How do I prepare my laundromat for the handover to a new owner?
Document what a new owner cannot see: each machine’s service history and quirks, the technician and parts contacts, the cash collection and count routine, admin access to the card system, drop-off and commercial customers, and introductions to attendants. A tidy pack helps closing and lets you step away with fewer calls later.
A buyer can see the machines, the floor and the sign. What they cannot see is how the place has been run. That knowledge is yours, and handing it over well is part of selling well. Written notes, routines and contacts let the buyer run it from the first morning.
The story of each machine
Keep a simple record for every washer and dryer: when it was installed if you know, repairs, parts replaced and its habits. Add the name of the technician and the parts supplier you use. If some of the equipment is leased or financed, mark it clearly and ask your lawyer how it will be handled at closing.
Money and systems
Write out how payments are collected, counted and banked. Show the buyer how the card or coin system reports sales, and plan how admin access will move to them on closing day. Let the buyer watch a collection round. Your accountant can advise on how records of past takings should be shared.
Customers and people
List any wash-and-fold, drop-off or commercial customers, and how each is handled. Introduce attendants to the buyer and agree how staff will be told. Plan a short notice to customers about the new owner. The guide on selling a convenience store shows a similar handover for another small retail business.
Agree your own role
Decide how many days you will work beside the buyer and how they can reach you afterwards. Put that in writing in the sale agreement.
Related reading
15 pages on the same subject, grouped by topic.
Selling
- GuideSelling a convenience store in Canada
- GuideSelling a butcher shop in Canada
- GuideSelling a pet supply store in Canada
- GuideSelling a café or coffee shop in Canada
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Valuation
Legal
Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentWhat are the steps to buying a business?
- 02Canadian Federation of Independent BusinessResearch dataSuccession Tsunami: Preparing for a decade of small business transitions
- 03Canada Revenue AgencyGovernmentBuying a business
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