Where should I list my laundromat for sale?
You could use more than one route and match each to the kind of buyer you want. A business broker, a listing site and your equipment supplier’s network reach different people. Consider keeping the first listing anonymous, sharing details after a confidentiality agreement, and deciding when to tell attendants and regulars.
Laundromats attract a particular crowd of buyers: first-time owners looking for a business with a routine, and investors who want to own one without working in it. Where you list should follow from who you hope to reach. A listing that speaks to both, and says little that identifies the site, is a sensible place to begin.
Who tends to buy
First-time owners will want to see the machines, the routines and the staffing. A semi-absentee investor will care about who runs the site day to day and how it reports to the owner. Write your listing so each can find what they need, and be ready to show how the site runs without you on the floor.
Brokers, listing sites and suppliers
Ask whether a business broker can screen buyers and manage the conversation, and you may value that. A listing site is one route, with its own reach and timing. Your equipment distributor may also know who is looking to buy, so ask them quietly. Our guide on selling a laundromat or dry cleaning business walks through the steps.
Keeping it quiet
Attendants and regulars may worry if they hear the site is for sale. Leave out the name and address, and ask any serious buyer to sign a confidentiality agreement before you share more. A lawyer can prepare it, and a buyer who signs it can be shown more as the conversation firms up.
What the listing should show
- The type and number of machines, and how old they are.
- How the site runs day to day and who covers it.
- The lease situation, in general terms.
- Why you are selling, stated plainly.
Related reading
15 pages on the same subject, grouped by topic.
Buying
Selling
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Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentHow to minimize negotiations when selling your business
- 02Business Development Bank of CanadaGovernmentWhat is a confidential information memorandum (CIM)?
- 03Business Development Bank of CanadaGovernmentLetter of intent and confidentiality agreement for a business acquisition: What clauses should be included?
- 04Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
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