* Included in Asking Price
Since 2012 this franchise Coin Laundry has focused its business model on developing the prototypical market & store that can scale and sustain a national chain of coin only laundromats. Due to the nature of the business (cash & coin only) the laundromat business has not had a viable option to franchise as tracking revenue that ties out to royalty collection is just not an option. Until now. The franchise founder has created a way to track washer and dryer usage based on Therms (the volume of gas used to its heat equivalent of which we have a patent pending) thereby having the ability to track royalty collection based on gas usage versus gross revenue sales. We have built our model to achieve approximately a 7% royalty of washer and dryer sales.
The franchisor will only collect royalties on the Washer/Dryer usage and not ancillary revenue streams to the franchisee, e.g. Wash, Dry Fold (WDF), ATM and vending machines, thereby creating a net royalty of approximately 5%-6%. The Current Laundromat Industry Primarily made up of Mom and Pop operators who are taken advantage of by the washer and dryer Distributors whose sole purpose is to sell equipment to these non-business savvy operators. The industry has no brand, no business sophistication and massive turn over from operator to operator. They sell equipment, we sell profits!
The franchisor's "Secret Sauce" As cliché as it is location, location, location is obviously number one. We have developed our own proprietary approach to discerning the best possible real estate play for our locations. It includes:
Right Site (Understand Demographics and Competition in the area) + Right Size (Best size store based on Demographics and Competition) + Right Mix (Best mix of Equipment for the Site) = Maximum Profits (Keep all costs under control for maximum profits) We use Best Construction, Operational Practices & Green Initiatives in our Laundromats.
WHO IS YOUR BRANDS CUSTOMERS AND HOW DO YOU GET THOSE CUSTOMERS?
• Cleanliness is always #1,
• Safety (women want to feel safe)
• Friendly, helpful staff • Convenience (good parking, etc.)
• Speed in and out. • Working equipment (this is in line with cleanliness)
• Hot dryers (equipment quality)
• Price is important, but is down on the list.
• Keeping up the appearance of the store is critical. Touch up paint (constantly), clean bathrooms, clean ceiling fans, no dust, no clutter with little signs and other crap on the walls, plants, etc. give a professional, branded appearance. We constantly hear "This is the nicest laundromat I have ever been in."
|Growth Potential:||Currently 30 franchise locations with plans to heavily expand|
Franchise fee: First Unit $49,950.00, Second Unit $24,950.00,
Third and Subsequent Units Paid
Seller Reference #SEATTWA001-N14
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