How Do You Buy A Laundromat Business?
Owning your own laundromat business is a great way to create a steady flow of revenue even in a tight economy. Rather than starting your own business from scratch, it is often a good idea to acquire an established laundromat business. This allows you to forego many of the start-up costs involved in finding a location, establishing utilities and buying equipment. Still, there are several key elements that you must address before purchasing a laundromat business. Here is what you need to consider prior to making any type of commitment. Step 1 Make sure your finances are in order. Before you begin to look for a business to purchase, make sure you qualify for financing to handle all acquisition expenses. In addition to making sure your general credit is in good shape, establish a business line of credit with a local bank. You can draw on the credit line to finance the purchase and also take care of any expenses associated with the transition of ownership. Step 2 Identify a potential busine
