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Capital is moving into the laundromat industry. That was the undeniable theme of one of the most talked-about sessions at this year's CLA Excellence in Laundry Conference. The panelists sat down to unpack what institutional money actually looks for in a laundromat business and why the answer matters to every operator, whether you plan to sell or not.
Why Capital Is Coming In Now
Alex Jekowsky, CEO and Co-Founder of Cents, opened with the macro picture: 90,000 locations, a $60 billion industry, and a level of fragmentation that has institutional investors paying close attention. Cents recently closed a $140 million Series C, the largest investment in laundry tech history, which signals just how seriously outside capital is taking this space.
Dillan Smith of SBL Ventures offered the everyday operator's version of the same story. Building mostly on debt with no outside investors, he made the case for laundromats the way operators know it best: consistent cash flow, recession resistance, and underserved markets that still have room to grow.
Ben Gardier of Linen Fresh and Thrive Laundry brought a private equity lens to the conversation. With over $1 billion in M&A experience and nine-plus years as a hands-on laundry operator, he spoke to why this asset class compares favorably to others he has evaluated.
And Branden Unnerstall of Best Wash Laundromats grounded the whole conversation in something the room could feel. When buyers first started showing up wanting to acquire his stores, it was equal parts flattering and eye-opening.
How Businesses Are Actually Valued
The panel went deep on valuation frameworks. Ben's team targets acquisitions in the 3.5 to 4.5x EBITDA range. What gets a store to the top of that range comes down to operational quality, location, lease terms, and revenue mix.
Branden shared that he passes on 95% of deals he looks at. The most common reason a store does not make the cut? The seller usually does not even know the problem exists. Deferred maintenance, owner dependency, and the absence of real operating systems are deal-killers that operators often overlook.
Alex brought something no one else on stage could: data from over $1.5 billion in annual payment volume processed across thousands of stores on the Cents platform. The top performers are separated from the average by metrics like revenue per machine, dynamic pricing lift, and wash-dry-fold attach rates.
What Makes a Business Sellable (Even If You Are Not Selling)
This was the part of the session where every operator in the room should have been taking notes, and most were.
Branden walked through his own transformation from working 80 hours a week in his stores to 20. Remote management, layered staffing, standardized processes, and digital payments made that possible and also made his business far more attractive to a buyer.
Dillan made the point that bootstrapping forces the same habits a sophisticated investor would require. When you have to build every system yourself because no one is requiring it of you, you end up with a leaner, tighter operation that can actually scale.
Alex spoke directly to the data question. A coin-only operation without digital payment infrastructure is essentially asking a buyer to trust the owner's word on revenue. A business with a full data trail and connected technology tells its own story and a more credible one.
Ben had a message for the operator in the room with one store and no plans to sell for 15 years: this conversation applies to you too. A more investable business is simply a better business to run right now.
The One Thing
Each panelist closed with one action every operator could take this week to move the needle. The consensus: get your operations documented, your payments digital, and your numbers clean. The time to start is not when you decide to sell. It is now.
Ready to Build a More Investable Business?
The tools that make a laundromat attractive to investors are the same ones that make it easier and more profitable to run today. Cents gives operators the technology, data, and visibility to run a tighter business from anywhere. Schedule a demo and see how Cents can help you scale your laundromat.
A Note on CLA
This session was part of the CLA Excellence in Laundry Conference, one of the best gatherings in the industry for operators who want to learn, connect, and grow. If you are not yet a CLA member, Cents has a partnership that makes it easier to get in the door. You can access a discounted CLA membership here.
It is worth it.
