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Tub washers made of porcelain or copper were replaced by sleek stainless steel top-load and front-load electric machines in the 1950s and 1960s.Large, power-consuming machines were ousted by energy-efficient, low water washers.Locations near colleges and universities are also attractive, with the vast majority of students using the services of a laundromat.
With all of these tips come the caution of due diligence: A potential buyer will want to check everything thoroughly; talk to multiple owners, consult relevant professionals, like real estate agents, laundry machine maintenance and repair companies and experts and others.
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Use this checklist as a guide for what to expect when buying a laundromat.
The first laundromats were geared toward self-service—which was a change from the earlier commercial companies that laundered, folded, and pressed clothing as a complete service—which means customers paid by the hour to wash their clothing using early electric coin-operated washing machines.
These coin-operated laundry machines enabled those who were affected by the Depression and couldn’t afford personal washing machines another option: deposit a few coins and rent a washing machine for a period of time.If you’re thinking of buying a laundromat, it’s best to research what to expect in the buying process, management duties, and to add up the potential expenses, costs and bills along the way.We’ve created this checklist of 6 items to cover in detail when buying a laundromat.If you get a great deal on a store, there may be a reason the owner is selling so low.If the store is just barely hanging on, rundown with equipment in disrepair, completely revitalizing and renovating the laundromat could turn the former derelict store into a profitable business, buzzing with constant activity and foot traffic.Multi-Housing facilities and apartment complexes usually have community area laundry rooms, but many residents are loyal to local laundromats.These types of residents that are spread across a sprawling multi-family property are the perfect demographic.Even considering these new trends in the laundry industry, the basic model of the self-service laundry industry has remained the same as it was over 80 years ago.Many things relating to the business model of laundromats has changed, however, including a higher return on investment with these more customer-oriented ancillary services and the ability for many owners to self-manage their stores remotely as absentee owners.If you’re asking yourself if you should purchase a laundromat, this 6 point checklist will help you determine whether or not it’s the right investment for you.The first laundromat, then called a “Wash-a-teria”, opened its doors in Ft. Soon, the popularity of laundromats exploded and storefronts spread across the country.