How to Open a Laundry & Dry Cleaning Franchise
Entrepreneurs looking to invest in a growing industry are flocking to the laundry and dry-cleaning industry — and for good reason! Thanks to rapid urbanization, busy lifestyles, and technological advances in the laundry industry, now is a great time to open a laundry franchise.
A Strong and Tidy Investment
Where to Begin
You don’t need to have experience in the laundry and dry-cleaning industry to open a Tide Cleaners. You also don’t need to have business ownership experience to open or purchase a franchise. What you do need are passion and a strong entrepreneurial spirit.
What Kind of Experience is Needed?
Previous franchise or operations experience is preferred, but it is not necessary to open a laundry franchise. Tide Cleaners looks for the following qualities and qualifications in potential franchisees:
An entrepreneurial spirit and strong desire to succeed
The ability to motivate and train people
The ability to manage finances
The willingness to personally devote full-time and best efforts to the day-to-day operation of the cleaning business as an on-premises franchisee
The willingness to complete a comprehensive training and evaluation program to become proficient in all aspects of running the cleaning business
The ability to meet financial qualifications
Do Your Research
If you qualify to open a laundry or dry-cleaning franchise, your first step is to research the industry. This includes talking with business owners to determine if joining a franchise system is right for you.
Reach out to laundry franchise owners in your area to discuss their businesses. You will also be able to get an idea of how a similar business would fair in your community.
The Costs of a Great Investment
There are upfront and ongoing costs involved in purchasing or opening a dry-cleaning franchise. It will be up to you to weigh to potential rewards and success with the cost of owning a laundry franchise.
The initial franchise fee to open a Tide Cleaners franchise is $20,000. Potential franchise owners must have $1.1 million in liquid capital and a net worth of $2 million to qualify. The investment range varies depending on the type of store and how many stores you want to open.
Franchise owners must pay a royalty fee to the franchisor of 6.5 percent of net sales. Net sales are the gross sales minus taxes, refunds, and discounts. This is paid weekly through electronic funds transfer.
There is also a requirement to contribute 4 percent of the store’s weekly net sales for marketing. Two percent of that goes toward local marketing, and 2 percent goes toward Tide Cleaners’ National Advertising and Development Fund.
Development Incentive Program
New Tide Cleaners franchise owners can take advantage of the Development Incentive Program. This includes lower fees, up to $25,000 in marketing support, and reduced royalties for up to six months.
Do you already own a dry-cleaning business? Non-franchised dry cleaners have an incentive to convert to Tide Cleaners locations. The Tide Cleaners Conversion Incentive Program allows such business owners to take advantage of lower franchisee frees and reduced royalties for six months.
It can take as little as three-and-a-half months to join the Tide Cleaners family after submitting a request form.
Once you visit the Tide Cleaners offices and meet the team, the Franchise Review Board will consider your application. After you qualify and sign franchise agreements, you can get started as a laundry franchise owner!
Support Opening Shop
Tide Cleaners offers ongoing support, and you won’t be alone in your process of opening a dry-cleaning franchise.
The Tide Cleaners team will provide guidance regarding standards, specifications, operating procedures, marketing, and purchasing equipment and products. A series of manuals that will assist in the operation of your Tide Cleaners are also provided in a franchise website portal.
Take the Next Step
Do your research, ask questions, and prepare for support. As a Tide Cleaners franchise owner, you have the freedom to run your own business while receiving the help you need to find success.