WaveMax Laundry

Laundromats

2023 Franchise 500 Rank: N/R Not ranked last year

Initial investment: $254K - $1.2M

Units as of 2022: 45 542.9% 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.

Company Overview

About WaveMax Laundry

Industry: Services (Other)

Related Categories: 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 (7 years)

# of employees at HQ: 18

Where seeking

This company is offering new franchisees throughout the US.

This company is offering new franchisees worldwide.

# of Units: 45 (as of 2022)

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: $49,950

Initial Investment: $254,455 - $1,201,250

Net Worth Requirement: $450,000

Cash Requirement: $250,000

Veteran Incentives: 5% off franchise fee

Royalty Fee: 6%

Term of Agreement: 10 years

Is franchise term renewable?: Yes

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