Why I Sold My Laundromat

Hey, my name’s Keira Hamilton. I’m an SBA loan broker and former small business owner. In 2023, I purchased a laundromat for $190k. In 16 months, I made $285k in revenue and then sold the business for $300k. 

In 2023, I embarked on an unexpected adventure: I bought a laundromat. Just 16 months later, I sold the business. The laundromat was profitable, and operations were going well. So why did I sell? It was a decision that might seem surprising, particularly during a time when laundromats are hot and the process of buying one can be competitive. The answer lies in how my personal goals evolved over time, and how running the business changed my perspective on life and work.

Why I Bought a Laundromat

My husband and I were looking to invest some capital. Initially, we considered real estate, as we had experience in that space, but we couldn’t find any opportunities that made financial sense. That's when we started exploring small businesses, and what began as a quest for a sound investment quickly turned into something more meaningful.

At the time, I was working a typical 9-5 office job in commercial real estate, managing Class A office buildings in San Francisco. I had a great team, a supportive director, and I was paid well (certainly more than I’d been making in my previous career as a high school English teacher). But something was missing. I always had to defer final decisions to the building owners. And I wasn’t in charge of my schedule.

So, when the opportunity to buy the laundromat came along, it wasn’t just about making money—it was about autonomy. I wanted the chance to make the final call, to be the one in charge. I wanted the ability to decide when I worked, and what I worked on. I was nervous, sure—I didn’t have an MBA, I had a Master’s degree in Education—but I decided to take the leap.

My Experience of Business Ownership

Owning the laundromat was a huge learning experience. It gave me more control over my time, and I loved the flexibility. It meant I could go to jiu-jitsu in the middle of the day if I wanted to, or could grab a mid-morning coffee with a friend on a Tuesday if I wanted to. It also meant that sometimes I was skipping my plans and rearranging my day last minute. Employees get sick, big orders come in without notice. And because I had at most two people on my payroll at any given time, that meant unexpected coverage needs usually came down to me.

Let me be clear: owning a small business is still a lot of work. I didn’t leave my 9-5 because I wanted to work less. I left because I wanted a different experience of work, and I definitely got it. When you own a business, the type of work changes, and you have more say in how and when you do it.

In some ways, I felt more freedom as a business owner. I loved being my own boss and not having someone who was checking when I was working or in the office. In some ways, I felt less freedom. Sure, I didn’t have a boss, but I did have customers. Traveling for more than a couple days was challenging. What if an employee called out? Going on a hike and being out of cell service made me nervous. What if there was an urgent problem?

I cared so much about running an excellent operation, and sometimes that caused me stress. But I also really enjoyed it. I liked interacting with customers and providing a very necessary service. It was so satisfying to put work into the business and see it actually make a difference, both in my customers’ experience and in my profits.

I also discovered something about business ownership that I hadn’t expected: it’s not just about making money. As a business owner, I had the power to create positive experiences for my employees, treat them well and foster a good work environment. That influence and responsibility made me appreciate business ownership in ways I hadn’t before.

Evolving Priorities

As much as I enjoyed the challenge and growth that came with owning the laundromat, I started to realize that my priorities were shifting. My husband and I decided we want to have kids in the next few years, and before that, we want to travel more. Owning a laundromat that didn’t have a manager made it difficult to step away for extended periods, especially for international travel. Laundromats, especially when you own just one, require hands-on attention from the owner.

I reached a point where I asked myself: Does owning this laundromat still align with my long-term goals? I could either double down, buy more laundromats, hire a management team, and commit to growing this business—or I could sell it, save the proceeds, and use them to pursue a larger acquisition in the future. There’s another version of my life where I went full steam ahead on building a laundromat empire. It wasn’t for a lack of belief in myself that I chose not to, I simply realized I preferred to take a different path.

The Decision to Sell

Selling the laundromat was a strategic choice. I didn’t just want to offload the business; I wanted to position myself for something bigger down the road. The proceeds from the sale are now set aside for a future SBA loan that will allow me to purchase a larger business—one that will likely have a management team in place, giving me more flexibility to travel and focus on other passions.

Interestingly, the buyer of my laundromat is doing exactly what I had considered: acquiring multiple laundromats at once to build cash flow and put a management team in place. It’s a great fit for him, and I’m excited to see the business continue to thrive under new ownership.

What’s Next for Me?

The most valuable things I gained from this experience are the two things lenders care most about: experience and liquidity. I’ve successfully bought, operated, and sold a profitable business, and that gives me both the confidence and the credibility to take on bigger ventures in the future.

What excites me even more right now is my new focus: helping others buy businesses. Business ownership has changed my life in ways I never expected, and I’m passionate about making this path more accessible to others. Through my work as an SBA loan broker, I’m committed to educating people on how business acquisitions work—especially how to finance them, which can be the most daunting part.

Exiting the laundromat was just one chapter of my journey, and I’m thrilled about what’s to come. Whether you’re considering buying your first business or just curious about entrepreneurship, I’m here to share my experiences and help guide you along the way.

Want to learn more about laundromat ownership? Check out my YouTube channel for more free, real-world information. You can also attend my Office Hours, a small group call where you can ask any and all questions about business acquisition, business acquisition financing, and laundromats. I’m looking forward to speaking with you!