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Laundry Leases: Exercising Your Option to Renew

by Editor | Jan 22, 2015 | Featured Articles, Feature 1, Feature 2, Feature 3

The most important asset of your self-service laundry business is your lease. Washers and dryers produce little income in storage or in a parking lot. As you probably know, coin laundry operators are repeatedly advised to enter into long-term lease arrangements,...

Some Advice on Giving Advice

by Editor | Jan 22, 2015 | Featured Articles, Feature 1, Feature 2, Feature 3

A member of the Coin Laundry Association recently called me regarding an adverse ruling in small claims court, which resulted in a $770 judgment against the laundry owner. Apparently, an attendant employed by the owner assisted a customer – at the customer’s...

‘I’m Behind in My Rent! What’s Next?’

by Editor | Jan 22, 2015 | Featured Articles, Feature 1, Feature 2, Feature 3

As the title character, Harold Hill, in the Broadway musical, “The Music Man,” observes, “Trouble! Right here in River City!” Substitute the name of your hamlet for River City and the message should be clear. In most states, a three-day notice...

Can a Shareholder be Liable for Corporate Debt?

by Editor | Jan 22, 2015 | Featured Articles, Feature 1, Feature 2, Feature 3

Although the personal liability of shareholders is generally limited to their investment in a corporation, there are circumstances under which corporate protection from personal liability can be set aside by the courts. The basis for setting aside such protection is...

Can a Shareholder be Liable for Corporate Debt?

by Editor | Jan 22, 2015 | Featured Articles, Feature 1, Feature 2, Feature 3

Although the personal liability of shareholders is generally limited to their investment in a corporation, there are circumstances under which corporate protection from personal liability can be set aside by the courts. The basis for setting aside such protection is...
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