Leasing Laundry Equipment?

[Nicole Graves]

Hello all, I am a newbie in the very beginning stage of searching for a Laundromat. I have visited 3 so far. 1 has really old machines , but has a good location. I have just started researching equipment leasing. Is leasing the way to go to upgrade the machines? I would appreciate any insight that you can offer. Thanks!

[Sean Owens]

Nicole,
I don’t think leasing is a viable option for the long haul. I would suggest researching local equipment distributors and find one that is knowledgeable, isn’t pushy and makes you feel comfortable with your many questions. Then follow up with some of their clients in different areas (so not to discuss their performance with local competitors and ruffle feathers) to get their input on how well the distributor performs.
Many manufacturers offer financing for the equipment/retool and the distributor should be able to share that info with you. I’ve done my rehab in phases so not to break the bank and keep a positive cash flow. Others have done it all at once so there is more than one way to skin the cat.
The thing you can’t change is the location and that’s a very important piece of the equation.

[Nicole Graves]

Thanks so much for the insight. I’ll do my research. Appreciate it!

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