What Is the Speed Queen Laundry Franchise Opportunity?
Company Overview and Industry
Speed Queen Laundry is a self-service laundromat franchise that allows investors to own modern, high-tech laundry facilities. The franchise is backed by Speed Queen’s 115-year legacy in commercial laundry equipment manufacturing. In fact, Speed Queen launched its first company-owned laundromats in 2016 and began U.S. franchising around 2019 according to franchisegrade.com. Since then, it has expanded steadily: as of 2022 the brand had 21 U.S. franchise locations , growing to roughly 29 total U.S. laundromats (14 franchised and 15 corporate-owned) by the mid-2020s. This growth underscores strong investor interest in the vended laundry industry, which is often praised as an “essential and resilient” business (people always need to wash clothes, even during recessions).
Speed Queen’s parent company, Alliance Laundry Systems, is a global leader in commercial laundry based in Wisconsin. The franchise model builds on that industrial expertise. Speed Queen Laundry franchises are positioned as high-end, full-service laundromats – not just rows of coin washers, but tech-enabled facilities with a focus on customer experience. The industry itself – coin-operated laundromats and laundry services – is considered a stable niche. In the U.S. there are around 35,000 laundromats generating $5 billion annually. Laundromats tend to be recession-resistant, since no matter the economy, people must wash their clothes. Speed Queen leverages this stability with a franchise offering that aims to “streamline entry into the business” for newcomers. In short, it’s an opportunity to invest in a century-old brand name in a consistent-demand industry.
What Franchisees Get
A Speed Queen Laundry franchisee essentially gets a turnkey laundromat business with a proven template. The franchise’s services are straightforward: customers come to your retail location to wash and dry their clothes using self-service machines. Most Speed Queen laundromats also offer add-on services, such as wash-dry-fold (laundry drop-off) and vending of laundry supplies, according to the company’s financial disclosures, as reported by franchisechatter.com. In other words, franchisees can earn revenue from washer and dryer use, doing fluff-and-fold service for busy customers, and even selling detergent or snacks on-site.
What sets Speed Queen apart is the technology and support baked into the model. The laundromats feature cutting-edge Quantum Touch washer/dryer controls – full-color touchscreens that are highly intuitive for users. App-based payments and loyalty rewards are integrated via the Speed Queen mobile app, so customers can pay by phone, earn points, and even remotely see machine availability. Franchisees also benefit from remote monitoring systems: owners can track machine performance, revenue, and maintenance needs in real time through the Speed Queen Insights platform. All these tools help reduce the day-to-day burden on the owner while delivering a modern experience for patrons.
On the support side, Speed Queen provides training and ongoing assistance. New franchise owners go through about 40 hours of on-site training to learn store operations. The franchisor also helps with site selection and build-out – a critical factor, since the success of a laundromat depends heavily on a high-traffic, densely populated location. Speed Queen’s team can analyze demographic data and guide franchisees to choose viable locations (they even note that store performance is projected based on local population and area characteristics). Once your store is open, marketing support, a customer call center, and tech support are usually included (in some markets, franchisees pay a flat monthly system fee that covers software licenses and centralized customer service). Importantly, running a laundromat does not require any special background or technical skill – “no specific skills from the investor” are required, since in a self-service model the customers and machines do the work, not you. Many owners keep the operation simple, with no need for permanent employees on-site aside from perhaps a part-time attendant for cleaning or customer assistance. In summary, a Speed Queen franchisee gets a fully outfitted laundromat with a proven system, corporate support, and a built-in customer value proposition (clean, fast, tech-enabled laundry service for the general public).
Startup Costs and Ongoing Fees
Launching a Speed Queen Laundry franchise requires a significant capital investment. The initial investment ranges from roughly $1.2 million up to $1.9 million for a single laundromat. This figure includes everything from the franchise fee to build-out, commercial washers and dryers, signage, initial supplies, and working capital. The franchise fee itself is about $49,500. Speed Queen also typically requires franchisees to have a minimum financial net worth (often around $2 million) and liquid capital (around $300,000) to ensure they can fund the project and sustain it through ramp-up. It’s a large upfront cost – by comparison, many service franchises cost a fraction of that – but much of it goes toward the heavy-duty equipment and real estate needed for a laundromat.
Ongoing fees include a royalty and advertising contribution. According to recent franchise disclosures, Speed Queen charges a royalty of around 4% of gross sales, and an additional brand marketing fee of ~1%. (Some newer franchise materials indicate the royalty could be up to 6%, but 4% appears common.) Notably, Speed Queen historically promoted a “no royalty” model in certain markets via licensing – for example, in Europe, investors pay no percentage of sales but rather a flat monthly license fee. In the U.S. franchise program, however, you should plan on percentage royalties like most franchises.
Beyond those standard fees, a laundromat owner must budget for lease costs, utilities, maintenance, and insurance. Commercial washers and dryers are expensive (each store might have 70–100+ machine “pockets”), and they consume water, electricity, and gas, so utility bills are a major operating expense. Equipment maintenance is also critical to avoid downtime. Speed Queen’s Item 7 (startup costs) and Item 19 (earnings claims) show that these stores have considerable fixed costs but also the potential for solid returns. For example, vended laundry businesses typically see a 28%–41% average return on investment according to Speed Queen’s franchise marketing. The company’s 2022 disclosure notes a projected annual revenue around $466,000 per store on average, with healthy profit margins after expenses. As always, results vary – but the key point is that laundromats can generate steady cash flow once the upfront costs are overcome. Investors need to be prepared for a high initial spend and several years to recoup it (Speed Queen cites a typical ROI timeline of 4–5 years in suitable locations).
How the Industry Itself Compares
In evaluating Speed Queen, it’s useful to compare the laundromat industry it operates in to the commercial cleaning industry (the arena where Assett Franchise competes). Both industries revolve around cleaning, but they differ greatly in business model, customer base, and growth dynamics. Below we break down how Speed Queen’s laundry sector stacks up versus a commercial cleaning business franchise model in practical terms. We’ll highlight the advantages of investing in laundromats, but also why a commercial cleaning franchise can be a more scalable and flexible opportunity for many entrepreneurs.
Speed Queen Laundry Industry Advantages
The self-service laundry industry offers some clear perks for franchise investors, and Speed Queen leverages many of these:
- Hands-Off Operations: Laundromats can often be run with minimal labor. Customers do their own washing and drying; as an owner, you mainly ensure the facility and machines are maintained. This means you don’t need a large staff – some Speed Queen laundromats have zero full-time employees on-site. You might hire a cleaner or part-time attendant for customer service, but labor costs and HR headaches are low compared to many businesses. Essentially, the machines (and customers) do most of the work.
- Consistent Consumer Demand: Laundry is a basic necessity. In an economic downturn, people might cancel luxury services, but they can’t stop washing clothes. Laundromats have a reputation for stability through recessions and even during crises like COVID-19 they were deemed “essential businesses” allowed to stay open. This industry’s resilience is a big selling point – in fact, laundromat franchises boast an average success rate of 95% (far higher than many industries).
- High ROI Potential: Well-run laundromats can yield attractive returns relative to expenses. Industry averages show profit margins in the 20–30% range. Speed Queen cites that investors can tap into an annual ROI of ~28–41% on their laundromat investment. For a semi-passive business, that ROI is compelling. A successful laundromat can often pay back its initial investment in 4-5 years and then continue generating cash with relatively low incremental costs.
- Simple, Proven Model: The laundromat concept is straightforward and time-tested – customers feed quarters (or use an app) for machine cycles. There’s no complex service delivery or specialized skill required to operate one. The simplicity means franchisees can focus on keeping the place clean, machines running, and customers happy. Speed Queen and other chains have refined the model with modern tech, but at its core it’s a no-frills service that everyone understands.
- Semi-Absentee Ownership: Because laundromats require little day-to-day customer interaction, owners often treat them as semi-absentee investments. You might visit the store a few times a week to collect cash, handle maintenance, or manage inventory, but many tasks can be systematized or done by part-time help. Speed Queen even advertises that no on-site presence is needed daily – some owners keep another job or manage multiple locations at once. This flexibility is appealing if you seek a side business that doesn’t consume 40+ hours a week.
However, it’s worth noting that the laundromat industry does have challenges: It’s capital intensive (as we saw, $1M+ to start). Growth is tied to adding more machines or new locations, which means more capital – you can’t “scale up” a single laundromat infinitely the way you might scale a service business. Location is king; a laundromat’s success depends on having enough nearby customers without too much competition. And while largely hands-off, equipment maintenance and utilities management are ongoing responsibilities (broken machines or high water bills can eat into profits). In short, for the right investor profile – someone with ample capital who wants a steady, semi-passive business rooted in consumer demand – a laundry franchise like Speed Queen can be attractive. But how does this compare to the commercial cleaning industry that Assett Franchise operates in?
Compared to Commercial Cleaning Industry
When we consider commercial cleaning (janitorial) franchises, the picture looks quite different. Assett Franchise is part of the $97+ billion U.S. commercial cleaning industry that services offices, schools, medical facilities, and more. Here’s how this industry’s advantages stack up:
- B2B Recurring Revenue: Commercial cleaning companies earn revenue through long-term contracts with businesses, not one-off retail transactions. A cleaning franchise owner typically signs clients (offices, clinics, etc.) who contract for regular service (e.g. nightly or weekly cleaning). This means predictable, recurring income month over month, anchored by formal agreements. You’re not waiting for random customers to walk in; you have ongoing B2B relationships. Franchisors like Anago even provide “contracts ready to be started” for new franchisees, highlighting the stability of contract-based revenue.
- Recession-Resilient & Essential: Much like laundromats, commercial cleaning is considered essential – perhaps even more so on the business side. During the 2008 recession, janitorial services proved to be nearly recession-proof. And the COVID-19 pandemic underscored how critical professional cleaning is for public health and business continuity. Schools, hospitals, and offices must be cleaned regardless of economic conditions. In fact, businesses often outsource more cleaning during downturns to reduce costs of in-house staff. The bottom line: the cleaning industry sees steady demand in all economies, giving franchise owners a very resilient customer base.
- Low Cost of Entry, High Upside: Starting a commercial cleaning franchise generally requires far less capital than a laundromat. Many janitorial franchises can be launched for under $100k total investment – you’re essentially paying for a franchise fee, basic equipment (mops, vacuums), insurance, and some working capital. There’s no expensive real estate or heavy machinery needed; often an owner can start from a home office or small warehouse. Despite the low entry cost, the income potential is significant: with time and effort, a cleaning business can scale to $1M+ in annual revenue by securing multiple client accounts. For example, top franchisees in some cleaning systems surpass $1.2 million/year per territory, and average revenues in established cleaning franchises can hit seven figures. The return on investment can thus be very attractive – you’re leveraging labor and contracts, not large capital assets, to grow revenue.
- Easier Scalability: In commercial cleaning, scaling up is as simple as adding more contracts and staff. Since you’re not constrained by a physical storefront or fixed number of machines, a single franchise territory can keep growing its client list virtually without limit. Need to grow 50%? Sign more cleaning contracts and hire a few additional cleaners – you don’t have to invest another $1M in a second location like you would with laundromats. This scalability means a motivated owner can build a much larger business over time. Assett Franchise, for instance, is designed so owners focus on getting new contracts (“adding buildings”) while their team does the cleaning. That division of labor makes it feasible to scale to dozens of client facilities and a million-plus in revenue, all under one franchise unit.
- Operational Flexibility (Semi-Absentee Friendly): Commercial cleaning can also be structured for executive ownership – where you manage the business, not perform the labor. With the right systems, owners can hire cleaners and even managers to handle day-to-day operations. Many cleaning franchisees keep their day jobs initially, scheduling cleaning crews for nighttime or weekend shifts when buildings are empty. While managing any business takes effort, the time commitment can be a handful of hours a week once contracts and crews are in place (especially with innovations like Assett’s automated hiring, which we’ll discuss shortly). In short, the cleaning industry offers a path to semi-absentee ownership akin to laundromats – but with far more growth potential before hitting a ceiling.
- No Expensive Assets or Inventory: A commercial cleaning business has very low overhead relative to revenue. You don’t need a retail storefront – your crews go to the client’s location. Equipment consists of affordable items (cleaning supplies, mop buckets, maybe a floor buffer), not six-figure washers and dryers. There’s no perishable inventory or big utility bills each month. This lean cost structure means higher profit margins can be achieved and it’s easier to weather slow periods. It also reduces risk – if you lose a client, you’re not stuck paying for an idle storefront or machinery. You simply redirect your crew to other jobs.
- First-Time Entrepreneur Friendly: For professionals looking to leave corporate life and start a business (Assett’s target audience), commercial cleaning is often cited as an ideal first franchise. It’s simple to learn, doesn’t require industry experience (franchisors provide the playbook and training), and doesn’t involve complex technical operations. Many white-collar career changers find success in janitorial franchises because it’s about people and process management, not mastering a craft. Compare this to a food franchise (with razor-thin margins and heavy inventory) or something like automotive repair (which needs technical expertise) – cleaning is refreshingly straightforward. The path to ownership is easier and the business model is easy to grasp.
In fairness, commercial cleaning has its own challenges too. It can be a competitive, fragmented market – you’ll vie with other cleaning companies for contracts, and pricing can be competitive. The work is typically done after-hours (nights/weekends), which means as an owner you must coordinate and trust your crew on off-shifts. And like any business that relies on employees, hiring and retaining reliable workers can be tough – in fact, staffing is often cited as the #1 challenge in cleaning (turnover is high in janitorial jobs). The good news is that companies like Assett have developed solutions to tackle exactly that problem, as we’ll see below.
Bottom line: The laundry vs. cleaning industry comparison shows both are “essential” services with semi-absentee potential, but commercial cleaning offers a lower barrier to entry and greater long-term scalability. Laundromats require big upfront investment and are constrained by one location’s foot traffic, whereas cleaning franchises can start small and expand through new contracts across a wide market. Cleaning brings in recurring B2B revenue, versus laundromats’ daily B2C transactions. And while laundromats shine in simplicity and passive operation, a well-systematized cleaning business can achieve similar hands-off management while building a larger enterprise. Next, let’s see how Assett Franchise specifically capitalizes on these cleaning industry advantages and addresses common pain points.
How the Assett Franchise Compares
Assett Franchise is a commercial cleaning business franchise – meaning it operates in the B2B janitorial sector outlined above. What makes Assett stand out is how it’s engineered for executive owners who want to scale a business efficiently. Below, we’ll compare key aspects of Assett’s model to the Speed Queen opportunity, showing how Assett offers simpler systems and bigger potential for franchisees seeking long-term income and lifestyle flexibility.
Simpler Systems, Bigger Potential
Assett Franchise is already in the $100+ billion commercial cleaning industry, so it inherently benefits from the stability and recurring revenue of that space according to bizbuysell.com. But Assett goes further by designing the franchise for simplicity and high ROI. It’s built for owners who want to work on the business, not in it. Unlike some cleaning franchises where you essentially buy yourself a job (having to clean buildings personally), Assett is an executive model. Franchisees focus on acquiring and retaining client accounts, while hiring cleaners to perform the work. From day one, you’re positioned as the business owner/manager, not a technician – “our owners are not supposed to be the ones doing the cleaning”. This is a crucial distinction that enables you to scale up without burning out.
The Assett system is a proven model with high income potential. In fact, Assett’s own franchise units are already demonstrating that a $1M+ recurring revenue business is achievable. As of 2024, the average Assett franchise unit was doing about $1.53 million in annual revenue – an impressive figure that underscores the model’s scalability. This stems from landing lucrative commercial contracts and keeping clients long-term through quality service. Importantly, you don’t need prior industry experience to replicate this success. Assett provides a full business playbook and training to get you started. From operations and quality control to marketing and bidding, the franchise equips newcomers with the know-how to run a professional cleaning company. The founder, Matt Pencarinha, built his own cleaning business from $0 to over $550K in recurring revenue in the first 12 months – and that was before franchising the system. New franchisees benefit directly from those learnings, following a roadmap that’s already delivered fast growth. In short, Assett offers a simplified operational system (so you’re not reinventing the wheel) coupled with big growth potential (seven-figure revenue, multi-year contracts) for those who apply the model.
Automated Hiring = Time and Money Saved
One of the most innovative (and valuable) ways Assett differentiates itself is through its Automated Hiring System. In the service industry, hiring and retaining employees is often the biggest headache – especially in cleaning, which sees notoriously high turnover. Assett recognized that scaling a cleaning business is impossible without a steady, reliable workforce. Their solution was to develop a proprietary hiring automation platform starting in 2019. Today, that system is a game-changer for franchisees.
Assett’s automated hiring system essentially handles the heavy lifting of recruiting, screening, and onboarding cleaners using technology and proven workflows. The result is that an Assett franchise owner spends vastly less time on hiring. In fact, Assett states that this system saves the owner an estimated 20–30 hours per week on HR tasks. What used to be a full-time chore – posting jobs, sorting applications, scheduling interviews, vetting candidates – is largely streamlined into a 2–5 hour per week process for the owner. By automating much of the hiring workflow, Assett franchisees ensure they always have a pipeline of qualified cleaning staff without spending all their time (or money) on recruitment.
The benefits of this are enormous: you can grow your business faster because taking on new clients isn’t bottlenecked by finding workers. You can maintain a higher quality workforce, since the system helps filter for dependable hires and reduces turnover by keeping employees supported. You also save on payroll – with efficient hiring, you don’t need to employ a full-time HR manager or recruiter, nor do you need to overpay to attract staff. Assett’s franchisees report that this automated hiring advantage lets them focus on service quality and client relationships, rather than constantly scrambling to fill cleaning positions. In practical terms, Assett has removed the #1 growth limiter in cleaning (staffing) so that owners can scale up without working 60-80 hours or hitting a wall due to labor shortage. This is a stark contrast to most service businesses – and certainly an edge that a capital-intensive laundromat (where hiring isn’t the issue, but upfront investment is) doesn’t offer. Assett’s system essentially buys back the owner’s time and enables a truly semi-absentee operation, even as the business grows.
Personalized and Founder-Led
Another key difference: Assett Franchise is a family-owned, founder-led company, whereas Speed Queen’s franchise is part of a large corporate entity. This brings a different feel in terms of culture and support. Matt Pencarinha, Assett’s founder, still personally owns and operates the franchise brand. The company has a clear mission and set of values – they speak openly about “being a blessing” to franchisees, employees, and clients, and operate with faith-based principles of putting people first and partnering in success. This kind of community-focused model with a clear mission means that as a franchisee, you’re joining a brand that genuinely cares about your success and impact. You’re not just Unit #205 in a private equity-owned portfolio.
Because Assett is still relatively small and founder-led, franchisees get direct access to leadership and personalized guidance. When you have an issue or need strategic advice, you can talk to the people who created the system – including Matt himself – rather than navigating a bureaucratic corporate support desk. Many entrepreneurs appreciate this high-touch support, especially if they are new to business ownership. It feels more like joining a family than a faceless chain.
In contrast, Speed Queen’s franchisor is part of a century-old manufacturing conglomerate (Alliance Laundry). While they certainly have expertise and resources, a franchisee may feel like just one of many investors in a large system. The focus is more on hardware and ROI, less on individualized mentorship. Assett prides itself on being the “personal, modern alternative”: it’s not owned by a big investor group, and that independence often translates to more attention for each franchise owner and agility in improving the franchise system.
To sum up, Assett offers a more personalized, mission-driven franchise experience. For someone seeking not only a profitable venture but also a supportive community and ethical leadership, this can be a meaningful advantage. You’re building a business with the founders, not just using their name.
Final Thoughts
Speed Queen Laundry is a solid franchise opportunity in the right circumstances. It has a strong brand legacy, high-tech laundromat model, and can provide relatively passive income for an owner with the capital to invest. For a buyer who wants a mostly hands-off business with a retail location and doesn’t mind the heavy upfront costs, Speed Queen’s industry offers stable demand and proven ROI. It’s especially appealing to those who like the idea of “business by the numbers” (machines, utilities, ROI percentages) and not having to manage a large staff on a daily basis.
However, for entrepreneurs seeking scalability, flexibility, and a lower barrier to entry, the Assett Franchise offers more advantages. Assett’s commercial cleaning model gives you a scalable, stable business that can grow as big as you dream, without requiring millions in capital for multiple sites. It keeps operational complexity low – you’re not juggling expensive equipment or retail utilities, just coordinating crews and clients using a proven playbook. The revenue is predictable and recurring, anchored by B2B contracts, which adds stability to your income. Thanks to Assett’s automation and systems, you can run the business with minimal risk and a faster path to ROI (since startup costs are relatively low and the biggest growth hurdle – hiring – is already solved). Overall, Assett is a modern business model built for executive ownership – it’s designed for busy professionals who want to own a company without getting sucked into daily drudgery.
Speed Queen may clean clothes, but Assett Franchise helps you clean up in business. If you’re weighing franchise opportunities and want a model that can deliver long-term income, flexibility, and control — we’d love to show you how Assett Franchise can help you build a business that works for your life.
“If you’re exploring franchise opportunities and want a model that can deliver long-term income, flexibility, and control — we’d love to show you how Assett Franchise can help you build a business that works for your life. Visit https://assettfranchise.com to connect with our team and learn more.”
