How to Sell A Laundry BusinessGet tips on how to sell your laundry business
Sell A Laundry Business
Laundromats and coin operated laundromats are popular choices among business buyers as they often have minimal payroll expenses and can be successfully run as an absentee run business. For this to happen, it has to be profitable enough to employ staff.
Additionally, laundromats usually have predictable sales and cash flow making it an easy business to run. So when should you sell? Ideally, when sales are steady and your equipment is in good condition. The condition of a your equipment is the biggest factor in the due diligence process of selling this type of business.
Maximising Profit Before Sale Process
- Fully systemise your business.
- Keep the income of your business on an upward curve.
- Increase diversity of clients across the casual, regular and corporate sectors.
- Find ways to differentiate yourself from competitors.
- Don’t allow labour costs to get out of hand.
- Keep plant and equipment in good condition as a buyer will only deduct from price the amount of work that needs to be done to bring the business up to scratch.
- Make sure you are selling the business on its tax figures. The days of lying about your figures to the tax department are over.