Frequently Asked Questions
Find out what other potential investors want to know about the laundromat industry with these frequently asked questions. If you have additional questions, please contact your dedicated Speed Queen® investment expert below.
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What is the next step in getting my laundromat business started?
Your next step is as easy as filling out the Contact Us form with your basic information. A Speed Queen expert will contact you with more information and guide you through the rest of your laundromat investment journey. Click Here for a step-by-step walkthrough of what you can expect.
What are the financial requirements associated with investing in a laundromat?
Your investment depends on many factors, including how large of a laundromat you wish to open and what percentage (if any) you plan to finance. In general, the average range of up-front investment is $100,000-$300,000. With Speed Queen® Financial Services, you can finance up to 70% of the total project cost with a 30% investment requirement.
What qualifications does Speed Queen seek in its potential laundromat investors?
With the support of the Speed Queen Investor Solutions program, an intimate knowledge of the laundromat business is not required. However, we do look for individuals with an independent and entrepreneurial spirit, the aptitude to manage finances and the ability to meet the financial requirements.
What is the availability of sites in my area?
Our Commercial Real Estate Program will introduce you to pre-approved laundromat locations in your area, accompanied by the pros and cons of each site and the benefits of investing in that particular area. If you have a location in mind, Contact Us for your laundromat business, our experts can run site analytics on the location to determine its potential for profitability.
Will Speed Queen assist with lease negotiations?
Through our Commercial Real Estate Program, we will help you negotiate a better, smarter lease agreement. Or, you may choose to handle this process independently if you prefer.
What is the term of a Speed Queen laundromat investment?
There is no required term of investment. Your laundromat is your own independent business, and you can invest in it as long as you wish.
Is there a continuing royalty fee?
No. Because a laundromat is an independent business and not part of a franchise, there are no royalty or franchising fees.
How long does it take to open a laundromat business with Speed Queen equipment?
We’re always hesitant to quote specific time frames, as each investor’s experience is unique. Factors that may influence the amount of time it takes to open your laundromat include contract negotiations, attaining permits, construction duration and financing availability. Click Here to learn more about the steps involved in opening a laundromat business.
Why should I partner with Speed Queen?
Speed Queen offers the industry’s finest laundromat equipment supported by an unmatched team of laundry, investment and financing experts. We can help guide you through your entire journey, doing whatever we can to ensure your success. Click Here to learn more about what Speed Queen can do for you.
Is financing available?
Speed Queen Financial Services offers industry-leading finance programs designed specifically for laundromat investors. Click Here to learn more about how we can put more than 100 years of combined experience to work for your laundromat business.