oohotcarameloo
New member
I am looking at two businesses to purchase as my first business.
laundromat has been in location 20 yrs,low income area,older machines.lots of room for improvement, no signs or advertisement for dry cleaning, no drop offs, or pick up. interested in putting a bill pay and little cell phone store in the laundromat, and in the future increase number of machines by installing stacked dryers. business is supposedly bringing in 3-4k profit a month.has potential of bringing in 6-8k with improvements.2 employees.
vending company-7 yrs in business, coca cola contract, 40 machines in 21 locations.would need to buy my own van truck.bringing in supposedly 3-4k a month profit.income can increase by acquiring more locations and machines.
which do you feel has more potential for success and potential for growth, less risk of failing, less stress???
they are both businesses I am looking at... are roughly the same price, laundromat is a little more expensive.
laundromat CONS I would have to deal with property owner(paying rent),employees,machines breaking,
vending CONS dealing with business owners, customers, buying/ maintaining company vehicle, driving around all day alone(boring_)
i have been researching and looking at available businesses for about 6months. these two opportunities are great. with really good roi%, its tough deciding which to choose,
laundromat has been in location 20 yrs,low income area,older machines.lots of room for improvement, no signs or advertisement for dry cleaning, no drop offs, or pick up. interested in putting a bill pay and little cell phone store in the laundromat, and in the future increase number of machines by installing stacked dryers. business is supposedly bringing in 3-4k profit a month.has potential of bringing in 6-8k with improvements.2 employees.
vending company-7 yrs in business, coca cola contract, 40 machines in 21 locations.would need to buy my own van truck.bringing in supposedly 3-4k a month profit.income can increase by acquiring more locations and machines.
which do you feel has more potential for success and potential for growth, less risk of failing, less stress???
they are both businesses I am looking at... are roughly the same price, laundromat is a little more expensive.
laundromat CONS I would have to deal with property owner(paying rent),employees,machines breaking,
vending CONS dealing with business owners, customers, buying/ maintaining company vehicle, driving around all day alone(boring_)
i have been researching and looking at available businesses for about 6months. these two opportunities are great. with really good roi%, its tough deciding which to choose,