: Compare the owner's P&L statements against their tax filings. Discrepancies here are a major red flag.
: Request at least 12–24 months of water, gas, and electricity bills. Since laundromats are cash businesses, utility usage is the most accurate way to verify reported income. buying a laundromat checklist
: Determine if the business is "attended" or "unattended." If there are employees, review their pay rates and reliable history. : Compare the owner's P&L statements against their
Buying a laundromat can be a stable "recession-proof" investment, but success depends on careful due diligence regarding equipment, location, and financial transparency. Use this checklist to evaluate a potential acquisition. 1. Financial Performance & Records Since laundromats are cash businesses, utility usage is
: Search platforms like Google Maps or Yelp to see common complaints. Recurring issues with "broken machines" or "dirtiness" provide an immediate opportunity for you to improve the business. 5. Growth Potential
: Verify rent, insurance, property taxes (if NNN), and any existing service contracts for trash or security. 2. Equipment & Infrastructure