How do you verify a cash business?

Utility consumption, machine counters, card system data and bank deposits, reconciled against the tax returns.

Do you prefer stores where the building is owned?

Yes, generally. Owning the property removes the largest single risk, which is lease renewal.

Does wash-dry-fold increase value?

It can, but it adds labor and management. It is valued on its own margin, not added to the machine revenue multiple.

Selling a laundromat

Laundromats are underwritten on machine utilization and utility cost, and on whether the revenue can be verified. Turns per machine per day, water and gas cost per turn, equipment age and the terms of the lease or the value of the owned property determine almost the entire outcome.

Written and reviewed by Antoine Campbell. Last reviewed 2026-08-12.

The four numbers that matter

A store with high turns and old machines is a capital plan. A store with new machines and low turns is a location problem. Buyers price those very differently.

Turns per machine per day, by machine size
Utility cost per turn: water, sewer, gas and electric
Equipment age and remaining useful life by machine
Occupancy cost as a share of revenue, whether rent or debt service

Verifying revenue

Coin stores are the hardest small business to underwrite because the revenue trail is thin. Buyers reconcile reported revenue against utility consumption, machine counters, card system reports and bank deposits. Utility bills are the most reliable independent check: water usage per turn is fairly predictable for a given machine set.

Owners who have converted to card or app payment systems have a verifiable record and are underwritten with far less discount. If your store is still coin only, expect the verification work to be the longest part of diligence.

Ancillary revenue

Wash-dry-fold service, which changes the labor model entirely
Commercial and route accounts
Vending and amenity income
Pickup and delivery, which is a logistics business attached to a laundromat

Diligence items specific to laundromats

Twenty-four months of utility bills for every meter
Machine inventory with model, age and counter readings
Card system or coin collection records
Lease with remaining term, options and any percentage rent
Sewer and water rate history, including any pending municipal increases
Attendant staffing and payroll records

What Maurant needs to evaluate this

Three years of tax returns and current financials
Twenty-four months of utility bills
Machine list with ages and counters
Lease or deed for the property
Card system reports where installed

When Maurant is not the right buyer

Stores with no verifiable revenue record of any kind
Locations with a short remaining lease and no renewal option
Fully depreciated equipment sets requiring immediate wholesale replacement at a price that assumes otherwise

Questions owners ask

How do you verify a cash business?: Utility consumption, machine counters, card system data and bank deposits, reconciled against the tax returns.
Do you prefer stores where the building is owned?: Yes, generally. Owning the property removes the largest single risk, which is lease renewal.
Does wash-dry-fold increase value?: It can, but it adds labor and management. It is valued on its own margin, not added to the machine revenue multiple.

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