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: Our Sponsors: H-M Company Drain Troughs: https://www.draintroughs.comEastern Funding: https://www.easternfunding.com/Our Website: https://www.laundromatmillionaire.comOur Online Course: https://dave-menz.mykajabi.com/sales-pageOur Youtube channel: https://youtube.com/c/LaundromatMillionaireOur Podcast: https://laundromatmillionaire.com/podcast/Our Facebook: https://www.facebook.com/laundromatmillionaire/Our Facebook Group: https://www.facebook.com/groups/laundromatmillionaireOur LinkedIn: https://www.linkedin.com/in/dave-laundromat-millionaire-menz/Our Instagram: https://www.instagram.com/laundromatmillionaire/Our laundromats: https://www.queencitylaundry.comOur pick-up and delivery laundry services: https://www.queencitylaundry.com/deliveryOur WDF & Delivery Workshop: https://laundromatmillionaire.com/pick-up-delivery-workshop/Suggested Services Page: https://www.laundromatmillionaire.com/servicesWDF & 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.htmlLM Show on Leases: https://www.youtube.com/watch?v=npSt0Kn6uuELaundroworks: https://laundroworks.com/Timestamps00:00 Episode 100 Intro on How to do Due Diligence before You Buy03:52 What is Due Diligence?05:57 Making the Offer: Writing a Letter of Intent11:35 Step 1: Get the Support Behind Their Numbers17:28 Red Flag Expenses25:34 Step 2: Difficult to Escape a Bad Lease32:26 Step 3: Assess the Equipment & Inventory36:14 Step 4: Demographics & Value of the Location38:42 Factoring in the Float of a Card Store44:05 Step 5: Evaluating Current Operations46:33 Step 6: Analyze the Competitive Landscape48:57 Step 7: Regulatory Compliance51:08 Step 8: Watch for Lawsuits and Contract Obligations53:15 Step 9: What is the Status of their Brand?55:19 Step 10: Proper Coverage from Day 157:50 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