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Our estimated total project cost can range from $1.6M to $1.9M for a 4,000 sq. ft. store which can be financed up to 75-80% through various financing programs. These project costs are dependent on size and market. Please refer to our Item 7 in our FDD for more details.
Yes! We have a number of options for financing including equipment financing through Laundrylux Financial Services as well as Eastern Funding. Additionally, we have established relationships with a number of lenders who can assist with SBA 7a, 504, and ROBs programs. We'll help you connect with the right groups!
We have a 6% royalty fee, 1% brand fund contribution, $300 per month technology investment, and a mandated monthly minimum local marketing spend of $1,000/$500 per month. Please reference Item 6 in our FDD for more details.
On average, it will take about 12-18 months to get your store up and running. We can help you reduce the timeline in a variety of ways.
We pride ourselves on operational excellence and providing a 5-star experience to our customers and store owners. Before you open, you'll attend a four day training at our headquarters in Charlotte, NC followed by on-site training at your store during your soft opening. You will have ongoing access to a Franchise Business Coach, Marketing Consultant, HR Consultant, and an incredible network of LaundroLab Laundropreneurs™ to lean on as well.
Laundromats are considered a semi-absentee business model. It takes ~6-12 months to get comfortable with your store and develop a strong frontline team. Your main responsibilities will be hiring and training the right team to run the day-to-day operations of your store. Additionally, you'll spend 5-10 hours a week in total managing the manager and managing the cash collection process.