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He Built a $1M Franchise Empire From Dirty Laundry
Description
Episode 78: On this episode of Pursuit of Profit, Cliff talks with Mike Roberts, founder and CEO of WaveMAX Laundry franchise. Laundromats have some of the highest success rates in franchising -- 90% surpass the 5 year mark. Laundromats withstand recessions, COVID, there's a lot of demand and reliable cash flow. You wonder why doesn't everyone buy a laudromat... because the startup investment is north of $1M. Take a listen to Mike's interview to see if this reliable franchise is for you.
Press play now!
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Timestamps:
00:00 - Intro
02:30 - how Mike got his start
10:05 - how WaveMAX differs from other laundromats
15:52 - revenue streams
19:52 - building the laundromats
23:36 - metrics for building a laundromat
31:02 - financing
37:03 - Tenant Improvement money negotiated from real estate
38:52 - Item 19
43:37 - time commitment
44:20 - staying the course
45:39 - number of stores and franchisees
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Links:
Watch the Pursuit of Profit on YouTube!
Book a free consultation with Cliff and Justin: https://calendly.com/franocity1/30-minute-meeting
Learn more about Franocity: https://qrcodes.pro/15fBNC
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Welcome to "Pursuit of Profit," the raw and unfiltered podcast where Cliff pulls no punches to guide aspiring entrepreneurs, business owners, and franchisees on their journey to create wealth, financial abundance, and ultimate personal growth. If you're seeking sugar-coated advice and constant reassurance, this podcast may not be for you. But if you crave unapologetic honesty and a dose of tough love, then you've come to the right place.