TRY this again I am looking at a closed mat with good demographics. 3000 ft only planning to open up using 1700 feet rent is $3,500 . the mat was doing an average of 13,000 gross before closing he was paying 4,300 for rent old mix matched washers single pocket dryers. No ac. not very friendly . the mall it is in is only 80% occupied Food lion, family dollar, and pawn shop , with a nail and drycleaners . My calculations at 25% would mean need gross of $ 14,000 to break even. the closest mat is across street bad shape. there is one 1.8 miles away and is run very well gross around 25,000. Not sure if I should take the risk at this time . I would probably go with a card system . Any Opinions
So your question is: Will this place do $14,000 monthly gross sales using just 1700 sf when it use to do $13,000 monthly gross sales occupying 3,000 sf ?
Well, I think it DEPENDS on a number of factors. First, just how good are those demographics? Will your vend prices be higher than that charged by the previous owner? Will you have friendly attendants and A/C? Are you planning to install all new equipment? Will the guy across the street decide to rehab his place when you buy this one? Will he lower his prices instead of rehabbing? All of these factors will play a role in determining whether your new 1700 sf laundromat can produce gross sales of $14,000.
You must evaluate what YOU are able to do and then evaluate what you think Mr Competitor will do. Good luck.
"Lead, follow or get out of the way." Larry Adamski