WaveMax Laundry logo
Laundromats

Investment

$356,455

Initial Franchise Fee

$54,950

Units

64

Growth Rate

+45.5%

Overview About Investment Territories Support Operations Ranking History

Overview

Industry Services (Other)
Founded 2012
Franchising Since 2016
Parent Company WaveMax Franchise LLC
Leadership Mike Roberts, CEO
# of Employees at HQ 19
Follow

Units and Growth Chart

About WaveMax Laundry

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.

Investment Details

Initial Franchise Fee $54,950
Initial Investment $356,455 - $1,546,750
Net Worth Requirement $750,000
Cash Requirement $400,000
Royalty Fee 6%
Ad Royalty Fee 0
Technology Fee 0
Term of Agreement 10 years
Is Franchise Term Renewable? Yes
Financing Third Party
Veterans Incentive 5% off franchise fee

Available Territories

Franchising opportunities available in the following regions

United States

Training & Support Programs

Comprehensive training and ongoing support to help you succeed

Training

On the Job Training 8 hours
Classroom Training 11.5 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 & Requirements

Key operational details and requirements for running this franchise

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

Ranking History

WaveMax Laundry performance in the Franchise rankings over recent years

Additional Rankings

Curious to know where WaveMax Laundry ranked on other franchise lists? Find out below.

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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