WaveMax Laundry

Laundromats
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Franchise 500 2023
2024 Franchise 500 Rank
#416 Not ranked last year
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Initial investment
$251K - $1.4M
Units as of 2023
50 Increase 212.5% over 3 years

WaveMax Laundry is a coin-only laundromat franchise providing self-serve and wash-dry-fold service options for clients. With more than 20 units across multiple states, the company is more aggressively pursuing its growth strategy by seeking franchisees to take their brand to more markets. Seeing a shortage of clean, well-equipped, and effectively managed laundromats in Jacksonville, Florida, the founder saw a need for the WaveMax Laundry concept and eventually developed it into a franchise brand.  

WaveMax Laundry was officially launched in 2012 but did not begin franchising until 2016. WaveMax Laundry aims to be a breath of fresh air in the laundry market with its innovative approach toward improving customer experience.  

Why You May Want To Start a WaveMax Laundry Franchise

WaveMax Laundry is offering franchise opportunities to those experienced in business. If you are good with developing and executing business plans and are results-oriented, a team player, able to manage your finances, and have a decent credit history with enough assets to start and maintain the business, WaveMax Laundry could be an opportunity worth taking a look at. 

As a franchisee, you will receive training and all forms of support, be it in sales development, marketing, customer service, and financials. After completing a multiple-day training at corporate headquarters in Jacksonville, Florida, WaveMax Laundry will train you at your franchise location for another few days. During this time, the franchisor will handle all the aspects of your business so you can ease into your operations when you are ready to handle them yourself.

What Might Make a WaveMax Laundry Franchise a Good Choice

WaveMax Laundry attempts to differentiate itself by using modern equipment that lets customers use coins to operate the machine, accumulate value on a contactless card system, or pay for laundry with the WaveMax Laundry app. With this level of technical use, and considering that laundromats make up an industry worth millions of dollars in the U.S., owning a WaveMax Laundry could be your next move. 

To be part of the WaveMax Laundry team, you should make sure you’re financially ready for an initial investment made up of a franchise fee and other startup costs. You should also prepare yourself for the existence of ongoing fees that will include royalty fees and potential renewal fees. Franchisees will also need to meet the company’s set net worth and liquid capital requirements. 

How To Open a WaveMax Laundry Franchise

As you make your decision to franchise with WaveMax Laundry, make sure you take time to explore the opportunity. Research the brand and your local area to see if a WaveMax Laundry franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.

Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the WaveMax Laundry franchising team questions.

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Company Overview

About WaveMax Laundry

Industry Services (Other)
Related Categories Laundromats, Dry Cleaning & Laundry Services
Founded 2012
Parent Company WaveMax Franchise LLC
Leadership Mike Roberts, CEO
Corporate Address 929 McDuff Ave. S., #107
Jacksonville, FL 32065
Social Facebook

Business Overview

Franchising Since 2016 (8 years)
# of employees at HQ 18
Where seeking

This company is offering new franchises throughout the US.

This company is offering new franchises worldwide.

# of Units 50 (as of 2023)

Information for Franchisees

Here's what you need to know if you're interested in opening a WaveMax Laundry franchise.

Financial Requirements & Ongoing Fees

Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee Information Circle
$49,950
Initial Investment Information Circle
$251,455 - $1,422,050
Net Worth Requirement Information Circle
$600,000
Cash Requirement Information Circle
$350,000
Veteran Incentives Information Circle
5% off franchise fee
Royalty Fee Information Circle
6%
Term of Agreement Information Circle
10 years
Is franchise term renewable? Yes
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Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

In-House Financing WaveMax Laundry offers in-house financing to cover the following: startup costs, equipment, inventory
Third Party Financing WaveMax Laundry has relationships with third-party sources which offer financing to cover the following: startup costs, equipment, inventory, accounts receivable, payroll

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

On-The-Job Training 16 hours
Classroom Training 12 hours
Ongoing Support
Purchasing Co-ops
Newsletter
Meetings & Conventions
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
Marketing Support
Co-op Advertising
Ad Templates
Social Media
SEO
Website Development
Email Marketing
Loyalty Program/App

Operations

Additional details about running this franchise.

Is absentee ownership allowed? No
Can this franchise be run from home/mobile unit? Information Circle
No
Can this franchise be run part time? Information Circle
Yes
# of employees required to run 4
Are exclusive territories available? Information Circle
Yes
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Franchise 500 Ranking History

Compare where WaveMax Laundry landed on this year's Franchise 500 Ranking versus previous years.

Additional Rankings

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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise or business opportunity by Entrepreneur Media. Our listings and rankings are solely research tools you can use to compare opportunities. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise or business opportunity. That should include reviewing the company's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees/licensees/dealers.
Updated: December 12th, 2022