Not Intended As Investment Advice ;-)A fellow blogger at http://flip-this.blogspot.com/ asks semi-rhetorically:
Pretend you inherited a laundry mat (a prosaic, non-glamorous, business) that was losing $6,000 per month and that couldn’t be fixed. How long would it be before YOU shut it down?
Shut it down!? Heck, this is a great investment opportunity. Everyone has to wash their clotes somewhere and they aren't making any more water you know. Laundos®! That's the ticket. Instead of renting each machine, I'll sell them individually to investors. Each machine owner will pay for the mechanism and I'll charge a monthly Laundo Associaton Fee (LAF) for common area expenses and management. Owners can optionally contract with me to sublease their machines, subject to blackout dates in a LaundoTel® type arrangement!