What does it mean to emigrate and start a business with Speed Queen in Spain? Read Magda’s stories

We interviewed Magda, a Venezuelan investor who recently emigrated to Spain and decided to invest with Speed Queen in a self-service laundry to start a new activity there. Read the transcription of her exchange with our team.

ILR: Good morning, I’m Inés from the Speed Queen International team and today we interview Magda, entrepreneur, and owner of a laundry in the Canary Islands. Good morning Magda, how are you?

Magda: Good morning Inés, I am delighted to be talking to you and to talk about this great company, about my experience, about our experience as a Venezuelan immigrant family. We are ready to move forward with this new project that we consider very interesting.

ILR: Thank you very much for collaborating with us. Today we are talking a little bit about you, can you help us understand your profile as an entrepreneur and where you come from?

Magda: From Venezuela. From a family of two: my husband and me. My husband is a partner in a transnational company and he is about to retire. We always thought that our retirement was going to be traveling from our savings, from all our efforts (…) because of the situation that is happening in Venezuela, we were concerned about whether to stay in the country or not and, we saw an option to come to Spain.

“I liked the concept once we came to visit my children on vacation and I asked the owner of the business if was profitable because one thing is what the Internet tells us and another thing is what people personally look at.”

I started looking on the Internet to see what options there were for profitable businesses that were not being attended and I came up with self-service laundromats. Then my children, who came first to Spain, lived near a small laundromat, I liked it. I liked the concept once we came to visit them on vacation and I asked the owner of the business was profitable because one thing is what the Internet tells you and another thing is what people personally see. I thank my colleague for all her advice.

She has four laundromats here in Las Palmas de Gran Canaria and she has been a great support. After that, I went and she gave me the contact of Mr. Francisco Navarro, who also explained the whole process to us. So, that’s how it was. One vacation in December-January we were already giving the initial for a laundry. Let’s say we fell in love with the concept.

In the beginning, we left our daughter in charge of the business. Basically, according to what my colleague explained to me, it was attended by the Speed Queen Insights APP. And well, a daily visit for cleaning. And obviously, at the beginning also attend to the public to learn how is the management of the laundry.

Our daughter decided to move to Madrid and I had to come to take over the business (…) the pandemic came and I am devoting myself fully to it.

That is our story as emigrants, I am grateful for all the technical support of the business model that we have had; because my husband had the bases, since he is an advisor to entrepreneurs, but it is not the same to advise than to have a business.

“This is a good choice of business to invest in, you do not have costs of staff (…) and it is easy to manage because of the technology and support provided by Speed Queen.”

ILR: Which Island are you on?

Magda: Las Palmas de Gran Canaria.

ILR: And what are you looking for in your projects as an entrepreneur? You explained to me that it has all been pushed by a conjuncture, let’s say, migratory politics. Did you have your business objectives in terms of profitability, absolute value, business that you wanted to achieve or how was it?

Magda: No, honestly no, we had my husband’s retirement, to live off our savings, to live comfortably in Venezuela. But because of the situation (…), we were looking for alternatives from which we could live. Because our children have their own life, but we do not. So basically, we looked for a business that was profitable, accessible and that had time available to spend the life we have left relatively in peace, which is what everyone is looking for, peace.

“I fell in love with Speed Queen since my friend told me about the brand. I also investigated and saw that they are machines that have many years in the market of great quality. Even a friend of mine in Venezuela told me that his father had a Speed Queen laundry, and it was 30 years old, and he never repaired it”.

ILR: Sure, I can imagine. You haven’t told me, why did you choose Speed Queen in the end?

Magda: I fell in love with Speed Queen since my friend told me about the brand. I also did some research and I saw that they are machines that have been in the market for many years with great quality. Even a friend of mine in Venezuela told me that his father had a Speed Queen laundry and it was 30 years old and he never repaired them. They are as good as a cat. They went out of the market because they were obsolete, but not because they were useless.

So that gives you a guarantee that its quality. That allows you to have peace of mind that they are machines that will not be damaged in five years. But I did investigate and research that they are machines that have been on the market for a long time and are durable. So that is one of the factors I also considered.

ILR: Now that you have had your laundry for more than a year, in your opinion, what are the key success factors for making your laundry profitable more quickly?

Magda: The first factor I consider is the cost of the rent. The rent is key to making the business profitable quickly. And the second factor is that there must be a few hours of attention so that people get to know the concept and generate trust.

Also, the culture of drying, since drying is extremely economical. When people want to take their wet clothes with them, I tell them: look, for 2 € you can take your comforter or your clothes, fold them and put them away (…) I sell them the laundry, the divine thing that drying your body with a soft towel and not dried by the sun.

It is important to spend the first few months in the laundry so that later she can walk herself. And of course, the word of mouth of your clients, who will also give the laundry a boost.

ILR: And how is your laundry working after a year?

Magda: Very well, very well (…) because since the salesman told me, look, the first few months you always have to wait for people to get used to it, remember that here too there is no climate, let’s say cold, it rarely rains.

We also depend a lot on tourism. And remember that tourism slowed down because of the pandemic. I had clients who came from the peninsula, who stayed in the hotels and came to wash their clothes weekly. I am in a neighborhood where people are workers, so a lot of people are on ERTE. I also got off because of that. But one positive thing I have is that I have many, many buildings that are being done and hotels that are being developed.

So I am, stable. If I could say a number from 1 to 10 as far as profitability, I cover my costs.

ILR: Okay, thank you, do you have any tricks or best practices that you apply in your laundry to make it work? For example, you were telling me that you stay a little bit in the laundry, you talk to them to encourage them to dry, to at least try a different experience.

Magda: Other tricks is that I have some special products for stains, which are out of the machines. People like that. You know, like, “Look, let’s put a little bit on it and it takes the stain out.” That I think is also that extra bit of attention.

Another thing that people like is that I attend them on the phone, I advise them (…) And in the comments on Google they are very assertive: “Thank God the lady is very nice”, etc.

ILR: How do you see the future for your laundry?

Magda: I think I see it well. I have a lot of faith, a lot of hope. I am not a negative person.

ILR: Is technology a key factor for you, is it very important to provide this kind of state-of-the-art experience to your customers?

Magda: I think so, because even though there are older people who resist I tell them that it is very easy. I do believe that technology is very easy and people learn fast.

Yes, yes. Besides, these are with the touch screen. And they are very intuitive because when they go to the machine they click on the green button and the machine starts automatically.

ILR: We are almost finished, there is only one question left, would you dare to open another laundry?

Magda: Yes, but no. After the pandemic is over, honestly, yes, I would, because I already have all the elements, I already have all the tricks.

ILR: Magda, thank you very much for sharing your experience with us today. We hope your business continues to grow and we will stay tuned, thank you for listening, and for more episodes, we look forward to hearing from you.

Magda: Thank you, Inés, for your interview.