Repairs before Purchasing

[Michael McConnell]

I am looking at an established laundromat with 23 washers and 21 dryers. Mix of Maytag(16 washers and 16 dryers) and Hubesch(7 washers and 5 dryers). The Hubesch are all new in 2022. Two of the Maytag washers(18 lb and 35 lb) need repair. Three of the Maytag 30 lb stacking dryers need repair. Owner has not disclosed what the needed repairs are, but assures me they are repairable. Should I insist all units be in working order in my offer or do I lower my offer to account for the repair expense and possible replacement cost? I do plan to have the machines inspected as part of due diligence.

[Z Woods]

I would not over think this one- either have it fixed prior to closing at owners expense OR have the machines inspected by a qualified tech and lower your offer based on repair cost. I’m surprised the current owner hasn’t had them foxed himself yet… this means he’s not making $ on them.

[Juan]

Have them repaired prior to closing on the deal. It makes no sense to purchase a business with equipment that is not operating. As a new owner, opening or taking over a mat that has equipment issues and you unable to troubleshoot or repair just adds stress to you and the customers will be less receptive or willing to give you, the new owner a chance.

[jack frostensen]

and clearly you will have to repair it, do not think about it too much, I know that it feels very bad to have to put money for that but it is the best you can do

[Author]

Posts