[Lunger]

It can be a very profitable business however, there is more to it.

I think you have not considered the issues of vandalism, theft, machines eating quarters, and liabilty for damaged clothes. Other things can breakdown that you will have to take on that will not necesarily be your responsibility. Property owner not paying the utility bills, drain getting clogged, lights going out in the laundry room. Who will you get to empty the coin hoppers? Are you going to the bank every month to deposit $3200 in quarters? Are you thinking about security?

Also, this is a very competitive, mature industry. The more profitable locations are always in fierce competition. I have seen deals where the property owners get paid huge sums of upfront money. You better have an air tight lease with good lawyers to back you. If the place is profitable, the other companies are going to come around and tempt the owner to break the lease.

If the place was abandoned by Coinmach, I think your income calculations are way off. Coinmach knows this because the are the ones who have been collecting the quarters. They would not refuse to replace old machines if the profit numbers were there.