During a laundromat sale, the condition of the equipment will be a top priority for both the buyer and the seller. It’s not the only thing that will be considered, of course, but since the machines are the lifeblood of the store, if you’re selling yours, you’re going to need to be prepared to prepared to present all the facts about your laundry equipment.
What Buyers Want to Know
Replacing equipment can be costly—that’s a fact. And it’s one that persuades many laundromat owners to sell their business rather than reinvest in it. But that means that too many laundromat sales are taking place when the equipment inside it is nearing the end of its life cycle. This has made buyers wary—when they’re looking to invest in an existing business, they’re not necessarily looking to sink even more capital into replacing all of the machines. Keeping your machines in good order and not putting off the sale of your will help you to stand out from other sellers. If you’re considering selling, do it while your laundry equipment still has several years of life left in them.
In addition to the age and vitality of your machines, buyers will also want to know how efficient they are. This is sometimes considered a separate “utility bill” concern, but it’s closely related to your equipment, since more efficient machines will be able to pull in the same amount of revenue for a smaller cost.
How You Can Prepare for the Sale
To prove that your store is worth the price you’re asking for it, you’re not going to want to put your business up for sale without doing some preparation. You probably keep plenty of records of your business. Be prepared to pull them out again to show potential buyers.
Maintenance records are your first tool. Buyers will want to know not only how old each machine is, but how long it has been since they were last serviced. Having records that prove regular maintenance goes a long way in showing that your machines will last as long as you expect them to. While not all buyers will ask, be prepared to show who maintained your machines as well, as the reputation of the mechanic may factor into the buyer’s decision.
Automated Laundry Systems has been helping laundromat owners maintain and upgrade their facilities since 1976. We also help facilitate laundromat sales between owners and investors. If you’re looking to buy or sell a laundromat in California, contact us today.