Reply To: Brokers and Landlords

[Chris Schultz]

I know what store you are talking about. You’re likely looking at replacing all of the equipment. What is there is not usable to make any sort of profit. Also, to justify $13k/mo the store would have to gross $625k. I’m not saying this isn’t possible, but the investment would be quite large to get it there. $290k for the store plus $600k for new equipment, and then probably figure $100k as a low figure for renovations and rebranding.

The landlord is the landlord for quite a few stores in Chicago, and he is the largest broker in Chicago for laundromats. This is a normal situation for him.