The questions to ask when buying a laundromat are well known and usually asked in the wrong form: as conversation. Every useful question about a laundromat has a document that answers it, and a buyer who asks for the document instead of the answer gets something they can show a lender. This page pairs each question with its paper, and shows how the free checklist sheet on this site turns the pile of requests into a chase rate against the closing date.
How much does the store take, and can you prove it?
The bank statements and the utility bills. Deposits show what reached the bank; water and gas consumption show how many loads were run. Ask for two years of both. A seller who offers a spreadsheet instead of bills has answered a different question.
How old are the machines and what has failed?
The equipment schedule with make, model, age and the service log. Ask which machines have been replaced in the last five years and which have not, and have a commercial laundry technician read the list. The replacement bill for the next two years is the buyer's, and it belongs in the working capital line of the stack.
How long can the store stay where it is?
The lease, every amendment and the assignment clause, with the landlord's position on consent. The store's earnings belong to its location, so a lease shorter than the note is a question for the lender before it is a question for the buyer. On the checklist sheet's example these items sit among 24 requests, 16 received by day 20, 8 outstanding with 40 days to close.
Questions people ask about questions to ask when buying a laundromat
Should I ask about the water rate?
Yes, and the answer is a bill, not a number. Utilities are the largest cost after rent and the one most likely to change when a municipality revises its tariff.
What about the vending and card system contracts?
Ask for the contracts. Some card systems and vending arrangements bind the store for years and take a share of revenue; they transfer with the business or they end with the seller.
Where do the answers go?
Into the register in Pro as dated items against the store, so each question has a document and each document has a date it was asked for and a date it arrived.