franchise.co.nz – PUTTING PEOPLE IN BUSINESS
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As Speed Queen’s head of laundromats sales, Royce Little has spent nearly a
decade helping people set up successful laundromats across New Zealand.
Last year he took the plunge into business ownership himself.
Royce has helped dozens of people open Speed Queen-equipped
laundromats throughout the country. When a particularly compelling
opportunity presented itself just over a year ago, he decided to become a
laundromat owner too. In a small rural town, a considerable distance from
where Royce lives, a retail site turned up in a prime location with ample
parking. The only other laundromat in the area used a proprietary pre-paid
card system – something laundromat customers really don’t like. Royce
knew this was an ideal situation for a Speed Queen setup, which accepts any
standard EFTPOS or credit card.
A disciplined approach
Despite his experience, the move from adviser to investor wasn’t made
without doubts. “It’s always a decision fraught with anxiety for any investor,”
Royce says. “But I’m very glad I’ve done it. Along with the extra, semi-passive
income it’s given me a whole new insight into what our other laundromat
owners go through.”
Royce’s partner, Tammy, was the one who gave him the final push. “She
reminded me that I know what I’m doing. I’ve seen this work for so many
people. It was time to jump.”
Royce admits he got excited by a few tempting locations before landing
the right one. “Tammy kept me grounded,” he laughs. “She’d say, ‘Don’t
compromise, the parking’s not great there – look again.’ And she was right.
It’s very tempting to seize the first opportunity, but I had to follow the same
disciplined approach I recommend to others.”
Remote management and self-service
The fact that the location was
several hours’ drive from Royce’s
home didn’t phase him, “The remote
management and self-service nature
of our laundromats make it entirely
possible to own one in a different town
than you live in”. With no cash on
site, camera systems, auto doors and
excellent cloud systems, Speed Queen
laundromat owners often live away
from their businesses.
The experience of becoming a
laundromat owner has deepened
Royce’s empathy and understanding of
Speed Queen clients. “I’ve now learned
things I never would have if I hadn’t put
myself in their shoes. Since opening my
own laundromat, I have learned some
good marketing skills using the online
Speed Queen Insights system to target customers. This has led to a healthy
uptake in customers and a great first year.”
“The Insights system has also been invaluable in running the laundromat
remotely. I am very busy in my role at Speed Queen support office, and my
laundromat has no impact on my job. I manged to get some local cleaners
to look after the daily cleaning which has meant I only needed to physically
check on the laundromat five times in the first year.”
Royce sees the continuing rise of laundromats as a response to modern life. “I
think that people are just so time poor nowadays that laundromats are almost
becoming a way of life. I have noticed a number of Air BnB customers using
the laundromat as it is a cheaper option than commercial laundry services.”
A unique business model
Speed Queen offers a unique business model. It’s not a franchise, investors
operate under their own brand, but with support from Speed Queen’s
experienced team. This includes help with site selection, layout design,
machine optimisation, and compliance with council and commercial
water regulations.
“There’s no hard and fast rule about how long it takes to set up,” Royce
explains. “In my case it took about six months to find the site, then five months
to fit it out. But within four months of opening, I broke even on rent, running
expenses, equipment and utilities.”
The cost of establishing a medium-sized laundromat ranges between
$250,000 and $350,000, with a deposit of $100,000 typically required. Returns
are often in the 20–30% range, with some owners doing even better than that.
“Our track record speaks for itself,” Royce says, “in almost 30 years, we’ve
never had a Speed Queen-equipped laundromat fail.”
Sharing real experience
Royce’s experience proves that the technology behind Speed Queen makes
investing in building a laundromat business very easy, once you have the
right site. The system is cashless, remotely managed, and built with rugged,
commercial-grade equipment that lasts. Investors don’t need staff or even a
prime retail location – just visibility and parking.
“If you’re considering a semi-passive, remotely managed business that
generates real income, I’d love to talk,” says Royce. “We’ve identified several
locations across New Zealand with
strong potential. I’ve been there – done it
myself – and now I know it really works.”
Speed Queen is about a whole lot more
than selling laundromat equipment.
With Royce on the team, they’re sharing
real experience about how to create a
business – someone who’s helped build
success after success, and who now has
real skin in the game.
A Speed Queen-equipped laundromat
in a rural town location has proved to be
an excellent investment – and a learning
opportunity too
A WHOLE
NEW INSIGHT
Opportunity: Retail
Speed Queen
www.speedqueen.co.nz
Contact
Royce Little
09 528 5600
royce@speedqueen.co.nz
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