Question about acquiring a business.

[Starbucks Anarchist]

Hi, guys. I should start by saying I know next to nothing about owning and operating a small business, so that's why I'm asking you guys for advice.

The small business in question is a generic laundromat (about 30 washers/30 dryers) in NYC (Brooklyn, specifically). I was curious as to (roughly) how much it would cost me to acquire such a business. Also, if I actually did acquire it, what would my expenses consist of? It's a self-serve place, so that eliminates wages, insurance and worker's comp, but are there some taxes/fees I'm not aware of aside from income/state taxes?

I hope I don't come off sounding like a novice, even though I am one. Can anybody offer me some insight? Thanks very much.

[FloridaPat]

1. You'll still need insurance for the washers, liability insurance too.

You will probably have to pay yourself a salary. Expenses would be taxes, cleaning, repair of washers and dryers. New washers and dryers when needed. Electricity. That's if you do all the work yourself. You will have to show up once in awhile to make sure things are OK. Licenses probably.

[Starbucks Anarchist]

2. Thanks.

Based on the info I provided, would you happen to have a very rough ballpark figure of how much all that would cost?

And I figure at roughly $2.00/wash and dry and 50 loads a day x 7 days a week, that's $2,800/month, so $33,600/year before taxes/expenses, etc. What do you think I would be left with at the end of the year?

Also, any idea what it would cost to purchase the laundromat in the first place? Thanks again.