franchise.co.nz – PUTTING PEOPLE IN BUSINESS
15
“There’s a simple five-step formula we use to help someone set up a
successful new Speed Queen-equipped laundromat. It hasn’t failed us yet,”
says Royce Little, Speed Queen’s head of laundromat sales. “In fact, our
track record shows that a typical operator can expect an overall return on
investment of 20-30% or more – and we are very keen to maintain that!”
Speed Queen has been manufacturing commercial laundry equipment for
over a century, with equipment that combines robust reliability with the latest
technology to help investors maximise the return from each machine.
“We’re not strictly a franchise, but we are way more than just an equipment
supplier. We help people set up successful businesses by providing a massive
amount of support, including everything from site location to design, building
consents, and fit-out. It means you can invest with confidence in your
business then sit back and enjoy the rewards as the machines work for you
24 hours a day. Here are five key factors to consider.”
1. Location
One of the keys to building a successful laundromat is finding the right
location. “It doesn’t have to be complicated when you know what to look for,”
says Royce.
“There are a number of factors that determine the ideal location and we
teach people what to look for. Prioritise locations that are near your target
customers and easily accessible. For instance, look for areas close to
apartment complexes and major roads, with ample parking. We don’t shy
away from setting up near an established laundromat because Speed
Queen’s superior advantages have led to considerable successes against
other brands.”
2. Size matters
The perfect size for your new laundromat will depend on various factors.
“A compact design may be suitable for low costs and small spaces, and we
have several which are filling niche markets very successfully,” says Royce.
“Equally, a larger outlet with greater capacity may yield higher profits. We
always look to assess the demand in the area so our clients make the right
choice.
“Whatever the size, we look at every square metre of floor space as potential
revenue. The mix of machines installed can greatly determine the return, so
that is our primary focus. We will have a very good estimate of total costs
and potential earnings by this stage, with a good overview of where the
investment is headed.
“Finance options are available. We do our utmost to take the pain out of set-
up to make sure we get the very best results for our new laundromat owners.”
3. Environment
Royce advises choosing a location that you can easily transform. “Making
your outlet an appealing and welcoming space is all part of the ‘kerb appeal’
that has led to Speed Queen’s success. Even small investments in lighting
and clean interior design can go a long way to attract customers and make it
easy to keep fresh.
“Our 3D design software enables us not just to lay the space out for maximum
returns, but also to create an attractive environment for customers. You’ll be
able to see exactly what your business will look like and build in all the right
features from the start.”
4. Remote management
“We are in the business of helping people set up a semi-passive income. That
means implementing systems that enable remote management, like Insights
– our cloud-based back-office solution. Being cash free is also a convenience
for both users and laundromat owners,” Royce explains.
“No tedious end-of-day banking, no theft or coin jams, and if there was ever
a faulty terminal, the software enables us to direct the machine to another
terminal, which means you won’t lose hundreds of dollars whilst it is down.
“Remote cameras, auto doors or 24-hour operation all add up to easy
management. We pride ourselves on providing a solution with built-in
redundancy, which is a must for a self-service operation.”
5. Total control
The clever software also enables you to increase turnover through instantly
programmable promotions.
“Your local marketing initiatives will be central to your long-term success,
and the remote operation that Speed Queen has perfected means you can
arrange all manner of marketing. You can offer loyalty points to build a
regular client base, offer jackpot-type free washes in certain machines, or
create happy hour pricing at traditional down times.
“Best of all, the customer app and social media management mean you can
reach people with offers at a moment’s notice, all from the convenience of
your own armchair – no matter how far away you are.”
It works for anyone
Speed Queen is keen to work with
would-be laundromat owners all over
the country. A medium-sized investment
will be between $250,000 and $350,000,
with a deposit required of $130,000.
“Our current operators come from very
diverse backgrounds, from ex-CFOs to
dairy owners. The concept will work for
anyone prepared to put in a bit of effort
and some initial legwork, so give me a
call and find out more.”
A tried and tested formula from
Speed Queen means a smooth and
easy start-up for investors
KEEPING IT
SIMPLE
Opportunity: Retail
Speed Queen
www.speedqueen.co.nz
Contact
Royce Little
09 528 5600
Royce@speedqueen.co.nz
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