It’s easy to understand how new laundry equipment can make a store operator’s day-to-day life so much easier. However, new washers and dryers also can help owners ramp up the asking price for their businesses when it finally comes time to sell.
This month, an all-star panel of industry experts – featuring Brian Wallace, president and CEO of the Coin Laundry Association; Rex Anderson, controller from Lakeside Laundry Equipment; and Tony Regan, senior vice president at Eastern Funding; along with moderator Cody Pearce of Nelson Schmidt – share their thoughts on how an equipment retool before putting a store up for sale can significantly increase the value of that operation.
Specifically, the panelists discuss:
- The newer the equipment, the more favorable the store valuation formulas.
- Most stores are valued on a multiple of the net income, which is greatly enhanced by newer machines that command higher vend prices and cost less to operate.
- Most buyers are seeking laundromats with the newest equipment possible.
- A laundromat with the very latest washers and dryers is sure to stand out from the rest of the stores for sale within its marketplace.
View a video of this roundtable discussion and learn more about how increasing the presale value of a laundromat is one of the key benefits of retooling your store with new washers and dryers.