Green Franchise Questions – The Eco Laundry Company
What will I receive as part of The Eco Laundry Company franchise system?
We will provide you up to two weeks of training at our corporate training center. We will also provide you with up to six days of onsite training around the time of the grand opening your green franchise. As a franchise owner, you will have access to all The Eco Laundry Company’s trademarks, our business model, vendor contacts, and processes and procedures. We’ll also present you with a copy of our confidential operations manual to help you run your location properly on a day-to-day basis.
What type of prior experience do I need to have?
Previous business ownership or management experience within the cleaning or laundry industry will not be required. A qualified franchise candidate should have an appreciation and some understanding of clothing care, and must be committed to upholding an exceptional level of customer service within their store. Given the mission of our company, it is also critical that all our franchisees are as committed as we are to the issue of sustainability and green business practices. We prefer active owner-operators, or an operating partner with a minimum stake in the business to be involved in daily operations of the location. In turn, we’ll provide ample support to help franchise owners run their The Eco Laundry Company businesses effectively. We do, of course, also expect that franchisees have the right amount of capital to invest in the business.
How much will The Eco Laundry Company franchise investment cost me?
The projected initial investment range for a single start-up green franchise location is from $229,700 to $350,000. This amount includes an initial franchise fee of $30,000 (this initial fee may be discounted for qualified military veterans). As with any new business venture, it’s important that you have the capital needed to adequately fund your new business.
Are there ongoing fees paid to the franchisor?
Franchisees will be required to pay royalties at a rate of 6% of net sales. These royalties and fees allow us to fund our ongoing support services and the continued development of processes and procedures, marketing tools, training programs, and systems and equipment upgrades.
Are there any advertising fees?
Franchisees will contribute up to 2% of gross revenues into the system marketing fund. Franchisees will also be required to spend a minimum of 1% of revenues on local marketing efforts. Collected funds will be used to develop marketing strategies to promote The Eco Laundry Company brand and fund the creative costs to develop any local franchise marketing materials and campaigns.
Is financing available?
We do not offer direct financing to franchisees. We may be able to provide references to qualified financing or lending resources, on a case-by-case basis.
What is the term of the franchise agreement?
The initial term of your franchise agreement is seven years, with three subsequent renewal terms of five years each.
How do I get started?
If you’re interested in finding out more about The Eco Laundry Company green franchise opportunity, feel free to request more information about our program. Or you can contact us at (646)838-8878 or firstname.lastname@example.org to discuss the possibility of setting up a visit to view our operations, speak with key franchise management staff, and receive our FDD (Franchise Disclosure Document) which contains all the important details you’ll need to make an informed decision.