Laundromat Resource › Forums › Laundromats › Anyone in the process of buying a laundromat or is searching to a to buy one? › Reply To: Anyone in the process of buying a laundromat or is searching to a to buy one?
Sorry its been awhile since I have been on here. Life became very busy. Since my last post I have looked at about 8 laundromats and made offers on two. Unfortunately both laundromats I made full ask offers on were taken off the market. I spent a lot of time looking at the laundromats , visiting them several times each, but mostly just passing by to see how business was at different times of the day and different hours before I made an actual offer. IN both cases I was not allowed to speak to any of the workers in the laundromat so it definitely felt weird walking in, looking around, taking pictures while the workers stare at you. In one case I was unable to speak to the owners because they did not speak English, I made the offer and after one week they decided not to sell it anymore. I was told they were selling because the wife was extremely sick but I guess she recovered a few weeks later. anyway I can explain more about my experiences in the group. I have a few more on the radar now, some further away than others. I have found a great distributor who has helped me a tremendous amount. I also had a great conversation with Chris Michalek of Prime Capital Financing who is a great help. I refuse to pay all cash because I believe we need the help of these experts for the due diligence faze. Speak to you all soon.