Need some guidance

[Jerad Connolly]

Hi All!

My wife and I have been looking at getting a laundromat for a while now and had even resigned ourselves to reverse engineering with starting a fluff and fold before owning a mat. Everything we found for sale just seemed so far away. Until yesterday. The laundromat that is a stones throw from our home (important when you have two kids under 4) came up for sale. The mat is a bit of a zombie with a hodge podge of machines and accessories. We received the machine count from the broker as well as the P&L statement. 13 of the 25 washers(various sizes) are at least 14 yrs old and the remaining 12(majority 30 lb machines) are only 4 yrs old. All 27 Dryers are 13 yrs old as well.

My question is.. How much do you account for equipment replacement in an offer for a run down a mat like this? We are admittedly feeling a little anxious that this might get bought from under our nose. Any guidance or advice would be very much appreciated! Thanks in advance!

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