Laundromat Businesses For Sale

What types of laundromat businesses do you help buyers acquire?

We specialize in a variety of laundromat businesses, including coin-operated, full-service, and laundromats with additional services like dry cleaning or wash-and-fold.

What is the typical process for buying a laundromat business through First Choice?

The process begins with a consultation to understand your preferences, followed by identifying available laundromat businesses, negotiating terms, and guiding you through the closing process.

Are financing options available for buying a laundromat business?

Yes, we work with lenders who specialize in small business loans to help you explore financing options suitable for purchasing a laundromat. Also, many sellers will offer financing with a sizable down payment. 

What is the typical timeline for purchasing a laundromat business?

The timeline varies but typically takes several weeks to a few months from initial inquiry to finalizing the deal. This often is dependent on the city, county and state regulations and licensing.

Do I need prior experience to buy a laundromat?

While industry experience can be helpful, it’s not always necessary. We work with new buyers and guide you through the acquisition process to identify businesses that suit your skill set and goals.

What should I expect after the purchase? Is there any support?

We provide a transition document that the seller can complete. While simple in format, it offers significant value. It typically includes vendor and service provider contact details, along with key insights and operational nuances about the business. This document can help guide your training period discussions and help you get the most out of your time with the seller during the negotiated transition period. 

How do I ensure the laundromat I'm buying is profitable?

You will have the opportunity to conduct a thorough due diligence, reviewing financial records, utilities bills,supplier contracts, and local market conditions to confirm the business’s profitability.

Are there any hidden fees in the buying process?

Everything is fully transparent for all fees and costs involved in the buying process. The seller traditionally pays the broker fees and the buyer and seller typically split the expense of the third party closing entity. Your broker can review these items in detail as they can vary from state to state and industry type.

Beyond the initial purchase price, what other costs should I consider when buying a business?

Beyond the purchase price, you should factor in costs for security deposits for leased locations and utilities, also any desired legal and accounting services, loan closing costs (if financing), additional inventory costs, and working capital to cover initial operating expenses. The seller can often be helpful in developing a realistic budget for business related expenses.

Do laundromats have good books and records for me to review?

Some laundromat owners maintain excellent records, while others operate more as cash businesses and may have less formal documentation. Even when detailed profit and loss statements aren't available, there are still reliable ways to estimate revenue and income — for example, by reviewing utility bills, which can provide insight into machine usage and business volume.