Laundromat Resource Forums Laundromats Acquisitions and identifying true value Reply To: Acquisitions and identifying true value

Jason Dodge

    How’s the lease Dan? Before you jump in, make sure that lease is proper. I would have an attorney take a look at the lease. I signed a lease I shouldn’t have, sold that business and I still have risk to this day because of that lease. The leasing manager told me one thing, the language in the lease said something different, when I sold the business the building owner refused to take me off of the lease even though I had a qualified buyer. The lease is a big deal, so treat it as such. It sounds like that location will be in need of equipment soon. The lender will require your lease to be longer than any loan term you take, just a consideration. Remember that laundromats can’t be moved, so you want a long term lease locked in.