WaveMAX is an absentee concept but keep in mind there is a 6 week process leading up to opening where the owner will be heavily involved

WaveMAX has developed a system to change the way coin laundry locations are perceived and operated.

The industry has primarily been made up of Mom and Pop operators who are taken advantage of by the washer and dryer Distributors whose sole purpose is to sell equipment to these non-business savvy operators. The industry has no brand, no business sophistication and massive turn over from operator to operator.

These naïve owners sign long term leases in buildings that are not the right fit for their businesses and over build the location with too much equipment and are saddled in debt financing. Hence the industry today is thriving for manufacturers as they continue to support this structure of over build in too large of spaces and then disappear once the equipment is sold. This results in too high of rent, too high of construction costs and too high of equipment financing that will not allow a net margin to justify the investment.

WaveMAX’s “Secret Sauce”:

As cliché as it is location, location, location is obviously number one. They have developed their own proprietary approach to discerning the best possible real estate play for their locations. It includes:

• Right Site (Understand Demographics and Competition in the area) +
• Right Size (Best size store based on Demographics and Competition) +
• Right Mix (Best mix of Equipment for the Site) =
• Maximum Profits (Keep all costs under control for maximum profits)

Key Factors:

• Fantastic absentee business model
• Extremely low employee count
• A business that makes money when the franchisee is not around
• Not fast food
• Mature industry with no national brands