SBA 7(a)/504 FOIA · FY1991–PRESENT · MASSACHUSETTS
Lapels Dry Cleaning franchise in Massachusetts: what the public record shows
Franchisees of Lapels Dry Cleaning in Massachusetts have taken 19 SBA loans since 1991 (average $254,052), and of the 13 loans whose story has ended, 15.4% were charged off — versus 25.0% for Lapels Dry Cleaning nationally and 14.8% across all rateable franchise brands.
Loans in MA
19
Resolved
13
Local charge-off
15.4%
National charge-off
25.0%
Source: SBA 7(a)/504 FOIA files (data.sba.gov), borrower state = MA. Charge-off rate = charged-off ÷ (charged-off + paid-in-full); open loans excluded. A local rate is published only when the resolved cohort clears our floor.
Businesses in this industry
2,525
statewide, all operators
Per 100k residents
35.4
national 26.7
Versus the country
+33%
denser
Every business in Lapels Dry Cleaning's industry operating in Massachusetts — franchised and independent — from the Census Bureau's County Business Patterns (2023), against 2024 population estimates. Counter-intuitively, density is not a warning: across 198 brand-state cells in our loan data, the densest quartile charges off at 5.6% versus 18.1% in the thinnest. A crowded market is usually proven demand; an empty one is often empty for a reason.
| System | Loans in MA | Local charge-off | Units in MA |
|---|---|---|---|
| SERVPRO (UNIT) | 38 | 0.0% | 59 |
| Maidpro | 5 | thin | — |
Same sector, same state, same public records — how Lapels Dry Cleaning compares to the systems a buyer in Massachusetts would actually be choosing between. Local rates under 10 resolved loans are marked thin, not hidden.
A broker is paid by the franchisor to place you. An independent CPA is paid by you — and the job is pressure-testing Lapels Dry Cleaning's numbers, including talking you out of a bad deal.
Talk to an independent CPA before you buy →