- Required time in business: 6+ months
- Required monthly revenue: $10k+
- Min credit score: No credit needed
For many entrepreneurs, the idea of owning a laundromat is an attractive proposition. Laundromats can generate cash flow anywhere between $20,000 and $1,101,548 a year, with an average cash flow of around $153,176.85 annually.
Here are the details on the revenue and cost to acquire a laundromat, plus how to purchase a laundromat in 2024. And, we include the best financing options for funding your business.
How much does a laundromat make?
The average laundromat* has an annual net cash flow of $153,176.85. This equates to roughly $12,764.74 a month over a span of a year. However, the profitability of your laundromat business comes down to its location, size, rent, wages and more.
Chart: Cash flow range of laundromats currently listed for sale
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Laundromat Annual net cash flow 1 $20,000 2 $20,000 3 $20,205 4 $22,104 5 $23,232 6 $26,913 7 $29,188 8 $30,000 9 $30,597 10 $34,585 11 $36,288 12 $40,000 13 $41,646 14 $43,143 15 $45,899 16 $48,000 17 $48,192 18 $50,000 19 $50,000 20 $50,400 21 $51,789 22 $53,697 23 $55,000 24 $55,000 25 $56,000 26 $56,230 27 $56,460 28 $56,988 29 $57,782 30 $58,000 31 $58,716 32 $59,000 33 $59,197 34 $60,000 35 $60,000 36 $60,384 37 $61,620 38 $61,750 39 $61,993 40 $62,400 41 $63,000 42 $64,072 43 $65,000 44 $65,000 45 $67,000 46 $67,605 47 $68,000 48 $69,528 49 $70,000 50 $70,000 51 $70,291 52 $72,500 53 $74,000 54 $75,000 55 $75,000 56 $75,000 57 $75,000 58 $75,650 59 $75,711 60 $76,000 61 $77,000 62 $77,000 63 $78,120 64 $80,000 65 $80,000 66 $80,500 67 $80,974 68 $81,000 69 $81,500 70 $84,866 71 $85,000 72 $88,011 73 $89,000 74 $90,000 75 $90,000 76 $90,660 77 $95,000 78 $95,948 79 $96,000 80 $96,000 81 $96,000 82 $96,000 83 $96,300 84 $98,000 85 $99,090 86 $100,000 87 $100,000 88 $100,128 89 $100,530 90 $100,604 91 $101,000 92 $101,654 93 $101,887 94 $102,372 95 $104,000 96 $104,407 97 $106,500 98 $107,680 99 $109,000 100 $111,000 101 $113,786 102 $115,000 103 $115,764 104 $119,000 105 $119,910 106 $120,000 107 $120,642 108 $121,208 109 $121,748 110 $121,857 111 $122,256 112 $130,000 113 $130,000 114 $130,024 115 $130,466 116 $135,000 117 $136,251 118 $136,704 119 $139,781 120 $140,000 121 $143,000 122 $143,000 123 $144,036 124 $146,501 125 $149,139 126 $150,530 127 $150,680 128 $151,764 129 $159,000 130 $160,000 131 $160,000 132 $162,000 133 $162,409 134 $163,766 135 $165,000 136 $165,110 137 $167,227 138 $170,590 139 $170,850 140 $173,868 141 $175,000 142 $177,209 143 $179,000 144 $180,000 145 $180,000 146 $181,000 147 $182,000 148 $185,000 149 $186,000 150 $186,196 151 $190,000 152 $191,145 153 $195,000 154 $195,618 155 $198,271 156 $200,000 157 $200,508 158 $202,512 159 $204,000 160 $205,565 161 $205,725 162 $207,000 163 $209,671 164 $214,144 165 $214,145 166 $214,145 167 $220,000 168 $220,322 169 $220,683 170 $221,958 171 $227,816 172 $230,805 173 $233,660 174 $234,348 175 $237,355 176 $240,000 177 $240,375 178 $242,208 179 $246,009 180 $249,000 181 $250,000 182 $250,001 183 $251,337 184 $254,079 185 $264,000 186 $274,000 187 $275,000 188 $282,366 189 $310,000 190 $327,204 191 $334,740 192 $339,609 193 $359,540 194 $360,000 195 $375,000 196 $405,671 197 $406,643 198 $436,314 199 $450,000 200 $450,591 201 $480,000 202 $487,330 203 $550,000 204 $569,713 205 $670,000 206 $1,101,548
How to buy a laundromat
- Find a laundromat for sale. You can find laundromats for sale locally or online. Online you can search "laundromats for sale near me" to find a list of business or broker websites that lists laundromats for sale. It's important to also take note of your finances by knowing how much you have saved towards the purchase of a new business, as well as how much you may need to borrow to buy the business.
- Figure out what the business is worth. Use various valuation methods to get a general idea of the fair market value of the business you're trying to buy to make sure you're getting a good deal.
- Do your due diligence on owning and operating a laundromat. You'll want to weigh the pros and cons before taking the jump. Consider important factors that can affect the profitability of the business you're buying such as location, equipment, utilities and maintenance.
- Get a business loan and make an offer. Unless you have a lot of cash on hand, you'll need a business loan to finance the purchase of a laundromat. Check out our top picks of lenders for a laundromat business loan. Once you're ready to buy, contact and negotiate with the seller or agent of the business and finalize your offer. It may be helpful to have a lawyer look over any negotiations and final contracts.
Our top picks for a laundromat business loan
Best for small businesses
- Required time in business: 6+ months
- Required monthly revenue: $8k+
- Min credit score: 520+
Good for online businesses
- Required time in business: 6+ months
- Required annual revenue: $60k+
- Min credit score: 550+
Cost of buying laundromats
The average laundromat for sale costs $643,246.25*. Although prices vary widely depending on the location, the age of equipment and whether you're purchasing real estate as part of the deal. Many are listed well below the average price, and some are much higher than the average price, especially in urban locations.
With the average annual cash flow of a laundromat at $153,177, you can expect to make back your investment in roughly 4.20 years - this translates roughly to a 23.81% APY.
Chart: Cost of laundromats available for sale
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Laundromat Annual net cash flow 1 $14,950 2 $45,000 3 $49,000 4 $50,000 5 $75,000 6 $79,000 7 $89,000 8 $95,000 9 $99,000 10 $100,000 11 $109,000 12 $110,000 13 $110,000 14 $115,000 15 $115,000 16 $119,000 17 $119,000 18 $119,000 19 $120,000 20 $120,000 21 $125,000 22 $125,000 23 $125,000 24 $125,000 25 $139,000 26 $145,000 27 $149,900 28 $150,000 29 $150,000 30 $150,000 31 $150,000 32 $160,000 33 $165,000 34 $165,000 35 $175,000 36 $175,000 37 $180,000 38 $185,000 39 $187,000 40 $195,000 41 $195,000 42 $195,000 43 $200,000 44 $200,000 45 $200,000 46 $200,000 47 $200,000 48 $200,000 49 $220,000 50 $220,000 51 $225,000 52 $225,000 53 $225,000 54 $229,000 55 $229,000 56 $230,000 57 $235,000 58 $239,000 59 $240,000 60 $245,000 61 $249,000 62 $249,900 63 $249,999 64 $250,000 65 $250,000 66 $255,000 67 $275,000 68 $275,000 69 $280,000 70 $290,000 71 $293,000 72 $293,000 73 $298,000 74 $299,000 75 $299,000 76 $299,000 77 $300,000 78 $300,000 79 $300,000 80 $300,000 81 $315,000 82 $317,000 83 $319,000 84 $325,000 85 $325,000 86 $330,000 87 $332,000 88 $340,000 89 $340,000 90 $349,000 91 $350,000 92 $350,000 93 $350,000 94 $350,000 95 $350,000 96 $359,000 97 $359,000 98 $360,000 99 $365,000 100 $375,000 101 $375,000 102 $375,000 103 $380,000 104 $385,000 105 $385,000 106 $389,000 107 $394,900 108 $395,000 109 $399,000 110 $399,000 111 $399,000 112 $400,000 113 $400,000 114 $419,000 115 $425,000 116 $425,000 117 $427,000 118 $430,000 119 $435,000 120 $436,000 121 $448,000 122 $448,000 123 $450,000 124 $450,000 125 $450,000 126 $450,000 127 $450,000 128 $459,000 129 $465,000 130 $475,000 131 $475,000 132 $475,000 133 $475,000 134 $479,000 135 $480,000 136 $500,000 137 $500,000 138 $500,000 139 $550,000 140 $550,000 141 $550,000 142 $550,000 143 $555,000 144 $595,000 145 $595,000 146 $600,000 147 $600,000 148 $649,000 149 $650,000 150 $679,000 151 $699,000 152 $700,000 153 $725,000 154 $750,000 155 $750,000 156 $765,000 157 $775,000 158 $790,000 159 $799,000 160 $800,000 161 $800,000 162 $800,000 163 $830,000 164 $875,000 165 $889,500 166 $895,000 167 $898,000 168 $899,800 169 $900,000 170 $900,000 171 $900,000 172 $900,000 173 $900,000 174 $920,000 175 $950,000 176 $999,000 177 $999,999 178 $999,999 179 $999,999 180 $999,999 181 $1,100,000 182 $1,150,000 183 $1,200,000 184 $1,257,784 185 $1,390,000 186 $1,399,999 187 $1,400,000 188 $1,490,000 189 $1,500,000 190 $1,550,000 191 $1,699,000 192 $1,700,000 193 $1,700,000 194 $1,799,000 195 $1,900,000 196 $2,000,000 197 $2,100,000 198 $2,499,000 199 $2,500,000 200 $2,900,000 201 $3,100,000 202 $3,200,000 203 $3,500,000 204 $5,000,000 205 $6,000,000 206 $6,250,000
Cost, revenue and cash flow of a laundromat
The average price-to-cash flow (P/CF) ratio of a laundromat business is 4.20. The P/CF ratio measures how much cash a company generates relative to its price. You might've heard of the term price-to-earning ratio (P/E ratio) before, which is a more commonly known ratio. Essentially, this measures how much you are paying for each dollar of the company's earnings.
The average operating cash flow margin of a laundromat business is 0.32. The operating cash flow margin can be calculated by dividing operating cash flow by revenue. The operating cash flow margin reveals how effectively a company converts its sales to cash.
The average price-to-sales (P/S) ratio of a laundromat business is 74%. The P/S ratio measures the revenue of the business divided by the cost, which indicates the percentage of the revenue you are paying for the company. Typically the lower the percentage, the better. However, it's best to look at a company's P/S ratio in comparison to the P/S ratios of similar companies in the same industry.
Chart: Cost, revenue, and cash flow breakdown of the lowest priced laundromats currently listed for sale
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Laundromat Cost Revenue Cost flow 1 $14,950 $175,000 $75,000 2 $45,000 $114,665 $34,585 3 $49,000 $193,727 $53,697 4 $50,000 $60,000 $20,000 5 $75,000 $96,000 $67,605 6 $79,000 $83,712 $22,104 7 $89,000 $110,000 $30,597 8 $95,000 $95,000 $65,000 9 $99,000 $199,152 $70,291 10 $100,000 $145,525 $75,000
Chart: Cost, revenue, and cash flow breakdown of the highest priced laundromats currently listed for sale
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Laundromat Cost Revenue Cost flow 1 $6,250,000 $1,300,000 $670,000 2 $6,000,000 $645,200 $359,540 3 $5,000,000 $7,416,635 $569,713 4 $3,500,000 $604,151 $405,671 5 $3,200,000 $1,500,000 $480,000 6 $3,100,000 $3,000,000 $250,001 7 $2,900,000 $2,482,835 $436,314 8 $2,500,000 $4,000,000 $550,000 9 $2,499,000 $780,000 $450,000 10 $2,100,000 $1,008,442 $487,330
Steps to buying a laundromat
Buying this type of business involves finding one for sale, running the numbers and getting the right financing.
1. Search business listings
Start your search by Googling "laundromats for sale near me." This brings up a list of business or broker websites with this type of business for sale in your area. From there, you can search listings and contact the seller or agent to get more information. Loopnet.com, Bizbuysell.com and us.businessesforsale.com are also good places to start your search.
2. Determine what the business is worth
Determining what a business is worth is both an art and a science. While this is by no means a complete list of the valuation methods available, you can get a general idea of the fair market value of a business with these calculations.
- Times revenue method. This is calculated by taking the revenue generated by a business over a certain period times a multiplier. The multiplier depends on the industry. For example, a retail company may be valued at 2.45x revenue, while a restaurant may be valued at 2.12x revenue.
- Liquidation value. This value is calculated by adding up everything a business owns, including real estate, equipment and inventory, and then subtracting the company's liabilities and debts. This can give you a rough estimate of what a business is worth, although it doesn't take into account future earnings.
- Discounted cash flow method. This calculation is based on projections of the future cash flows of a business, then discounts them to today based on inflation. It's a complex calculation best determined by using an NPV calculator.
Always consult with a qualified financial advisor if you have questions. In particular, look for a professional with the Accredited in Business Valuation (ABV) designation, which means they specialize in business valuation.
3. Do your due diligence
In addition to understanding what a particular business is worth, it's important to take into account the pros and cons before signing on the dotted line.
Here's a list of the top factors to consider:
- Location. The most successful businesses are located in areas with a lot of retail stores and traffic. However, consider the type of customers you foresee frequenting your establishment and their specific needs.
- Equipment. If your business requires special equipment, new equipment is more expensive upfront but can bolster your bottom line with reduced energy costs, less maintenance and more customers through the door.
- Competition. Consider the local competition and what sets your business offering apart.
- Utilities. If your business relies heavily on electricity, gas, water, trash and sewage services, you'll want to analyze the availability of these services and their costs carefully.
- Insurance. This is a must-have for any public-facing business. You'll want to make sure you have sufficient coverage to pay for a range of unforeseen circumstances.
- Maintenance. Who will do the repairs, mop the floors or answer the phone? While this business can be a part-time operation, no business is maintenance-free.
- Security. Depending on the location, your business may require extra security features, like cameras.
As with any large business purchase, be sure to educate yourself thoroughly about buying and running that type of business. Many online resources are available from experts who can offer in-depth guidance for your particular industry.
4. Get financing and make an offer
Business loans come in a wide range of flavors, but the most commonly used types for buying a new business or business assets include SBA loans, like the SBA 7(a), 504 and microloan lending programs, equipment loans or personal loans. These loans are offered by banks, credit unions and online lenders.
Online business loan marketplaces like Lendio, Lendzi and Businessloans.com can also be a good place to start your search. You'll want to compare multiple loan types across several lenders to find the best deal.
How to finance a laundromat
Laundromats can be financed with these options:
- Personal finances. Cash from savings, an inheritance or from selling another business can be an ideal way to finance your purchase.
- SBA loan programs. The SBA 7(a) loan program could potentially be used to purchase this type of business. To qualify, you need to have a 700+ score, a minimum 20% down payment and financial statements from the business of interest.
- Personal loan. Because they don't have a time-in-business or revenue requirement, personal loans can be another way to finance your purchase, especially if you can get a competitive rate.
- Equipment loan. Equipment loans can sometimes be used to finance this type of business equipment, depending on the business's eligibility. But it may be trickier to get an equipment loan if your business is a mostly cash business or considered a restricted business.
Tip: If you're going for an SBA loan to purchase your business, try to find a preferred SBA lender to help push your application through faster.
Steps to get a loan for a laundromat
Here are the steps to apply for a business loan:
- Check your eligibility. This step involves checking your personal score and determining if you have any collateral to pledge if you choose a secured loan.
- Gather your documentation. These typically include bank statements, tax returns, the business's financial statements and a personal guarantee.
- Complete the application. Fill out the full application, upload documents or link your financial accounts and review the application for accuracy.
- Wait for approval and funding. Next, you need to wait for approval and funding. SBA loans can take weeks to months to process.
Where to buy a laundromat
We've found laundromats publicly listed for sale in the following states. Updated daily.
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State # of laundromats for sale Alabama 2 Arizona 10 Arkansas 1 California 3 Connecticut 3 Delaware 2 Florida 12 Georgia 3 Illinois 4 Indiana 2 Iowa 1 Kentucky 1 Maryland 3 Massachusetts 3 Michigan 1 Minnesota 2 Mississippi 1 Missouri 3 Nevada 4 New Hampshire 1 New Jersey 38 New Mexico 1 New York 100 North Carolina 3 North Dakota 1 Ohio 3 Oklahoma 1 Oregon 1 Pennsylvania 21 South Carolina 1 Tennessee 1 Texas 31 Virginia 3 Washington 1 Wisconsin 2
The annual cash flow of the laundromats range from $20,000 to $1,101,548.
Chart: Cash flow of laundromats that are currently listed for sale
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Laundromat Annual net cash flow 1 $20,000 2 $20,000 3 $20,205 4 $22,104 5 $23,232 6 $26,913 7 $29,188 8 $30,000 9 $30,597 10 $34,585 11 $36,288 12 $40,000 13 $41,646 14 $43,143 15 $45,899 16 $48,000 17 $48,192 18 $50,000 19 $50,000 20 $50,400 21 $51,789 22 $53,697 23 $55,000 24 $55,000 25 $56,000 26 $56,230 27 $56,460 28 $56,988 29 $57,782 30 $58,000 31 $58,716 32 $59,000 33 $59,197 34 $60,000 35 $60,000 36 $60,384 37 $61,620 38 $61,750 39 $61,993 40 $62,400 41 $63,000 42 $64,072 43 $65,000 44 $65,000 45 $67,000 46 $67,605 47 $68,000 48 $69,528 49 $70,000 50 $70,000 51 $70,291 52 $72,500 53 $74,000 54 $75,000 55 $75,000 56 $75,000 57 $75,000 58 $75,650 59 $75,711 60 $76,000 61 $77,000 62 $77,000 63 $78,120 64 $80,000 65 $80,000 66 $80,500 67 $80,974 68 $81,000 69 $81,500 70 $84,866 71 $85,000 72 $88,011 73 $89,000 74 $90,000 75 $90,000 76 $90,660 77 $95,000 78 $95,948 79 $96,000 80 $96,000 81 $96,000 82 $96,000 83 $96,300 84 $98,000 85 $99,090 86 $100,000 87 $100,000 88 $100,128 89 $100,530 90 $100,604 91 $101,000 92 $101,654 93 $101,887 94 $102,372 95 $104,000 96 $104,407 97 $106,500 98 $107,680 99 $109,000 100 $111,000 101 $113,786 102 $115,000 103 $115,764 104 $119,000 105 $119,910 106 $120,000 107 $120,642 108 $121,208 109 $121,748 110 $121,857 111 $122,256 112 $130,000 113 $130,000 114 $130,024 115 $130,466 116 $135,000 117 $136,251 118 $136,704 119 $139,781 120 $140,000 121 $143,000 122 $143,000 123 $144,036 124 $146,501 125 $149,139 126 $150,530 127 $150,680 128 $151,764 129 $159,000 130 $160,000 131 $160,000 132 $162,000 133 $162,409 134 $163,766 135 $165,000 136 $165,110 137 $167,227 138 $170,590 139 $170,850 140 $173,868 141 $175,000 142 $177,209 143 $179,000 144 $180,000 145 $180,000 146 $181,000 147 $182,000 148 $185,000 149 $186,000 150 $186,196 151 $190,000 152 $191,145 153 $195,000 154 $195,618 155 $198,271 156 $200,000 157 $200,508 158 $202,512 159 $204,000 160 $205,565 161 $205,725 162 $207,000 163 $209,671 164 $214,144 165 $214,145 166 $214,145 167 $220,000 168 $220,322 169 $220,683 170 $221,958 171 $227,816 172 $230,805 173 $233,660 174 $234,348 175 $237,355 176 $240,000 177 $240,375 178 $242,208 179 $246,009 180 $249,000 181 $250,000 182 $250,001 183 $251,337 184 $254,079 185 $264,000 186 $274,000 187 $275,000 188 $282,366 189 $310,000 190 $327,204 191 $334,740 192 $339,609 193 $359,540 194 $360,000 195 $375,000 196 $405,671 197 $406,643 198 $436,314 199 $450,000 200 $450,591 201 $480,000 202 $487,330 203 $550,000 204 $569,713 205 $670,000 206 $1,101,548
Sources
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Kat Aoki was a personal finance writer at Finder, specializing in consumer and business lending. She’s written thousands of articles to help consumers make better decisions on their home loans, bank accounts, credit cards, cryptocurrency and more. Kat is well versed in working with leading brands in the real estate, mortgage and personal finance industries, and her expertise has been featured on Forbes Advisor, Lifewire and financial comparison sites like iSelect and realestate.com.au. She holds a BS in business administration from California State University, Sacramento and enjoys hiking and yoga in her spare time. See full bio
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