Franchise New Zealand - Year 29 Issue 04 – Summer 2021

Page 25

Opportunity: Retail

Speed Queen operator watches the money come in 18 hours a day from remote business

HITTING

pay dirt

M

att Fogarty was more than impressed with the roll-out of his new laundromat business. ‘From signing the lease to getting running would have taken just four months – in normal times,’ he says. ‘Covid-19 turned our April opening into July, but I’m fully confident my next outlet will be done super quick because I know it can!’ Note that Matt’s talking about a ‘next outlet’ already – that’s a measure of how well his new business has done in just five months. ‘It was paying for itself in the first month!’ he says.

Slam-dunk design The remote operation option meant that the Auckland-based Matt was able to consider opportunities anywhere in the country for his new business. He found an ideal location in Tauranga, three hours away from home. ‘I wasn’t worried by that, as it is quite clear the Speed Queen model is specifically set up for this,’ he says.

Matt’s a sales manager for a large car leasing company, but had often thought about owning his own business. ‘Over the years I looked at options from rental properties to big brand franchises, but it wasn’t until I came across Speed Queen that I found what I thought looked promising. It looked fun, it looked like a great opportunity, and it could provide exactly the kind of passive income I wanted.’

‘Speed Queen approved the location, but then I was out of my depth as I’d never signed a lease in my life,’ Matt laughs. ‘Fortunately, Speed Queen held my hand throughout that and the council approval process, and also through store fit-out. Speed Queen can arrange contractors, but I decided to do that bit myself as part of learning the business. Again, the support was excellent – Royce provided an absolute slam-dunk in terms of design and layout, and that and his other suggestions have helped set me apart from the competition.’

No failures

Remote operation really does work

Laundromats are back in fashion. ‘As apartments have shrunk, and the cost of domestic machines has grown, self-serve laundromats have become more and more popular,’ says Royce Little, Speed Queen’s head of laundromat sales. ‘This trend has created the perfect business opportunity: Speed Queen-equipped laundromats are cashless and capable of being run remotely. You don’t need staff or an expensive location – provided there’s plenty of parking, a practical and much cheaper site is ideal.’

So how does Matt find remote operation? ‘I had to train myself not to rush down every other day to make sure all was well at first, but now I know it really does work! I employ a security company to open the store early and close late; I have a cleaner who goes in once a day, and I’m connected to each machine via an app on my phone so I can tell exactly what it is doing at all times. The machines are so robust that there have been no problems, but if there were an issue I have access to a repair network that can be whistled up anytime.

Founded in 1908, Speed Queen has been operating in New Zealand for 25 years. The company is the oldest and largest manufacturer of commercial laundry equipment in the world, and it also leads the market with technology. Laundromat owners like Matt operate under their own brand using Speed Queen equipment, and have access to the company’s massive experience when it comes to site selection, fit-out and support. ‘We’ve equipped hundreds of outlets around New Zealand over the last 25 years, and we’ve never built an outlet that has failed,’ Royce says proudly. ‘We’ve no desire to spoil that record, so when Matt came to us, we gave him all the help he needed.’

Matt Fogarty runs his Tauranga business from his Auckland home franchise.co.nz – PUTTING PEOPLE IN BUSINESS

SpeedQueen2904TOR 25.indd 1

‘The best part is that customers just love it. We use standard eftpos machines familiar to all from service stations and shops, and every machine is connected to them so I can watch as people transfer funds into my bank account 18 hours a day. And cashless operation means no temptation for thieves, of course. ‘I’ve done a lot of advertising on social media, but I can do that from anywhere. When I do go to Tauranga, though, I like to spend a day or so as I enjoy talking to customers and getting to know what they want from the business. ‘Would I do it again? You bet I would. Everything was up front, there have been no surprises, and the business really does run itself.’

Attractive for investors With interest rates at record lows, Royce says that investing in a SpeedQueen laundromat offers a hugely attractive proposition for investors. ‘A medium-sized investment will be between $250,000 and $300,000, with a deposit required of $75-100,000. The return on the total investment is in the region of 2030 percent, and we’ve had some owners do much better than that. Advertiser Info ‘If you are interested in opening your own remote-controlled, cashless, money-making investment, we have several areas with considerable potential. Call me and find out more.

Speed Queen www.speedqueen.co.nz Contact Royce Little P 0800 77 333 7 royce@speedqueen.co.nz

25 2/12/20 1:40 PM


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Right Behind You

4min
page 62

Controlled Growth

4min
page 82

Expanding Market

3min
page 67

MUTUAL BENEFITS

7min
pages 59-60

LOOKS MATTER

2min
page 56

embracing THE FUTURE

4min
page 61

Questions To Ask About A Franchise

20min
pages 46-50

ADVICE pays off

4min
page 57

Your Journey Into Business

4min
page 45

CHOICE!

3min
page 53

Make The Switch

2min
page 44

One Of The Best

3min
page 51

The Full Package

3min
page 41

Rich Pickings

4min
page 37

Locals Backing Locals

9min
pages 42-43

Celebration

2min
page 36

EXECUTIVE DECISION

3min
page 39

The Emotional Roller Coaster - What's It Really Like Being A Franchisee?

12min
pages 30-33

Perfect Timing

3min
page 29

VALUE ADDED

3min
page 27

Turn Your Experience Into A Business

6min
page 23

Drawing People Together

4min
page 35

Ideal Time For InXpress

2min
page 22

Building Great Franchisor Teams

2min
page 28

Hitting Pay Dirt

4min
page 25

Out In Front

3min
page 21

Racing Ahead

9min
pages 1, 5-7

ROOM IN THE MIDDLE

3min
page 19

Investment Properties

4min
page 15

Taking Treatment To The People

2min
page 14

Prevention And Cure

3min
page 13

FAMILY FIRST

4min
page 11

Ideas Unleashed

3min
page 10

POWERING AHEAD

3min
page 9
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