Owning Laundromat in different state

[Austin Semon]

Hi,

I have an opportunity to buy a Laundromat that has been in business for 30+ years. I live in California but the laundromat is located in new Jersey. Does anyone have any tips or knowledge they can provide for me if this is a good investments since I will be running it from a different state.

Thanks!

[Sean Owens]

I know there are several owners that operate in this manner that can provide greater input. I don’t know that I’d suggest your first mat being that far away unless you have the resources (people/$) in place to support that real time. Things will happen…how quickly can you respond? Is it fully staffed? Can you trust that staff to take care of your customers? Is it card operated only? If cash is involved, are you going to make frequent trips to manage that or do you have someone in place that you can trust to handle that? An audit system in place?

It can be done…

[Juan Vazquez]

Yes, it can be done. I lived out of state for 11 years out of the going on 14 years that I owned mine. The key of course is finding the right, extremely trustworthy, hard working people that will assist in running the business. Good luck.

[Author]

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