1. Define the acquisition criteria
Set a working budget, geographic radius, preferred store size, operating involvement, and minimum lease horizon. Keep these as filters, not promises that a deal is suitable.
2. Build a candidate list
Use brokers, owner outreach, local commercial contacts, and marketplaces. Record the asking price, claimed revenue, rent, store size, machine mix, and reason for sale in one comparison sheet.
3. Run an initial screen
Calculate an owner-benefit figure from the information provided. Flag short leases, missing utility history, unusually low repair expense, unclear machine ownership, and large differences between claimed sales and deposits.
4. Review source documents
Request tax returns, bank and card statements, utility bills, payroll records, vendor invoices, leases, permits, machine records, and service history. Reconcile documents across the same monthly periods.
5. Inspect the site and systems
Visit during multiple dayparts. Inspect plumbing, drainage, gas, electrical service, HVAC, water heating, venting, roof responsibilities, accessibility, security, and the condition of each machine group.
6. Check the market
Review operating laundromats, pricing, capacity, parking, nearby housing, and public records for planned or active new projects. Future supply belongs in the same review as current competition.
Already have a laundromat in mind?
Check the local market and tracked incoming projects before you go deeper into due diligence.
Check the market before you buy7. Confirm deal and closing conditions
Use qualified legal, tax, accounting, environmental, and technical advisers where appropriate. Conditions may include lease assignment, equipment title, financing, permits, lien searches, inventory, and final record verification.