Living just south of Orlando, Florida, owning a property \nmanagement company that rented large vacation homes to tourists was a \nlikely business venture for Ed Ellis and his wife Rachael. However, \ntending to the homes and renters\u2019 needs was a 24\/7-business operation \nthat needed their constant attention. After many years of running the \nbusiness, they found themselves ready for a new business opportunity \nthat would not have the same demanding schedule. They began to look into\n a new investment opportunity that would bring in a steady income but \ndid not require them to \u201creinvent the wheel.\u201d<\/p>\n\n\n\n
They considered buying a health and fitness center franchise, but \ngiven the state of the economy in 2009, they realized that gym \nmemberships might not be a priority for many people. As they \ninvestigated further, they discovered an investment that was \nrecessionresistant and well-established \u2013 the vended laundromat. A \nlaundromat would also provide them with a set schedule of their choosing\n and the flexibility of hands-off management that was desired.<\/p>\n\n\n\n
Once Ed and Rachael made their decision to open a laundromat, they \nbegan looking at the options available to help them finance their new \nbusiness. They spoke with multiple banks but decided to work with Speed \nQueen\u00ae Financial Services (SQFS), the industryleading equipment \nmanufacturer Speed Queen\u2019s in-house finance solution.<\/p>\n\n\n\n
\u201cDifferent from a commercial bank, SQFS understood the unique needs \nof the laundry industry and anticipated my requirements before I even \nknew I had them. For a first-time owner, their knowledge was invaluable.\n At the end of the day I knew they were there to support us,\u201d Ed \nrecalls.<\/p>\n\n\n\n
Ed and Rachael opened their first laundromat in 2009 and after \nfive-and-a-half years of running a successful business, their Speed \nQueen distributor, Statewide, contacted him about a new laundromat \nlocation. An old laundromat at a strip mall had recently gone out of \nbusiness and the property owner was looking for a new owner to take over\n the space. Ed and Rachael wanted to jump on the opportunity due to the \nlocation and proximity to their house, but they needed to make sure this\n was a smart business decision. As an expert in the laundry industry, \nSQFS had the knowledge to provide demographics and background \ninformation on the new location to ensure there was a continued need for\n a laundromat. While their first laundromat was still profitable, they \nchose to sell it to focus on opening and running the new laundromat. \nThey knew that owning a laundromat that was closer to their home would \nreduce their commute, providing them with even more time and freedom to \nmanage the business.<\/p>\n\n\n\n
Once again, Ed and Rachael found that SQFS and Statewide were able to\n provide the support they needed to open the new laundromat. Due to \nSQFS\u2019s expertise in the laundry industry and Ed and Rachael\u2019s experience\n opening and running a profitable laundromat, they were able to work \ntogether to establish terms that would set them up for success, such as \ndeveloping a customized payment plan to ensure that they had the funds \nneeded to open and run the store.<\/p>\n\n\n\n
Statewide provided support throughout the planning and build of the \nnew laundromat, including design services. Statewide\u2019s design services \ncreated a seamless process for the construction team to review the \nprofessional designs, obtain the proper permits and complete the build \nin a timely manner. Ed and Rachael finalized paperwork for their new \nstore in mid-March 2015, and twelve weeks later opened 1 Clean Laundry \non June 15, 2015 in St. Cloud, Florida.<\/p>\n\n\n\n
\u201cI can\u2019t say enough good things about my experience working with \nSpeed Queen and Statewide,\u201d Ed shares. \u201cThey are true partners in my \nbusiness and we are all working together to achieve the same goals. When\n one of us succeeds, we all succeed.\u201d<\/p>\n\n\n\n
Drawing on his experience running a successful laundromat, Ed knew he\n needed Speed Queen equipment. He replaced all of the Dexter machines \nthat had previously existed in the store with brand new Speed Queen \nwasher-extractors and tumble dryers, equipped with Quantum\u2122 controls. \nThese controls provide customizable cycle options and add convenience \nfor Ed and Rachael\u2019s customers by accepting coin or card. The controls \nalso help generate more revenue by allowing Ed and Rachael to run \npricing specials at different times of the day, such as a regular deal \nthey run on Tuesday mornings \u2013 one of their slower times \u2013 to attract \ncustomers.<\/p>\n\n\n\n
The Quantum controls have positively impacted the store from a \nbusiness management perspective, as well. Ed and Rachael receive daily \nemails in the evening that provide an update on machine usage, daily \nrevenue generated and any machine maintenance needed. The controls also \nallow Ed to manage machine operation from his personal computer, making \nit possible for him to be constantly connected to the machines, without \nhaving to be physically in the store.<\/p>\n\n\n\n
\u201cI can\u2019t imagine running my business without the Speed Queen Quantum \ncontrols. The controls allow me to stay up to date on machine operation \nand revenue at all times, which has been very helpful in tracking profit\n since I opened the laundromat in a new neighborhood with a new customer\n base. I have taken advantage of all the benefits the Quantum controls \nprovide, and I love being connected to the equipment from the comfort of\n my own home,\u201d Ed says.<\/p>\n\n\n\n
\u201cI knew that opening a laundromat would be a lot of work, and I would\n need to be 100 percent committed and involved because I was not just \nopening a business, I was building a brand,\u201d Ed shares.<\/p>\n\n\n\n
To build a strong customer base and brand, Ed and Rachael not only \nwanted to build a place where people could do their laundry, they wanted\n to create a space where people enjoyed their experience. To create a \npositive customer experience at 1 Coin Laundry, they provide additional \nservices and amenities for customers, including free Wi-Fi, automatic \nsliding doors, snack and beverage machines, an attendant on the premises\n at all times, wash-dry-fold services, a change machine with a bill \nbreaker and additional items for purchase such as laundry detergent and \nbags.<\/p>\n\n\n\n
Additionally, when Ed and Rachael opened the laundromat at the new \nlocation, they needed to get the word out, so they turned to social \nmedia, the internet and the community to promote the new business. 1 \nClean Laundry utilizes multiple communication channels to share deals \nand advertise the business, including Facebook, Twitter and Living \nSocial, as well as ads in the local church bulletin and local paper. \nThey also use alternative forms of promotion, including announcements \nand signage at the local rodeo. By including a $2 off coupon with some \nof his advertisements, Ed is able to track the leads generated through \nhis advertising, which has proven to be successful in just a few short \nmonths.<\/p>\n\n\n\n
\u201cI feel that my advertising has helped attract customers, which is \nwhy I invest both money and time in it. By including coupons in my \nadvertisements, I can track the success and am also able to generate \nmore customers and please my existing customers,\u201d Ed says.<\/p>\n\n\n\n
While Ed never expected to invest in laundry, he is very happy with \nhis decision. Ed expects to break even with his investment and start to \nturn a profit within four months of opening the new laundromat.<\/p>\n\n\n\n
The laundromat provides Ed and Rachael with a set schedule and the \nability to manage the business and stay up-to-date on machine operation \nand revenue at all times. Running the laundromat is a full-time job for \nEd and Rachael, but it is a job they enjoy, and they look forward to a \nfuture where they own multiple laundromats.<\/p>\n\n\n\n
\u201cI saw laundry as the recession-resistant business I needed and it \nmet the criteria I was looking for, but I didn\u2019t know it would be as \nmuch fun as it is,\u201d Ed says.<\/p>\n\n\n\n
Global Public Relations Manager, Alliance Laundry Systems<\/p>\n\n\n\n