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Franchise Let’s Talk Submit Location Search for: A Better Place to Do Your Laundry The Speed Queen Advantage Financing Testimonials News Become a Franchisee A Better Place to Do Your Laundry The Speed Queen Advantage Financing Testimonials News Become a Franchisee Home 2023-04-24T21:14:37+00:00 Loading... Become a Franchisee Become a Franchisee. Your unique franchise opportunity awaits. Become a Franchisee SPEED QUEEN ® LAUNDRY FRANCHISE A better business model for laundromats Laundry is all we do. And we do it better than anyone. As a leader in commercial laundry, Speed Queen understands the industry from the inside out. While we have been making world-class laundry equipment since 1908, we are much more than a manufacturer. From advanced controls and cloud-based management platforms to laundry-focused financing and hundreds of Speed Queen Laundry stores around the world, Speed Queen technology makes the business of laundry more efficient, accessible and advantageous. And now we’ve taken one of the few remaining fragmented industries and transformed it into a growing global laundry brand. Get the Real Story The laundromat business continues to see franchise options introduced to markets. In this podcast episode, we are joined by Dan Bowe, former General Manager of North America franchise and retail operations and current Speed Queen Laundry Advisor who discusses company’s beginnings in laundromat operations with company-owned stores, the learnings gathered from that time, and the transition to the franchise option of today. Listen Now Hear From the Owners We love what we do, and when our customers also love it, everyone wins. When our customers leave happy, we know we’ve done our job making a better place to do laundry. Having a billion-dollar company back you up speaks volumes. Speed Queen is not gonna just let you stay stagnant.” -Multi-Unit Franchise Owner Sanjay Banit learn more The success rate of franchises is way higher. There’s a system in place and it’s a proven fact with the same product you will be successful.” – Franchise Owner Robert Rafia, Long Beach , CA learn more Fragmented Industry = Franchise Opportunity With an above average rate of return for below average risk, nearly 94.8% 1 of Speed Queen Laundry stores have seen success. Our advanced solutions and industry-leading technologies make running a laundry business easy. In addition to real estate and construction support, we’ll provide you with operations and marketing playbooks to run your business strategically. Plus, with Speed Queen Insights you can control all of your laundromats from a single website — regardless if you have one or 100 stores. As a stable industry, laundromats are resilient to economic downturns and consistently yield steady returns. Combined with low labor costs and minimum inventory, there’s never been a better time to enter the laundry business and join a franchise that’s revolutionizing the way laundromats are run — while reinventing the entire laundry experience . Investment Requirements: Liquidity: $300,000 – Net Worth: $2M *Investment per location A Snapshot of the Industry 54% of laundromats are single store operations 2 0 laundromats in the US 3 68% of laundromats have 1–3 employees 4 $ 0 in gross revenue annually 3 77% of laundromats have experienced growth 2 Whether you are looking for a single or multi-unit franchise opportunity, increase the return on your investment with a Speed Queen Laundry franchise. SPEED QUEEN ® LAUNDRY FRANCHISE Stable Industry Laundromats thrive in both periods of economic growth and recession. Over the last two years, the industry has also flexed its muscle through its essential business” status through the global pandemic. Historically, the size of the market has grown proportionately with increasing population. Plus, there’s no threat from e-commerce like other brick-and-mortar stores face. Like food and shelter, clean clothes are also considered a basic life necessity and important for overall health. With roughly 35% of U.S. households renter-occupied 6 , laundromats play a vital role in supporting proper hygiene for millions of people. 41% 28-41% Average ROI Speed Queen Laundromat franchises enable investors to tap into the average return on investment of 28 to 41 percent* that vended laundries offer. *See Item 19 in Speed Queen’s 2022 FDD (dated April 29, 2022) for more detail. Low Labor Costs With your machines doing the work, your business doesn’t have the labor needs and costs that complicate operating many other franchises. Cashless Simplicity With customers paying up front for their cycles, you’re not having to deal with accounts receivable, which simplifies accounting. And with our app-based payment system, you no longer have the added work (or risk of theft) that comes with managing coins and cash. Low Inventory Aside from simple convenience products such as over-the-counter soap, softener, and laundry bags, Speed Queen Laundry franchises require minimal inventory – which also makes them all but immune from supply chain issues. Remote Management Speed Queen Laundry franchises leverage our cutting-edge, and industry-leading suite of technology tools. The bottom line – remote management technology drives a business model adapted to your lifestyle and not the other way around. Multiple Revenue Streams Keep growing your business by taking advantage of additional service opportunities past your core self-service laundry customers. Wash, dry, fold Over-the-counter retail sales Machine cycle modifiers Pickup/delivery Commercial accounts Multiple Revenue Streams Keep growing your business by taking advantage of additional service opportunities past your core self-service laundry customers. Wash, dry, fold Over-the-counter retail sales Machine add-ons Pickup/delivery Commercial accounts Low Start-Up Costs The total investment for a Speed Queen Laundry store can range from $1 million to $2 million 7 , depending on your build out costs. Speed Queen’s in-house financing could allow you to be up and running with financing available up to 90%. Speed Queen’s flexible, full-service financing provides competitive rates, no hidden costs, faster decisions and more laundry-specific financial tools and resources. Low Start-Up Costs The total investment for a Speed Queen Laundry store can range from $500,000 to $1.5 million7, depending on your build out costs. Speed Queen’s in-house financing could allow you to be up and running with a deposit as low as 10% of your overall costs.* Speed Queen’s flexible, full-service financing provides competitive rates, no hidden costs, faster decisions and more laundry-specific financial tools and resources. *The range of the deposit will be between 10-30%. Rates are subject to formal credit approval and credit score. 8 A Better Place to Do Your Laundry Laundry is all we do. And we do it better than anyone. From innovative machines that are built to last to experiential laundry stores that wow your customers, Speed Queen truly is a better place to do your laundry. A Better Place to Do Your Laundry Laundry is all we do. And we do it better than anyone. From innovative machines that are built to last to experiential laundry stores that wow your customers, Speed Queen truly is a better place to do your laundry. Clean, Safe, Friendly Stores Speed Queen stores are unlike other laundromats you may have visited. We’ve created a truly memorable laundry experience for your customers with an emphasis on safety. The transformative store design features comforts of home, including a kids’ play area, comfortable seating and free high-speed internet. The bright, open layout helps provide the perception of personal space” while maximizing site lines for added security. Every store is also staffed and equipped with live security cameras that are always recording. Kids’ play area featuring free iPads Folding tables of varying heights Family table with plugin ports Live security cameras record 24/7...