@Leah Stuever
Look into the coin laundry association website. They have great valuation metrics.
I own two laundromats and being a cash business, do not trust the current owners financial claims in my opinion. It is an extremely water dependent business, so an easy way to determine turns per day on an older mat, is to look at the water bill. The water company will actually print you the water usage amount and you can calculate usage from there, often times without the owners permission as it is just numbers.
Example:
10 washers at $2.5 that use 21 gallons per load
5 washers at $4.00 that use 18 gallons per load
So in this example:
67% of washers use 21 gallons
33% of washers use 18 gallons
Water department says avg 10,000 gallons per month
So:
67% = 6,700 gallons/21=319 loads x $2.5 = $798
33% = 3,300 gallons/18=183 loads x $4 = $733
According to coin laundry association dryer revenue is at least 50% of washers. (Mine is actually floating at a solid 75% of washer revenue) so dryers at 75% would be = 1,148
Making estimated monthly income in this scenario= $2,675
Obviously this method has flaws, such as if 50% of customers use the $4 washers, it may result in a higher or lower income, but it is a pretty easy method to quickly calculate an estimate of income, also the owner can’t claim more income than he has water usage, for example if all customers in this scenario used the $4 washers and he had a 100% dryer to washer income rate his nearly max income would be, $4,444 per month, so if he claims 6k you can check that water bill and be like “uh-uh”!
