FREE BUYER CHECKLIST
Buying a Laundromat Checklist
Use this 30-point checklist to organize your first review of a laundromat acquisition—from the seller’s financial claims to the lease, equipment, financing and final due diligence.
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IMPORTANT
This checklist is a screening and organization tool, not a substitute for professional due diligence. The exact documents, inspections and professional reviews required will depend on the business and transaction.
1. Seller & Business Background
- ☐ Confirm why the owner is selling.
- ☐ Determine how long the seller has owned the laundromat.
- ☐ Document how many hours the owner personally works each week.
- ☐ Identify tasks currently performed by the owner.
- ☐ Ask what the seller would improve if they were keeping the business.
2. Revenue Verification
- ☐ Obtain revenue history for at least the available recent years.
- ☐ Request business tax returns and financial statements.
- ☐ Review business bank deposits.
- ☐ Review card, app or electronic-payment reports.
- ☐ Understand how coin and other cash collections are recorded.
Goal: determine whether multiple forms of evidence tell a consistent revenue story.
3. Operating Expenses
- ☐ Obtain water and sewer bills.
- ☐ Obtain gas and electricity bills.
- ☐ Verify current rent and CAM charges.
- ☐ Review payroll and payroll-related expenses.
- ☐ Identify repairs, insurance, processing fees and other recurring operating expenses.
4. Equipment & Capital Expenditures
- ☐ Create a complete washer and dryer inventory.
- ☐ Record manufacturer, model, size and approximate installation year.
- ☐ Review available maintenance and repair history.
- ☐ Identify machines with recurring failures or deferred repairs.
- ☐ Estimate equipment that may require replacement after acquisition.
5. Lease & Location
- ☐ Review the full current lease and all amendments.
- ☐ Confirm remaining lease term and renewal options.
- ☐ Identify scheduled rent increases.
- ☐ Review assignment and landlord-approval requirements.
- ☐ Understand tenant responsibilities for building systems, maintenance and utilities.
6. Valuation & Financing
- ☐ Recalculate normalized SDE or cash flow rather than relying on the seller’s number.
- ☐ Calculate the asking-price multiple on normalized earnings.
- ☐ Model the required down payment and total cash investment.
- ☐ Calculate expected debt service.
- ☐ Calculate post-debt cash flow and cash-on-cash return.
Your 30-Point Laundromat Buyer Checklist
| # | Check | Buyer Task |
|---|---|---|
| 1 | ☐ | Understand why the laundromat is for sale. |
| 2 | ☐ | Document the seller’s weekly involvement. |
| 3 | ☐ | Identify owner-performed tasks. |
| 4 | ☐ | Review recent business tax returns. |
| 5 | ☐ | Review profit-and-loss statements. |
| 6 | ☐ | Review business bank activity. |
| 7 | ☐ | Review card/app/payment-system reports. |
| 8 | ☐ | Understand how cash revenue is recorded. |
| 9 | ☐ | Review water and sewer bills. |
| 10 | ☐ | Review gas and electricity bills. |
| 11 | ☐ | Rebuild normalized operating expenses. |
| 12 | ☐ | Review payroll and owner labor replacement. |
| 13 | ☐ | Create a complete equipment inventory. |
| 14 | ☐ | Record equipment age and condition. |
| 15 | ☐ | Review repair and maintenance history. |
| 16 | ☐ | Estimate near-term equipment replacement costs. |
| 17 | ☐ | Review the current lease and amendments. |
| 18 | ☐ | Confirm remaining lease control. |
| 19 | ☐ | Review scheduled rent escalations. |
| 20 | ☐ | Review assignment and landlord requirements. |
| 21 | ☐ | Inspect the physical store and major systems. |
| 22 | ☐ | Evaluate the surrounding trade area and competition. |
| 23 | ☐ | Calculate normalized SDE or operating cash flow. |
| 24 | ☐ | Calculate the seller’s asking earnings multiple. |
| 25 | ☐ | Compare valuation with relevant transaction benchmarks. |
| 26 | ☐ | Model down payment, loan amount and debt service. |
| 27 | ☐ | Calculate post-debt cash flow. |
| 28 | ☐ | Calculate cash-on-cash return and payback. |
| 29 | ☐ | Maintain enough working capital after closing. |
| 30 | ☐ | Complete legal, accounting and professional due diligence before closing. |
DO YOU HAVE A DEAL TO ANALYZE?
A checklist tells you what to investigate. The numbers tell you whether the deal works.
Use our free calculator to model operating profit, financing, cash flow, cash-on-cash return and payback.
Before you meet the seller
Use our companion resource to prepare the questions you’ll want answered before moving into deeper due diligence.
Disclaimer: This checklist is provided for educational purposes only and does not constitute financial, investment, legal, accounting, lending or tax advice. Every acquisition is different. Buyers should conduct independent due diligence and obtain appropriate professional advice before completing a transaction.