Speed Queen Laundry is known for its dry-cleaning services.
If you want to diversify your portfolio with a remunerative franchise, then Speed Queen Laundry can be a great opportunity for you.
To learn more about Speed Queen Laundry, go through our in-depth article and see Speed Queen Laundry Franchise’s profitability, fee, cost, eligibility, and so on. So let’s begin!
About Speed Queen Laundry
In 1908, Speed Queen laundry was founded by Joe Barlow and John Seelig. Currently, it is a subsidiary company of Alliance laundry system. It offers wash, dry, and fold service.
They take care of your laundry with fast, professional results. Initially, they made washers and dryer machines only, but after some time, they also started offering laundry and dry-cleaning services.
Today, it has its own chain of laundromats positioned as “A Better Place to Do Your Laundry.”
Also, currently, this laundry service provider has more than 16 units and is rapidly growing. The best thing about the Speed Queen laundry is that it has a very flexible business model.
They do not require experienced candidates, and also the cost of investment that they require is low.
Moreover, the franchisees get an initial training program and some support to enhance their business. And not only this, but they also provide financial assistance and veteran discount to eligible candidates.
Speed Queen Laundry Franchise Model
| Initial Investment | $490,000 – $1,275,000 |
| Franchise-Fee | $30,000 to $60,000 |
| Liquidity | $300,000 |
| Royalty-Fee | 4.0% |
| Area Requirement | N/A |
| Total Outlet | 16 |
Training Of Speed Queen Laundry
Speed Queen Laundry provides an initial training program to all new franchisees.
This training program includes 40 hours of classroom training in which they guide you about how to manage day-to-day activities and ace up your management skills.
However, there is no information available related to any other additional training or periodic training for exiting the franchise. Also, they never disclose any information related to training fees.
Term & Renewal of the Agreement
The initial length of the term of the Speed Queen Laundry franchise is 10 years.
After the expiry of the initial term, franchisees can renew the term if all the conditions are met, and with also the franchise business is in good standing and is making a decent amount of revenue.
However, the length of the renewal term is only 5 years. If you want to know more information about the renewal and term, you read Franchise Disclosure Document.
Speed Queen Laundry Financial Assistance
Speed Queen Laundry provides a financing option to franchisees for the establishment of their franchise business.
However, the franchisee must arrange an average of 20% of equity as a down payment, or last, it could be low as 10% in a certain condition.
Speed Queen Laundry hasn’t released information on its official website. So, if you want to know the details related to financial assistance, then just ask for Franchise Disclosure Document. You will get every detail in it.
Also Read: Pressed 4-Time Franchise
Speed Queen Laundry Comparison
| Company | Speed Queen Laundry | Martinizing |
|---|---|---|
| Founded In | 1908 | 1949 |
| Initial Investment | $490,000 – $1,275,000. | $60,000-$385,000 |
| Franchise-Fee | $50,000 | $69,500 |
| Liquidity | $300,000 | $100,000 |
| Total Outlet | 16 | 450 |
| Annual Revenue | $4.6 Million | $3.0 Million |
Frequently Asked Question
How many Speed Queen Laundry franchises are there?
Speed Queen Laundry has more than 16 units across the U.S.
How much does it cost to own a Speed Queen Laundry Franchise?
An initial investment required to open a Speed Queen Laundry Franchise is $490,000 – $1,275,000.
Does the Speed Queen Laundry franchise offer finance?
Yes, Speed Queen Laundry offers financial assistance to franchisees.
Where is Speed Queen Laundry headquarters?
Ripon, Wisconsin, USA.
Is Speed Queen Laundry a franchise?
Yes, Speed Queen Laundry is a franchise organization that offers franchise opportunities worldwide.
How much does the Speed Queen Laundry Franchise Cost?
To become an owner of the Speed Queen Laundry franchise, investors should expect to spend around $490,000 – $1,275,000 and an additional amount of $30,000 to $60,000 as a franchise fee.
Amit Gupta is the founder of DrFranchises – a digital marketing agency that helps brands rank better on Google Maps through local SEO strategies. Amit has over 11 years of experience in digital marketing, SEO, email marketing, and social media marketing. He’s also the owner of multiple franchises and has helped countless brands achieve success online. When he’s not working, Amit can be found playing with his dog.