In my job, we consult entrepreneurs on getting financing. One thing we always tell them is to make sure to include six months worth of operating costs so that they don’t run out of cash until the business becomes profitable. I would assume that this rule of thumb certainly applies to laundromats, but I haven’t heard one guest on the podcast mention it. What do you guys think? Did you borrow extra capital beyond just the cost of the laundromat? Do you wish you did? Do you simply not need to do that if you’re buying an existing laundromat because it already has cash flow?
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