Nashville Real Estate Investor To Bring LaundroLab to the Community

LaundroLab, the elevated laundromat concept, is coming to Nashville. Michael Meade, a real estate investor, CPA and now franchisee, originally identified LaundroLab expansion as a great real estate investment opportunity. However, after learning more about the business itself, he decided to get involved as a franchisee.

“I realized there are some great business benefits to the franchise itself,” Meade said. “A number of different things stood out to me. It was the cash flow, low inventory and low overhead costs associated with payroll.”

Meade explained that he has been in Nashville for nearly three decades and has watched the community grow and change over the years. However, in the past five to 10, he has noticed many positive tailwinds due to the real estate market, macroeconomics and population growth.

Working in tandem with the LaundroLab corporate team, he is currently working to solidify plans to purchase space for his first location that is both well-fitted to his own goals and in a great spot to serve target customer demographics.

“LaundroLab has identified four areas they feel will be excellent for the customer base that they’re profiled to be their routine customers. So we’re targeting four different pockets of Nashville,” Meade explained.

As he grows his business, Meade says he aims to establish four locations over the next four or five years and is open to even further expansion in the future.

One of the most outstanding attributes of LaundroLab is its fresh approach to the laundromat format. While the ability to do laundry is a necessity for all of us, the laundromat industry as a whole has experienced a decline and established a poor reputation for itself. LaundroLab does things differently, providing access to the necessary resources in a clean, bright, well-kept space.

“The typical laundromat is maybe not viewed in the most favorable light, whether it be rundown equipment, poorly lit spaces or even kind of dirty or dangerous in some instances, this is going to be completely different from that,” he explained. “It’s going to be well-lit, have security cameras and just be a very open, safe environment that’s family-friendly. This will be a welcoming environment for folks to come in and do their laundry.”

A prospective LaundroLab owner needs $500k liquidity and a $1M minimum net worth. A new LaundroLab store can range anywhere from $1.1M - $1.7M, which includes equipment, buildout, franchise fee, working capital and more. For more information on franchising, visit https://www.laundrolabfranchise.com/opportunity.