Buying a secondhand business might be the best or the worst options.
You must study the history and the previous owner must reveal to you his accounts (fake or not, nobody knows). Know their attitudes towards their customers, know their machines, know their location. Only buy the business if it is very good including the condition of the machines and references of whom you have to call if there's any breakdown and the reason of the previous owner selling is it because he/she is moving away following wife/husband/family or whatever (roughly 95% of previous business owners like to cheat on this part as well as the account part).
If the previous owner wants to sell the business with no proper or concrete reason, just forget about it. To stay safe, open a new one with brand new machines. If no capital, don't start. This does not apply to laundry only but to all other businesses.
Added on April 3, 2009, 6:05 pmI am not quite into Smart Wash or any other self service laundry. But I know somebody who deals with it from several other forums. Self service laundry have advantages and disadvantages.
Advantage : No need monitoring, just come and collect the collections.
Disadvantage : No guarantee on how quick the after sales services will be, nobody calls you when it breaks down, people will put extra weight that might damage the motor, vandalism, coin box will be torn apart just like what happened to my campus several years ago.
just my 2cents, I really don't know actually
true enough. You must be very careful when buying over a biz. A good one will make your biz journey a lot more easier. A bad one will make you plenty of losses.
am_eniey has a lot of good points there. IMO, points ppl often overlook is the behaviour of the previous owner, how they treat their customer. Because if they din treat their customer right, they are going to create a bad name for themselves around the neighbourhood.
Apr 3 2009, 11:45 AM
Quote
0.0166sec
0.59
6 queries
GZIP Disabled