12 Steps Before You Close the Deal with Dave & Carla Menz

Confused about what "due diligence" is? Not sure what steps to take before you buy that laundromat? How do you make sure it's a good deal and you're protected? In this episode of The Laundromat Millionaire Show, Dave & Carla Menz reveal their 12 recommended steps to take before you close on that laundromat purchase.

Referenced Links:
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Our Online Course: https://dave-menz.mykajabi.com/sales-page
Our Youtube channel: https://youtube.com/c/LaundromatMillionaire
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Our LinkedIn: https://www.linkedin.com/in/dave-laundromat-millionaire-menz/
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Our laundromats: https://www.queencitylaundry.com
Our pick-up and delivery laundry services: https://www.queencitylaundry.com/delivery
Our WDF & Delivery Workshop: https://laundromatmillionaire.com/pick-up-delivery-workshop/
Suggested Services Page: https://www.laundromatmillionaire.com/services
WDF & Delivery Dynamics: A Complete Business Blueprint: https://laundromatmillionaire.com/wdf-delivery-dynamics-a-business-blueprint/
LaundroBoost Marketing Company: https://laundroboostmarketing.com/
Clean Show Registration: https://the-clean-show.us.messefrankfurt.com/us/en.html
LM Show on Leases: https://www.youtube.com/watch?v=npSt0Kn6uuE
Laundroworks: https://laundroworks.com/

Timestamps
00:00 Episode 100 Intro on How to do Due Diligence before You Buy
03:52 What is Due Diligence?
05:57 Making the Offer: Writing a Letter of Intent
11:35 Step 1: Get the Support Behind Their Numbers
17:28 Red Flag Expenses
25:34 Step 2: Difficult to Escape a Bad Lease
32:26 Step 3: Assess the Equipment & Inventory
36:14 Step 4: Demographics & Value of the Location
38:42 Factoring in the Float of a Card Store
44:05 Step 5: Evaluating Current Operations
46:33 Step 6: Analyze the Competitive Landscape
48:57 Step 7: Regulatory Compliance
51:08 Step 8: Watch for Lawsuits and Contract Obligations
53:15 Step 9: What is the Status of their Brand?
55:19 Step 10: Proper Coverage from Day 1
57:50 Step 11: What About the People?
1:00:51 Step 12: But What Will the Future Hold??
1:04:35 Final Thoughts and Call to Action