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Hi,Please addvise on what to look for in gas stations buying and laundromats buying

We are new to owning our own business being kicked out of the corporate world, both my husband and myself are trying to find some small business aroudn morris county NJ. Please advise on what we shoudl be looking out for and do's and don't s for gas station and laundromats

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Answers (7)
Harry & Sally Vaishnav
Angel Business Advisors
Oakland County, MI

You can find number of resources about buying gas station and laundromat on the web. With the gas station you will need to be prepare to spend long hours; particularly if it is open 24 hours; whereas in the case of laundromat you can even run in absentee.

In terms of what to look for make sure you do your homework in terms of upfront cash requirements and cash flow expectations. If you are going to take out loan your cash flow should be able to support the monthly payments.

We at Angel Business Advisors can evaluate existing businesses and provide a detailed report in terms of its current performance and future expectations. You can find additional information at the link below.

May 13, 2010
AGR Brokers
AGR Business Brokers / All Gold Realty I
Bergen County, NJ

Would bergen or passaic county work for you?

If so I have some stations available.
Feel free to give us a call

May 13, 2010
Robert Klinger
Veracity Business Brokerage
Cass County, ND

Anyone can do a google search on what to look to for. Find a good business broker to deal with in the area you are looking at. If they are worth their commission they will tell you what you need to look for including local laws, zoning, etc. They should understand their market and if the business you are interested in is worth buying. If you wanted to email or call us I would spend some time with you, but like I said find a good broker in the area you are looking in.

Apr 26, 2010
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gas station and laundromat is old news, check out business i haev for sale on this site

Apr 26, 2010
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Broker Consulting Services
Sr Broker
New York County, NY

Vested Business Brokers' Basic Steps to Buy a Business
Initial Consultation-Learn about how Vested's processes work to help you buy a business
You will want to have a one-on-one consultation via phone with a Vested Business Broker consultant, Joseph Di Bello ( to discuss all of your questions and concerns regarding the processes involved for Vested to help you buy the right business for sale. Joseph is trained to help you with your business concerns as well as your personal concerns. We realize that you are making both a financial and lifestyle decision, and the more we understand your needs, the better we will be able to help you buy the right business for sale.
FREE Buyer Registration-View confidential information about a business for sale
Once all of your concerns have been addressed and you have decided to proceed to use Vested in your quest to buy a business, your Vested Business Broker will help you to register as a business buyer at no charge. This is so you can view all the confidential financial information that you will ultimately need to see in order to feel comfortable when you buy a business.
You will need to either sign a one page confidentiality agreement also referred to as (NDA) non disclosure agreement electronically, or if you prefer, you can fax in the agreement (877-735-7505). In the agreement you promise not to disclose to anyone else any confidential information we may show you about any Vested listed business for sale.
Buyer Profile-Automation that helps you buy a business
Your Vested Business Broker will work with you to create your "buyer profile." This process helps make your search to buy a business more successful. Vested Business Brokers bring in new business for sale listings every day and your completed buyer profile will help our database to automatically flag any new listing that may be a good fit for you. When this happens, both you and your business broker are notified that there is a new small business for sale that you should take a look at.
Viewing Listings-Start online and then request an address of a business for sale
After you and your broker complete your buyer profile and enter it into the system, you can review each business for sale that the system recommends online. We also encourage you to browse through our listings of businesses for sale because often a registered business buyer believes he or she wants to buy a business of one type but ends up buying a business of another type that they simply just didn't think of.
Whenever you have looked in the database at a business for sale that you think may be a good fit, your Vested professional will provide you with the address of the listing so you can do a "drive by." If you prefer, your business broker will go along with you to take a look at the business for sale and address any questions about it that you may have.
Offer To Purchase-Making an offer on a business for sale
If a business for sale seems to be a fit and you have had a chance to think about making an offer (sometimes you may have to make several visits to the business to be certain), your broker will help you fill out a Letter of Intent. The LOI details the price and terms at which you would like to purchase the business for sale and sets the timeframe for due diligence (see below). Here your broker's experience will help you structure and make your best offer.
Due Diligence-Verifying the financials of a business for sale
Once your offer has been accepted, you will conduct a period of research on the business called due diligence. Basically, the process of due diligence takes place over a set period of time where you work with the seller to verify the financials of the business for sale as well as learn the inner workings of the business. Due diligence typically takes two weeks. A buyer should always bring in an attorney and accountant to help during this phase of the purchase. Your broker will be available to assist you during the due diligence process in every way.
Contract & Closing-Your dream to buy a business becomes reality
Following a successful due diligence period in which all of your concerns have been addressed, a contract will be drawn up between you and the seller. Typically, this is done by the attorneys on both sides of the deal. If the contract satisfies all the contingencies you have set forth, you and the seller can sign it and set a closing date. At closing, the business will officially change hands and you will have realized your dream to buy a business. Vested Business Brokers are available for you every step of the way to ensure that you are making informed decisions.
Joseph Di Bello 508-965-8848

Apr 25, 2010
Julie A. Barnes, CPA
Small Business Exchange, Inc.
Travis County, TX

Hello Pratibha,

Regarding the purchase of a laundramat, cash income is often understated. Consequently, accurately evaluating this kind of business requires creative due diligence. There are plenty of methods to use. Please visit my blog:
for details about alternative methodologies.

Good Luck!
Julie A. Barnes, CPA
President, SBX, Inc.

Apr 22, 2010
Frank Fitton
Director of Social Marketing
Palm Beach County, FL

I think that anyone that is specifically interested in either buying or selling a business has to check out , it's full of must have information for anyone even thinking about taking the plunge.

What I like best about it is that there seem to be a whole lot of experts that read it and are available to answer any questions you or I might have. The comments section of the posts is extremely insightful.

Here's their tagline from the about section, I think it sums it up pretty well.. "The purpose of our blog - The Business Buyer Advocate ® - is to further our understanding of issues affecting the buying and selling of privately held small and midsize businesses. We invite war stories, expert advice and marketplace intelligence from buyers, advisors, business brokers and dealmakers."

They even have an incentive going on right now that if you leave a comment you'll get a free e-book. The book is "How to Get ALL the Money You Want For Your Business Without Stealing It" by Ted J. Leverette. I got mine, and I think it's quite good.

Apr 22, 2010

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