Laundromats and coin operated laundries are a unique business model that can survive well in depressed economies and periods of economic growth. Populations with high rates of apartment renters and densely populated areas, like Denver and the greater state of Colorado, are good markets for laundry based businesses. Clean clothing can be considered a basic necessity of life, which makes laundromats a key component to the economic landscape in the Rocky Mountain Region and beyond.
Buying a laundromat for sale in Colorado represents an opportunity to buy into a highly established and stable industry. The laundry business is steadily growing especially in densely populated locations like the Denver Metro Area. A laundromat can offer multiple business models to a buyer including a franchise laundromat business, self-service laundry, owner-operator laundry business, and even a semi-absentee or absentee business.
The Denver business brokers with Transworld Business Advisors can help you own a laundromat by buying a laundromat business or connecting you with a laundromat franchise. The best place to learn about buying a laundromat in Colorado is to visit our Buyer FAQs page.
Laundromats and coin laundries are part of the self-service laundry business. Buying an established laundromat for sale in Colorado gives a business owner immediate access to cash flow, laundromat customers, and a steady service related business.
According to the Coin Laundry Association and our experience, laundromats for sale in Colorado can cash flow between $15,000 and $300,000 annually. This range will be based on business location, the population density in that area, and other characteristics of the location. Buying a laundry service business is a great way to tap into an existing model and focus on fine tuning the business strategy to continue to grow the revenue and expand the business.
The laundromat business model has existed for a long time and is a mature industry that is still growing. Buying a laundromat in Colorado is a great way to reap the advantages of owning a laundromat while circumnavigating the difficulties of starting up a laundry business. The advantages of buying a laundromat in Colorado include the transfer of laundry equipment like coin operated machines, an existing lease contract in Denver, Colorado, and staff or management employees.
Each business listed for sale has its own unique situation, so whether the laundry business equipment and inventory is included in the sale will depend on the specific business. Typically, with a laundromat the washer and dryer machines are leased equipment and can be assigned to the new owner as part of the sale.
Build a relationship with a broker and have a conversation about the criteria you’re looking for in the dry cleaning or laundry industry.
Be proactive in the process of finding a business for sale by searching through your brokerage firm’s listings and using listing websites. Your broker will be working in the background to identify additional opportunities that may be a fit as they come on to the market.
Sign non-disclosure agreements for businesses you’re interested in to review their executive summary and decide if you’re interested in pursuing the company.
If the business is a good fit you will meet with the seller and tour the company and if all goes well submit a letter of intent.
If the letter of intent is accepted, the deal moves into due diligence, which is essentially a research phase, and then to closing and the actual transfer of ownership.
Is it time to transfer the ownership of your laundry business to a new business owner to fulfill your plans to exit your business? Transworld has proven experience in Denver, Colorado helping owners sell their businesses. Schedule a consultation to learn how our process can help you exit your company.