🧼 Laundromats look passive—but valuations can unravel when:

• The owner is the only one handling coin pickups, maintenance, or cleaning
• Revenue isn’t verified with meter logs or machine count reports
• Addbacks include personal utilities, rent under market, or undocumented labor
• CapEx needs are ignored (even though machines age fast)

📌 A room full of machines ≠ a cash flow-producing enterprise.