Acquisition Checklist

Complete Laundromat Acquisition Checklist

A comprehensive checklist covering every step from initial screening to closing day. Never miss a critical item.

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Acquisition Checklist

Initial Screening

Listing matches investment criteria (price, location, size)

Must

Asking price is within budget + renovation reserves

Must

Location demographics support laundromat demand

Must

Competition analysis completed (other laundromats in area)

Should

Initial call with seller/broker completed

Must

NDA signed if required

Should

Financial Verification

3 years of tax returns reviewed

Must

24 months of bank statements analyzed

Must

Utility bills obtained and cross-referenced with revenue

Must

Revenue verification calculation completed

Must

All expense categories identified and verified

Must

True NOI calculated (not seller's version)

Must

Cash-on-cash return meets investment threshold

Must

Card/app payment processor statements reviewed (if applicable)

Should

Physical Inspection

Every washer inspected (age, condition, revenue per machine)

Must

Every dryer inspected (age, condition, lint system)

Must

Change machine / card system tested and inspected

Must

Plumbing system assessed (water heater, pipes, drains)

Must

Electrical system evaluated (panel, wiring, capacity)

Must

HVAC system checked (heating, cooling, ventilation)

Should

Roof and building envelope inspected

Should

Parking lot and exterior assessed

Should

ADA compliance verified

Must

Repair estimates obtained for major items

Must

Lease & Legal

Current lease terms reviewed thoroughly

Must

Lease assignment or new lease negotiated

Must

Rent increase schedule understood

Must

Remaining lease term is sufficient (5+ years ideal)

Must

Renewal options identified

Should

CAM and property tax obligations understood

Must

Title search completed (liens, encumbrances)

Must

Business licenses and permits verified

Must

Environmental concerns assessed

Should

Attorney has reviewed purchase agreement

Must

Operations Assessment

Current staffing model understood

Should

Employee transition plan discussed

Should

Existing service contracts reviewed

Must

Vendor relationships identified (repair, supplies)

Should

Operating hours and customer patterns analyzed

Should

Security systems evaluated

Should

Technology/payment systems assessed

Should

Deal Structure

Purchase price negotiated based on findings

Must

Financing pre-approval obtained

Must

Down payment funds verified and available

Must

Seller financing terms negotiated (if applicable)

Should

Earnest money amount agreed upon

Must

Due diligence period defined in contract

Must

Contingencies clearly stated

Must

Closing timeline established

Must

Transition/training period negotiated

Should

Pre-Closing Checklist

Final walkthrough completed (machines, inventory, condition)

All contingencies satisfied or waived

Financing fully approved and funded

Insurance policy in place effective closing date

Utility accounts ready for transfer

Lease assignment executed by landlord

All seller representations verified

Closing documents reviewed by attorney

Funds wired to escrow/title company

Post-Closing Tasks

Transfer utility accounts to your name

Update business licenses and permits

Set up merchant accounts for payments

Notify insurance company of ownership transfer

Meet with employees (if retaining staff)

Introduce yourself to neighboring businesses

Begin transition training with seller

Implement your operational procedures

Set up bookkeeping and accounting systems

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