LaundroLab Franchise – Costs, Fees & Earning Stats
Net Worth Requirement:
Units in Operation:
$321,330 - $482,650
LaundroLab is a laundry service company that was founded in 2018. The company is based in Charlotte, North Carolina.
LaundroLab is an emerging franchise brand and growing into a nationwide franchise with over 17 locations in development across the United States. The company offers laundry service as well as a loyalty program for its customers.
Is LaundroLab a franchise or a chain?
LaundroLab is a franchise and it has three core values: accountability, community, and excellence. To achieve these goals, LaundroLab has developed a unique business model that incorporates technology and cleanliness.
LaundroLab’s goal is to make laundry easy and convenient for its customers. LaundroLab’s locations come with cash or credit card payment options, free Wi-Fi, ample folding space, TVs, a kid’s area, games, vending machines, and a loyalty reward program.
How Many LaundroLab franchises are there?
LaundroLab is a franchise that specializes in laundry service. The company started franchising in 2020, and there is currently only one unit open, but there are confirmed to be another 17 in development right now.
LaundroLab is an affordable and convenient option for busy individuals who don’t have the time to do their own laundry. The company focuses on a full-service support model with support before and after opening a store. With seventeen locations currently in development, LaundroLab is expanding its reach across the United States.
How much does a LaundroLab franchise cost?
A LaundroLab franchise can cost anywhere from $321,330 – $482,650. The exact cost will depend on factors such as the size and location of the franchise. The other costs associated with opening a LaundroLab franchise include LaundroLab store signage, startup costs, leasehold improvements, equipment costs, and working capital.
LaundroLab is a full-service laundromat that offers washing and drying. They also leverage technology and have other ways to pay as well. For more information on the cost of a LaundroLab franchise, interested parties can contact the company directly.
What is the LaundroLab franchise fee?
LaundroLab is a new and innovative laundry service that offers a convenient, and affordable solution for busy urbanites. The company was founded in 2018 by Alex Smereczniak and Dan Daquisto who saw a need for a better laundry service in their city and LaundroLab is expanding to several locations across the country.
The LaundroLab initial franchise fee is $49,500. This includes the cost to use the name and logo of the LaundroLab brand. Franchises are currently available in select markets, and the LaundroLab team is looking for motivated individuals who are passionate about ringing with a new era of laundromats.
If you’re interested in starting your own business and making a difference in your community, a LaundroLab franchise may be the perfect opportunity. They also support a semi-absentee business model.
How much can LaundroLab franchise owners make?
LaundroLab is a franchise opportunity that offers entrepreneurs a chance to get in on the growing laundry industry.
In order to become franchise store owners, candidates must have a minimum net worth of $1,000,000 and liquid assets of at least $500,000 with a credit score of 740+. There are also financing options available.
Make sure to get a franchise disclosure document and a franchise agreement and go over anything you are unsure of.
Franchisees need to pay fees on gross revenue such as a royalty fee of 6% and a brand fund fee that is currently at 1% but may increase to 2% in the future.
While the initial investment may be significant, it could be worth it for those who are looking to get involved in the laundry industry. The focus is on building customer loyalty after the first year, which is crucial for long-term stability. Franchise owners get access to the national account program and 2ULaundry, a delivery service. This new revenue stream is in select markets and comes with proprietary technology, ongoing training, and reporting and analytics.
The laundromat industry market forces are trending upward, and with the laundry industry worth billions, now could be the perfect time to open a LaundroLab franchise.
While there is little proof of concept at the moment, the location that is operating has seen positive revenue. Take a look below, with an investment of $483,000, revenue in year two was $230,000 EBITDA.
The Wolf’s Take 🍟
EBITDA of $230K in year two off of a $483k investment? Sign me up!
I am legitimately PISSED that I don’t have the cash available right now for one of these. If you follow @Codie_Sanchez on Twitter then you already have read the Gospel of Cash Flowing Laundromats and know how amazing these businesses can be.
I love what LaundroLab is doing because they:
A) use modern technology for everything and don’t require you to use spare change, and B) they’ve turned the typical laundromat (which is usually old, dirty & depressing) into a modern DESTINATION by adding free wifi and a few TVs, vending machines, arcade games, etc.
They’ve done this without driving up the costs to where the unit economics don’t make sense. The only drawback (or benefit depending on your risk tolerance) is that it’s super early in their growth – they literally only have 1 unit open and operating – so there is little proof of concept at the moment.
But remember, you aren’t subscribed to this newsletter to find out about big brands AFTER they blow up – keep an eye on them or go to their website and start due diligence now. 1 unit open means there’s nothing but open territory waiting to be pounced on. Happy hunting! 🚀
LaundroLab is a full-service laundry company that offers coin-operated washers and dryers and has a laundry delivery service with 2ULandry. The company was founded in 2018 and currently has franchised locations in many states across the country. For more information on the cost of a LaundroLab franchise, interested parties can go to their website.
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