Episode 78: On this episode of Pursuit of Profit, Cliff talks with Mike Roberts, founder and CEO of WaveMAX Laundry. 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.

Timestamps:

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:

WaveMAX Laundry

Watch this episode on YT here!

Watch the Pursuit of Profit on YouTube!

Connect with Cliff and Justin:

🌐 Website - https://franocity.com/

📷 Instagram -   /franocity

👍 Facebook -   /franocity

💼 LinkedIn -  /cliffnonnenmacher

💼 LinkedIn -   /justinguevara

* Consult with Cliff and Justin @Franocity

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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.