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How to finance a Coin Laundry

Typically, a coin laundry is valued at 3-5 times the net profit depending on many factors. Some factors include the length of the lease, condition of the equipment, and location. Financing is available to buyers. Many financing opportunities are available to buyers:

Seller Financing — it is common for the seller to carry back a note. Often you can negotiate attractive terms with the seller when you buy the coin laundry. Sellers usually require a down payment of 30-50% of the purchase price. An interest rate of 5-8% and a loan term of 5-8 year fully amortized are typical.

HELOC — your Home Equity Line of Credit. If you have equity in your home, this is a great way to raise money for your coin laundry acquisition at favorable terms.

SBA Loans — Small Business Administration loans can fund a coin laundry business purchase.

Private Investors — often friends and family will lend money to finance your business because they can receive a higher interest rate vs. bank CDs. It is also possible to find “equity partners” to invest in your business in return for a percentage of the business cash flow.