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Re: If you're looking to buy a...
[Re: BigPig]
#9101258
09/01/24 10:59 PM
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Joined: Dec 2009
Posts: 10,345
The Dude Abides
OP
THF Celebrity
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OP
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Joined: Dec 2009
Posts: 10,345 |
...business, what would you buy?
We are looking at a couple of laundromats and/or a car wash.
Thoughts? Why do you need the launder money is the real question here? Both of those businesses are typically only profitable if you’re… rarely are they profitable. I’d look for a vape/smoke shop. Those rarely go under unless your staff sucks or you use your own product extensively. You've been watching to many movies/TV shows. Machines today are computers, collect data and work from not only cash but credit cards and payment apps. Not really interested in vape shops, there are 10 on every corner. Storage facility would be an option but those rarely come up for sale and we don't want to build a new one. We just received the financials for the last 10 years. The CPA (wife) is reviewing through them to find red flags. Both buildings are owned, not leased. Coin operated car wash is adjacent to one laundromat and is a purchase option.
Last edited by The Dude Abides; 09/01/24 11:00 PM.
I am still looking for the perfect apron, one with reinforced knee areas would be perfect.
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Re: If you're looking to buy a...
[Re: The Dude Abides]
#9101270
09/01/24 11:20 PM
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Joined: Oct 2012
Posts: 26,728
Creekrunner
THF Celebrity
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THF Celebrity
Joined: Oct 2012
Posts: 26,728 |
So the CPA is telling you to get business advice on a hunting forum? I'd fire my accountant.
...and have dominion over the fish of the sea, and over the fowl of the air, and over every living thing that moveth upon the earth. Gen. 1:28
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Re: If you're looking to buy a...
[Re: The Dude Abides]
#9101276
09/01/24 11:42 PM
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Joined: Aug 2012
Posts: 15,801
TexFlip
THF Celebrity
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THF Celebrity
Joined: Aug 2012
Posts: 15,801 |
One graveyard shift we devised a scheme to buy a laundry mat and only take prepaid cards. We would make the minimum card amount higher than the cheapest laundry service and also not divisible by any combo of services. The hope was that people would leave small amounts of cash on their accounts and never use the service. Bonus money.
Just to make sure that it is done thoroughly, I go both ways.
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Re: If you're looking to buy a...
[Re: Creekrunner]
#9101277
09/01/24 11:44 PM
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Joined: Dec 2009
Posts: 10,345
The Dude Abides
OP
THF Celebrity
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OP
THF Celebrity
Joined: Dec 2009
Posts: 10,345 |
So the CPA is telling you to get business advice on a hunting forum? I'd fire my accountant. Asinine comment but that's expected from you.
I am still looking for the perfect apron, one with reinforced knee areas would be perfect.
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Re: If you're looking to buy a...
[Re: The Dude Abides]
#9101299
09/02/24 12:38 AM
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Joined: Oct 2012
Posts: 26,728
Creekrunner
THF Celebrity
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THF Celebrity
Joined: Oct 2012
Posts: 26,728 |
Again with the rapier wit.
...and have dominion over the fish of the sea, and over the fowl of the air, and over every living thing that moveth upon the earth. Gen. 1:28
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Re: If you're looking to buy a...
[Re: The Dude Abides]
#9101362
09/02/24 03:24 AM
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Joined: Aug 2009
Posts: 23,227
BigPig
THF Celebrity
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THF Celebrity
Joined: Aug 2009
Posts: 23,227 |
...business, what would you buy?
We are looking at a couple of laundromats and/or a car wash.
Thoughts? Why do you need the launder money is the real question here? Both of those businesses are typically only profitable if you’re… rarely are they profitable. I’d look for a vape/smoke shop. Those rarely go under unless your staff sucks or you use your own product extensively. You've been watching to many movies/TV shows. Machines today are computers, collect data and work from not only cash but credit cards and payment apps. Not really interested in vape shops, there are 10 on every corner. Storage facility would be an option but those rarely come up for sale and we don't want to build a new one. We just received the financials for the last 10 years. The CPA (wife) is reviewing through them to find red flags. Both buildings are owned, not leased. Coin operated car wash is adjacent to one laundromat and is a purchase option. No TV shows, almost 19 years of police work has led me to that conclusion. But who cares about experience
Wade Dews, REALTOR ® Rendon Realty, LLC Frontline Real Estate Team www.RendonRealty.comWadeDews@gmail.com 214-356-2410 Up to 1% for closing costs for First Responders & Veterans Proudly partnered with Assist The Officer Foundation https://atodallas.org/
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Re: If you're looking to buy a...
[Re: BigPig]
#9101367
09/02/24 04:20 AM
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Joined: May 2015
Posts: 81
MrWood
Outdoorsman
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Outdoorsman
Joined: May 2015
Posts: 81 |
...business, what would you buy?
We are looking at a couple of laundromats and/or a car wash.
Thoughts? Why do you need the launder money is the real question here? Both of those businesses are typically only profitable if you’re… rarely are they profitable. I’d look for a vape/smoke shop. Those rarely go under unless your staff sucks or you use your own product extensively. You've been watching to many movies/TV shows. Machines today are computers, collect data and work from not only cash but credit cards and payment apps. Not really interested in vape shops, there are 10 on every corner. Storage facility would be an option but those rarely come up for sale and we don't want to build a new one. We just received the financials for the last 10 years. The CPA (wife) is reviewing through them to find red flags. Both buildings are owned, not leased. Coin operated car wash is adjacent to one laundromat and is a purchase option. No TV shows, almost 19 years of police work has led me to that conclusion. But who cares about experience You’re showing your arse here. I’m a carwash owner and have been working in the industry for over 20 years. Any functioning and well kept carwash is not a front for anything. They make money by providing a service the public wants. No owner I’ve ever met would be caught dead getting in bed with that kind of crap. We all actually rely on you guys(police) to help us keep our place on the up and up and not have it turn into a drug dealers place of business. On the other side of the coin, if it’s run down, and people camped out in the bays shooting up, then you may be right But you should be mindful of painting people you don’t know with such a broad brush.
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Re: If you're looking to buy a...
[Re: The Dude Abides]
#9101383
09/02/24 10:30 AM
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Joined: Sep 2004
Posts: 13,218
RedRanger
THF Celebrity
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THF Celebrity
Joined: Sep 2004
Posts: 13,218 |
[quote=BigPig]
Definitely.
In my case, being very rural, I could also make a whole lot of money storing boats and travel trailers. Gravel and steel roofs fetch high rent. Nobody want to drive out to the sticks to store boats or even trailers. You need to be in the city where you can't park a boat or trailer in your driveway. Shut up dumbazz. Me being "in the sticks" is also 15 minutes from a future boat ramp on Lake Ralph Hall. If I sell it all, I'll be a multimillionaire. While you're riding your bicycle in the way of people trying to drive their cars to work, in Frisco. Once again nobody want to store a boat out in the sticks. They want their boat near them, I guess you never owned a boat. You were saying boats and travel trailers and now you are changing your story. Those storage units out by the lakes are usually have no power and the facilities don't have concrete and just gravel drives and then seem to get broken into as well. Like I said you need to get storage units inside cities, and fast growing cities where you put up the cash and wait for a while. You gonna need more bucks than you think to build one. I had land in Aubrey near boat ramps on Ray Roberts, just because you have land close doesn't mean there will be major roads, most people take their boats with them to a lake. Lake Ralph Hall will be a small lake under 8,000 acres it won't see much traffic where it is located.
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Re: If you're looking to buy a...
[Re: Creekrunner]
#9101385
09/02/24 10:31 AM
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Joined: Sep 2004
Posts: 13,218
RedRanger
THF Celebrity
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THF Celebrity
Joined: Sep 2004
Posts: 13,218 |
So the CPA is telling you to get business advice on a hunting forum? I'd fire my accountant.
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Re: If you're looking to buy a...
[Re: The Dude Abides]
#9101386
09/02/24 10:34 AM
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Joined: Sep 2004
Posts: 13,218
RedRanger
THF Celebrity
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THF Celebrity
Joined: Sep 2004
Posts: 13,218 |
...business, what would you buy?
We are looking at a couple of laundromats and/or a car wash.
Thoughts? Problems with those two is they are few and far between, and then finding someone willing to sell a cash business like that is the other issue. Already found them. I assume you don't try to run them yourself How many people do you have to hire for a carwash to service it? One I know of the guy is out there quit a bit working on it, changing hoses, cleaning up dirt in the stalls, he is retired older cat.
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Re: If you're looking to buy a...
[Re: The Dude Abides]
#9101402
09/02/24 12:20 PM
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Joined: Oct 2006
Posts: 18,844
ducknbass
THF Celebrity
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THF Celebrity
Joined: Oct 2006
Posts: 18,844 |
Laundromat from what I’ve read is the highest success rate business.
I’ve know a few guys that have owned car washes and none regretted it. Friend of mine knows a guy that owns a couple car washes and a laundromat and says he’d sale his car washes tomorrow but that laundromat you ain’t got enough money.
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Re: If you're looking to buy a...
[Re: Ramsey]
#9101412
09/02/24 01:02 PM
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Joined: Jan 2008
Posts: 1,253
batman
Pro Tracker
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Pro Tracker
Joined: Jan 2008
Posts: 1,253 |
I wouldnt buy a business!!! Be a hard momey lender fir the Pig on here!!! 12% plus some fees while the money is out!! Please tell me more, or is this some sort of dig at the Pig?
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Re: If you're looking to buy a...
[Re: MrWood]
#9101419
09/02/24 01:17 PM
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Joined: Oct 2012
Posts: 26,728
Creekrunner
THF Celebrity
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Joined: Oct 2012
Posts: 26,728 |
...and not have it turn into a drug dealers place of business. On the other side of the coin, if it’s run down, and people camped out in the bays shooting up... Welcome to the 2 in Junction. One guy tries, but the other one you'd swear is abandoned and out of business. It's not. The 1 in Menard is the same. Trashy, trashy people. The concept of putting money BACK IN a business to maintain it and improve it is totally lost on some people.
Last edited by Creekrunner; 09/02/24 01:27 PM.
...and have dominion over the fish of the sea, and over the fowl of the air, and over every living thing that moveth upon the earth. Gen. 1:28
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Re: If you're looking to buy a...
[Re: ducknbass]
#9101424
09/02/24 01:49 PM
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Joined: Aug 2005
Posts: 32,960
txtrophy85
THF Celebrity
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THF Celebrity
Joined: Aug 2005
Posts: 32,960 |
Laundromat from what I’ve read is the highest success rate business.
I’ve know a few guys that have owned car washes and none regretted it. Friend of mine knows a guy that owns a couple car washes and a laundromat and says he’d sale his car washes tomorrow but that laundromat you ain’t got enough money. How much can a laundromat make is my question? The “you ain’t got enough money” comment I find to be a bit exaggerated, you’re dealing with a limited market and consumer. I would be interested in seeing his P&L, I bet the numbers are nowhere near as impressive as you think. We have looked at buying several businesses ( and own as previously mentioned a tanning salon) and none produce the income that, in my opinion, is worth the effort. One of my friends and clients built on his land a boat and RV slips and is making around $70k/year combined. We have looked at other boat/mini storages but have not found one that gave the return we were looking for after build out/renovation costs. Imo where you make your money on a storage facility is when you sell it. I’ve known some anytime fitness’s to be profitable, but you have to lease a space in a good location.
For it is not the quarry that we truly seek, but the adventure.
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Re: If you're looking to buy a...
[Re: RedRanger]
#9101458
09/02/24 02:58 PM
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Joined: Dec 2009
Posts: 10,345
The Dude Abides
OP
THF Celebrity
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OP
THF Celebrity
Joined: Dec 2009
Posts: 10,345 |
...business, what would you buy?
We are looking at a couple of laundromats and/or a car wash.
Thoughts? Problems with those two is they are few and far between, and then finding someone willing to sell a cash business like that is the other issue. Already found them. I assume you don't try to run them yourself How many people do you have to hire for a carwash to service it? One I know of the guy is out there quit a bit working on it, changing hoses, cleaning up dirt in the stalls, he is retired older cat. Running your mouth out your azz again. RIF...tool bag!
I am still looking for the perfect apron, one with reinforced knee areas would be perfect.
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Re: If you're looking to buy a...
[Re: The Dude Abides]
#9101460
09/02/24 03:04 PM
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Joined: Oct 2006
Posts: 18,844
ducknbass
THF Celebrity
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THF Celebrity
Joined: Oct 2006
Posts: 18,844 |
Yes, I am sure when he states that you don’t have enough money he’s being a bit exaggerative. But I think it does show that there’s money there. I would think laundromats are good in a few different locations but rurally like I live the amount of RV parks that spring up every year is baffling. It seems like anywhere just outside of the DFW area there’s two or three new RV parks in every corner of the county every year. I bet the majority of those do not have washer and dryer in their RV. I know that the town next to us there was a building that was three or four different businesses when we first moved in and it’s been a laundromat for about five now.With just about any business, I would think the big money does come in the sale.
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Re: If you're looking to buy a...
[Re: ducknbass]
#9101468
09/02/24 03:22 PM
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Joined: Aug 2005
Posts: 32,960
txtrophy85
THF Celebrity
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THF Celebrity
Joined: Aug 2005
Posts: 32,960 |
Yes, I am sure when he states that you don’t have enough money he’s being a bit exaggerative. But I think it does show that there’s money there. I would think laundromats are good in a few different locations but rurally like I live the amount of RV parks that spring up every year is baffling. It seems like anywhere just outside of the DFW area there’s two or three new RV parks in every corner of the county every year. I bet the majority of those do not have washer and dryer in their RV. I know that the town next to us there was a building that was three or four different businesses when we first moved in and it’s been a laundromat for about five now.With just about any business, I would think the big money does come in the sale. I would ask him and see what his monthly gross is, I’d be interested to know. I can’t see where laundromat can pull in more than 30 to 40 K a year when it’s all said and done. RV parks are cyclical, summer full one year and then the next year they are bust. Clients of mine own some down in three rivers when the field was booming and they were at max capacity for about five years, the bust came and the next year they had about 10% occupancy and that trend has been going on ever since.
For it is not the quarry that we truly seek, but the adventure.
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Re: If you're looking to buy a...
[Re: ducknbass]
#9101478
09/02/24 03:45 PM
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Joined: Apr 2005
Posts: 20,993
TurkeyHunter
determined
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determined
Joined: Apr 2005
Posts: 20,993 |
Yes, I am sure when he states that you don’t have enough money he’s being a bit exaggerative. But I think it does show that there’s money there. I would think laundromats are good in a few different locations but rurally like I live the amount of RV parks that spring up every year is baffling. It seems like anywhere just outside of the DFW area there’s two or three new RV parks in every corner of the county every year. I bet the majority of those do not have washer and dryer in their RV. I know that the town next to us there was a building that was three or four different businesses when we first moved in and it’s been a laundromat for about five now.With just about any business, I would think the big money does come in the sale. A lot of RV parks have washers/dryers available on the property. That's one of our requirements unless we are just passing through for a night or two. However, some of them catering to oilfield workers might be full hookups only.
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Re: If you're looking to buy a...
[Re: txtrophy85]
#9101479
09/02/24 03:46 PM
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Joined: Aug 2009
Posts: 23,227
BigPig
THF Celebrity
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THF Celebrity
Joined: Aug 2009
Posts: 23,227 |
Yes, I am sure when he states that you don’t have enough money he’s being a bit exaggerative. But I think it does show that there’s money there. I would think laundromats are good in a few different locations but rurally like I live the amount of RV parks that spring up every year is baffling. It seems like anywhere just outside of the DFW area there’s two or three new RV parks in every corner of the county every year. I bet the majority of those do not have washer and dryer in their RV. I know that the town next to us there was a building that was three or four different businesses when we first moved in and it’s been a laundromat for about five now.With just about any business, I would think the big money does come in the sale. I would ask him and see what his monthly gross is, I’d be interested to know. I can’t see where laundromat can pull in more than 30 to 40 K a year when it’s all said and done. RV parks are cyclical, summer full one year and then the next year they are bust. Clients of mine own some down in three rivers when the field was booming and they were at max capacity for about five years, the bust came and the next year they had about 10% occupancy and that trend has been going on ever since. I’ve been wanting an RV park for a while, and to help make it successful it needs to be multi use. There will be tiny homes, both short and long term tenants, along with a trailer/boat storage out of sight of the park for that year around income. Finding the right property that isn’t a cleared off pasture has been the hardest part.
Wade Dews, REALTOR ® Rendon Realty, LLC Frontline Real Estate Team www.RendonRealty.comWadeDews@gmail.com 214-356-2410 Up to 1% for closing costs for First Responders & Veterans Proudly partnered with Assist The Officer Foundation https://atodallas.org/
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Re: If you're looking to buy a...
[Re: txtrophy85]
#9101480
09/02/24 03:46 PM
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Joined: Apr 2007
Posts: 61,882
BOBO the Clown
kind of a big deal
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kind of a big deal
Joined: Apr 2007
Posts: 61,882 |
Yes, I am sure when he states that you don’t have enough money he’s being a bit exaggerative. But I think it does show that there’s money there. I would think laundromats are good in a few different locations but rurally like I live the amount of RV parks that spring up every year is baffling. It seems like anywhere just outside of the DFW area there’s two or three new RV parks in every corner of the county every year. I bet the majority of those do not have washer and dryer in their RV. I know that the town next to us there was a building that was three or four different businesses when we first moved in and it’s been a laundromat for about five now.With just about any business, I would think the big money does come in the sale. I would ask him and see what his monthly gross is, I’d be interested to know. I can’t see where laundromat can pull in more than 30 to 40 K a year when it’s all said and done. RV parks are cyclical, summer full one year and then the next year they are bust. Clients of mine own some down in three rivers when the field was booming and they were at max capacity for about five years, the bust came and the next year they had about 10% occupancy and that trend has been going on ever since. A few do, location around government subsidized multiple family units is key, I tried to buy one a while back, it wasn’t exactly for sale. they wanted 8x EBIDA. I offered 5x they said no,
Bottom line, never trust a man whose uncle was eaten by cannibals.-Sen Joni Ernst
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Re: If you're looking to buy a...
[Re: batman]
#9101481
09/02/24 03:47 PM
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Joined: Aug 2009
Posts: 23,227
BigPig
THF Celebrity
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THF Celebrity
Joined: Aug 2009
Posts: 23,227 |
I wouldnt buy a business!!! Be a hard momey lender fir the Pig on here!!! 12% plus some fees while the money is out!! Please tell me more, or is this some sort of dig at the Pig? Not a dig. I’m always looking for private money lenders for my flips and BRRR’s, and now new construction homes.
Wade Dews, REALTOR ® Rendon Realty, LLC Frontline Real Estate Team www.RendonRealty.comWadeDews@gmail.com 214-356-2410 Up to 1% for closing costs for First Responders & Veterans Proudly partnered with Assist The Officer Foundation https://atodallas.org/
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Re: If you're looking to buy a...
[Re: The Dude Abides]
#9101500
09/02/24 04:20 PM
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Joined: Jun 2011
Posts: 36,127
Buzzsaw
THF Celebrity
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THF Celebrity
Joined: Jun 2011
Posts: 36,127 |
On the other side of the coin, if it’s run down, and people camped out in the bays shooting up, then you may be right But you should be mindful of painting people you don’t know with such a broad brush.
Perfect description of ANY coin-op business. Sooner or later, it will become a target rich environment.
SPACE FOR RENT
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Re: If you're looking to buy a...
[Re: BigPig]
#9101501
09/02/24 04:21 PM
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Joined: Jun 2011
Posts: 36,127
Buzzsaw
THF Celebrity
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THF Celebrity
Joined: Jun 2011
Posts: 36,127 |
Yes, I am sure when he states that you don’t have enough money he’s being a bit exaggerative. But I think it does show that there’s money there. I would think laundromats are good in a few different locations but rurally like I live the amount of RV parks that spring up every year is baffling. It seems like anywhere just outside of the DFW area there’s two or three new RV parks in every corner of the county every year. I bet the majority of those do not have washer and dryer in their RV. I know that the town next to us there was a building that was three or four different businesses when we first moved in and it’s been a laundromat for about five now.With just about any business, I would think the big money does come in the sale. I would ask him and see what his monthly gross is, I’d be interested to know. I can’t see where laundromat can pull in more than 30 to 40 K a year when it’s all said and done. RV parks are cyclical, summer full one year and then the next year they are bust. Clients of mine own some down in three rivers when the field was booming and they were at max capacity for about five years, the bust came and the next year they had about 10% occupancy and that trend has been going on ever since. I’ve been wanting an RV park for a while, and to help make it successful it needs to be multi use. There will be tiny homes, both short and long term tenants, along with a trailer/boat storage out of sight of the park for that year around income. Finding the right property that isn’t a cleared off pasture has been the hardest part. dont forget mini golf, its all the rage these days.
SPACE FOR RENT
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Re: If you're looking to buy a...
[Re: The Dude Abides]
#9101506
09/02/24 04:34 PM
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Joined: Jul 2019
Posts: 15,069
Hudbone
THF Celebrity
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THF Celebrity
Joined: Jul 2019
Posts: 15,069 |
What about ice machines? Good cash flows and excellent tax advantages.
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