get a great deal for the original lease but some landlords may put the squeeze on when you need to renew or to sell. Locating a mat in a shopping center that has mostly upscale stores may not be a good idea. A local shopping center that includes “chore stores” such as a supermarket, dry cleaner, dollar store and a fast-food restaurant or two is preferable. Most of the better locations are lease only. For instance, are the proper utilities even available in the street? Are you allowed to tap into them, and is there enough capacity available for a laundry’s needs? You also need to be sure there are no expensive problems with the building, so hire an inspector, just like you would when buying a house. You, your lawyer or your architect can do a search at your local building department to see if the structure meets the zoning requirements. Is the building even allowed to house a Laundromat? Not all commercial buildings are zoned for it. Why be at the mercy of a landlord if you don’t have to be? Obviously, this requires more capital on your part. If you can, try first to find mats for sale that include the building. They’re passed from one family member to another, or someone with inside information may buy it before outsiders knows the owner is selling. Really profitable mats rarely come up for sale. Then there are the mats in between: nice, earning some income, but there may be some issues. A cheap, run-down mat is usually better for an experienced mat operator who knows how to raise it from the dead.įor a profitable mat that’s been earning great money for years, is in tip-top condition, sports new equipment, comes with the building, and has an owner who’s willing to train and partially finance, well, expect to pay a lot more. You also need to know what’s the best mat for you. I wish I had a dollar (coin) for each time I heard, “How can I find the best Laundromat for sale in my area?” There is more than one road to achieve this.įirst, you must ask, “Do I have enough money to buy and improve the best mat in my area?” Undercapitalization is one of the main causes of business startup failures. It does not store any personal data.GLENDALE, Ariz. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". ![]() The cookie is used to store the user consent for the cookies in the category "Other. ![]() The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". ![]() The cookie is used to store the user consent for the cookies in the category "Analytics". These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly. ![]()
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