Selling? Buying? Call Your Distributor (and maybe others)

 

Between November 2021 and the end of March 2022, 18 laundromats that I was working with changed hands. These 18 stores were owned by 14 owners. If you are looking to buy additional laundromats or sell the ones you own, let your distributor know that you are looking. As a salesperson working for a distributor, there are always people calling asking about getting a store or if we know anyone looking to buy. The main office gets calls and emails all the time from people looking for locations.
A lot of these calls are from "tire kickers," people who don't know how to get into the business and just looking for information. Sometimes calls are from other owners looking to get an idea of what their stores are worth in todays market. There are some of these callers that are legitimate buyers with the backing to buy. The company I work for is not a broker. I and the company do not act as a broker in these situations.
No commissions. No promises. If I find someone that seems to be a good candidate for buying your store I pass their information over to you and let you decide how you want to work with it. If you're selling a store I ask what information you are comfortable with me sharing with prospective buyers. If I talk to a legitimate someone that seems to be a good buyer, I pass their name over to you and you run with it.

Depending on how fast you want to buy or sell, this is also an opportunity to reach out to other distributors and open up some new sources for leads. They get leads too. Some might be the same, but others will be different. Can't hurt. Plus you get more information on other brands and stores and trends in the industry.

So what does the distributor or salesperson get from passing along a lead to you? One of two things.
The chance to help a current customer find another store and maybe sell some more equipment, or the opportunity to meet a new owner with the chance to sell equipment.
A third thing that I get out of it is the opportunity to learn something new.
I've learned that every owner, new or old, can teach me something about equipment, marketing, repairs, and all other aspects of store ownership. I've incorporated these ideas into my own experience or passed these nuggets of wisdom onto other owners to help them improve. Thank you for sharing.

Ev
A Heck of A Nice Guy