Laundromat Resource › Forums › Laundromats › COVID and Its Impact on the Laundromats

last updated by Los Angeles-Orange County 5 years, 2 months ago
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    • January 21, 2021 at 6:37 pm #3527
      Frankie Riddle
      Participant

        I am interested in possibly purchasing my first laundromat; however, based on the gas bills there was approximately a 50% drop in usage. I would like to know if COVID has had an impact and if so, to what extend on laundromats during 2020. Also, it appears as though the common wording for no proof of a portion of income is “it is a cash business.” I feel that if there is no proof of all revenue, then the price should be based on actual revenue verified. Any suggestions on this as well?

        Thanks.

      • January 24, 2021 at 4:36 pm #3551
        Los Angeles-Orange County
        Participant

          Anecdotal info I have heard is a 30% to 50% drop during the darkest days with recovery now to 0% to 15% drop from a year ago. Also there is the annual cyclical drop over the summer that layered in with Covid impacts.

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      Laundromat Resource › Forums › Laundromats › COVID and Its Impact on the Laundromats