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SPEED QUEEN OPENS FIRST NEW STORE IN ERFURT, GERMANY

(Erfurt, 12 October 2015)

Speed Queen, the world’s most successful self-service laundry brand, is to open its first new branded store in Erfurt, Germany to complement the launch of a new entrepreneurial investment concept.

It marks the continuation of an ambitious program by Speed Queen to create up to 1,500 branded stores across Europe, working with investors to capitalize on the stability, profitability and flexibility that the self-service laundry industry offers.

The representative store, in Stauffenbergallee, Erfurt, is equipped with 27 of the industry-leading Speed Queen washers and dryers that deliver the highest performance and reliability within the self-service laundry business and accommodate the washing and drying of all types of garment and linen, from trousers and shirts through to curtains and duvets.

The stores are designed to be clean, spacious and modern as part of a new generation of facilities that the company has envisaged. This particular store gives customers access to on-site WiFi, television, a children’s play area, relax area and off-street parking.

Melanie Härchen, Vended Laundry Segment Manager Europe for the Speed Queen Concept Store, says that the new store serves customers and potential investors alike: “Customers will value the convenience of the store, the reliability of the machines, and the modern environment in which they can now do their laundry,” she says.

“Investors will see our concept in practice. It will help them to recognize the opportunity that owning a Speed Queen store represents, and the support that we can provide in helping them to plan, specify, build and equip and operate their own self-service laundry. It will serve as a ‘showpiece’ for all potential investors throughout the country.”

A self-service laundry presents a very different opportunity from ‘traditional’ franchise-based investments that focus on fast food or retail: Unlike other comparable investment opportunities, there are no ongoing royalties or commissions to be paid. It does not involve onerous stock management issues, and because the operation is ‘self-service’, no employees are required. The amount of time an owner needs to spend to manage a Speed Queen Self-Service Laundry is reduced to the minimum.

Speed Queen stores are now opening in Austria, Switzerland, Belgium, Spain, Portugal, Italy, France, Czech Republic, Slovenia, Lithuania, Latvia, Poland and Croatia as potential investors are attracted by a business opportunity that offers entrepreneurs a reliable returns and recession-resistant business model with low initial startup costs and stable cash flow. The concept has already seen more than 16,000 Speed Queen equipped stores created in the US alone.

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