3 topics

[Jack]

Can anyone comment on the following:

- reliable distributors in the NH/MA/VT area
- leasing vs. purchasing equipment
- leasing vs. purchasing a location

Thanks!

[Jack]

Perhaps I should have introduced myself before just throwing a question out there. I'm a new member of CLA and I'm in the early stages of opening a "mat" in southwest NH.

I've been looking over past posts and haven't found anything about distributors in my area, so any help you could provide would be appreciated. Unless, of course, I need to provide you with the brand of machines I'm considering, which so far look to be Maytag, Wascomat, Huebsch, and possibly GE.

With regard to lease vs. purchasing equipment, that may not even be an option. I don't know.

And about lease vs. purchasing a location, it seems based on posts I've read, leasing sounds like a more economical solution, especially to start.

Thanks for any help you can provide. I'm sure I'll learn a lot from this bulletin board.

Jack

[mpc12]

Coin laundry operators understand vending. Any interest in having a free internet kiosk with free dsl hookup and participation in profits up to 40% at your locations?

[millenniumplus]

Jack, the intro was nice but not necessary for me. You'll find a lot of people just reading and learning from various
posts. They aren't always there to reply. Anyway, can't recommend a reliable distributor but if you are looking for
some distributors try using the "distributor locator" on this website. You may find that you don't have an option
when wanting to purchase a location. Being a landlord is big business so you may only be able to lease the location.
With equipment it can go either way. Some owners here I noticed lease equipment and many seem to purchase the
equipment. That's just my observation. I'm sure you'll get a few more replies. Hang in there and good luck!

[hotwash]

it all comes down to how much money you have. You will be much better to buy the real estate for two reasons. One you get the rent and two it is much easier to sell mat if you own building. Try www.asnlaundrygroup.com (http://www.asnlaundrygroup.com), not sure if they go that far but they build awsome stores. Do your homework, MAKE SURE THERE ARE NO HOOK-UP OR IMPACT FEES, and also if you can put in a well. If you lease you need 20 yrs min. I forget the other question you asked. resond again i will help you out if i can. Its a GREAT business, just costs alot to be able to play the game

[petefritz]

1. http://www.coinlaundry.org/distrib_mem_dir.html

2. ask your accountant if you don't know.

3. how much money you have is a big factor, the other is some locations can not be bought, ie, a store in a strip center, you can only lease.

I recomend buying an existing store and running it for awhile to learn the biz before dropping 1/2 mil on a new one that has no history and you have no clue what you are doing. The ads/seminars look great, the spreadsheets awsome, but that is not what this business is all about.

[Jack]

Thanks for your feedback. The CLA site has been a big help. I've bookmarked the ASN site too.

I'm also reading an excellent book called "Coin Laundries: Road to Financial Independence" by Emerson Higdon, well worth the price of $44.95.

There's a laundromat in a strip mall I want to purchase and according to an article on the CLA site and in the book I mentioned, existing laundries are valued based primarily on: revenues, length of lease, age/condition of the equip., leasehold improvements, vend price structures, and demographics in the region. Is this what you've found to be true?

[mrcoinop]

absolutly correct but that is just my oppinion Jack good luck in your ventures.

Ron

[change]

Check out Coinwash dot com a lot of this subject has been discussed.
You will be surprised how many members they have too.

[Jack]

Thanks for the coinwash.com suggestion. I've just joined their bulletin board. At this point I'm like a sponge absorbing as much information about this industry as I can!

[ThePoetSuede]

Do you know of a distributor for an internet kiosk that offers that kind of deal?