5/10

Franchimp Summary Rating

2 /10
Higher than 84% of peers

Franchise Summary

Description
The franchise offered is for a WaveMAX Area Representative Agreement pursuant to which you recruit and support WaveMAX Unit franchise owners.
Company Background
WaveMAX Com Laundry is a local coin operated laundromat service. We provide quality laundry at an affordable price, with the convenience of operating hours that fit your lifestyle. WaveMAX was founded in 2016 by two friends who found themselves constantly spending money on laundromat services and wanted to find a better way to save their hard earned cash for more important things like saving or investing. With years of experience running successful businesses, they knew there had to be a better solution than the way people were currently doing laundry. What resulted was WaveMax - A place where you can do your laundry and get back to what really matters: family, fun and work!
Franchise Opportunity
Coin operated laundromats are a great business idea and a good way to build passive income. However, it is hard to get started because of the high initial investment costs. You can start your own coin op laundry with WaveMAX Com Laundry software that will help you manage your entire business from one place. This powerful software has been designed by experienced laundromat owners who know exactly what you need for your business to run smoothly and profitably. The WaveMAX Com Laundry Software comes with all the features you need for running an efficient laundry including - customer management, employee scheduling, inventory tracking, reporting tools etc... It also allows you to set up multiple pricing plans based on time or load size which makes it easy for customers to pay using cash or credit cards.
Corporate Structure
WaveMAX Franchise LLC is a Florida limited liability company formed on April 4, 2016. Their principal business address is 929 McDuff Ave. S., Suite 107, Jacksonville, FL 32065. They have offered franchises in the non-registration states since October 2016.

Earnings Transparency

7 /10
This Franchise discloses slightly more information about the financial performance of their franchisees compared to other franchises in the same industry

Why do some franchises disclose more than others?
There are many reasons why a brand may choose to not include item 19 on their FDD: they could be a newer franchise, they may be in a unique industry that is not super profitable or well-known yet

Financial Performance of "Standard" Units

Average Revenue Per Unit

Compared vs. Services-General Industry

$219,419 / unit

Franchise Type: Standard

Average Revenue During 2020

$219,419
$96,614
Industry Low
$5,825,720
Industry High

Franchise Types Available

# Type Investment Fees

Employee Contact Database

# Name Position Phone Number Email Address

WaveMAX Coin Laundry Franchise System Development in 2022

FAQ

How much investment do I need to start my own WaveMAX Coin Laundry business?
Franchisees typically require at least $351 to $1 investment to get their WaveMAX Coin Laundry business started
What are the initial franchise fees for WaveMAX Coin Laundry?
Franchisees typically need to pay at least $49 in fees directly to WaveMAX Coin Laundry in order to earn the right to launch their business
How much money can I make with a WaveMAX Coin Laundry franchise? What are the average revenues for a typical WaveMAX Coin Laundry business?
We estimate that the average revenue of an individual WaveMAX Coin Laundry unit is approximately $219,419. We based this on Item 19 in franchise disclosure document
How long do I need to commit to running a WaveMAX Coin Laundry unit? What is my contractual commitment?
The standard length for an initial franchise contract is 10 years. Renewals are also generally 10 years

Accessibility

2 /10
The Franchisor's investment costs ranges from $351,455 to $1,515,350 which is Much Higher than the $0 to $0 average in the Services-General industry
What determines the investment cost?
Item 7 of the Franchise Disclosure Document lays out the full list of initial investment costs, including the fee payable to the franchisor, security deposits, equipment, professional fees etc

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