Speed Queen is a laundry machine manufacturer headquartered in Ripon, Wisconsin, USA. Speed Queen is a subsidiary of Alliance Laundry Systems LLC, which billed itself as the world’s largest manufacturer of commercial laundry equipment as of 2004.
Speed Queen makes a large variety of residential and commercial products, from 25-pound (11 kg)-capacity tumblers to 250-pound (110 kg) washer-extractors, as well as dryers. Its commercial machines are a popular brand for Laundromats, apartment buildings, and hotels.
Speed Queen makes a large variety of residential and commercial products, from 25-pound (11 kg)-capacity tumblers to 250-pound (110 kg) washer-extractors, as well as dryers. Its commercial machines are a popular brand for Laundromats, apartment buildings, and hotels.
The company was founded in 1908 by Joe Barlow and John Seelig as Barlow & Seelig Manufacturing. They got their start by taking existing machine designs and improving them. In 1922, Speed Queen was the first company to introduce washers with nickel-copper tubs.
The brand name “Speed Queen” was created in 1928. During World War II, it switched production to support the war effort, manufacturing 20 mm shells, and parts for airplanes, tanks and guns.
How long does a Speed Queen last?
Speed Queen washing machines are designed to last 25 years for over 10,400 cycles. That means you could use your Speed Queen machine for 20 hours a day, every day of the year for over two decades before it will wear out.
How much can Speed Queen hold?
Our top load and front load washers have the same cleaning performance. Speed Queen front load washers are designed to handle about 20 percent more weight (tested at a 22-pound capacity load).
Franchise Opportunity
With an above average rate of return for below average risk, nearly 94.8%1 of Speed Queen Laundry stores have seen success.
Our advanced solutions and industry-leading technologies make running a laundry business easy. In addition to real estate and construction support, they will provide you with operations and marketing playbooks to run your business strategically. Plus, with Speed Queen Insights you can control all of your Laundromats from a single website — regardless if you have one or 100 stores.
As a stable industry, Laundromats are resilient to economic downturns and consistently yield steady returns. Combined with low labor costs and minimum inventory, there’s never been a better time to enter the laundry business and join a franchise that’s revolutionizing the way Laundromats are run — while reinventing the entire laundry experience.
Speed Queen Financing
Whether you’re opening a new store, purchasing an existing one or simply looking to upgrade your equipment, Speed Queen provide flexible financing, competitive rates, no hidden costs and more laundry-specific financial tools and resources. Speed Queen Finance backs your business from top equipment to your bottom line. When you finance with Speed Queen, you get personal support from a dedicated finance professional who knows the laundry business.
How To Apply For Speed Queen Financing
Complete the one-page credit application and visit your local distributor to identify your equipment needs. Your distributor will assist you in preparing a complete finance package based on the amount of your loan request.
Typically, credit decisions are made within 24 hours of receiving a complete application package
Do you offer pre-approvals?
Yes, Speed Queen preapproval process allows customers to receive immediate feedback based on an estimated financed amount by submitting only a completed credit application and personal financial statement.
What are my cash investment requirements on a new store purchase?
Speed Queen will look to finance up to 70% of the total project cost, leaving the customer with a 30% cash investment. The total project cost consists of all costs associated with building the Laundromat, including equipment, leasehold improvements, construction, impact fees and all other relevant costs.
The loans can be prepaid in full or part at anytime without penalties. So there are no prepayment penalties.
There is no application fee. There is a one-time administration fee due after loan closing. The fee is $300.00 and is capitalized into the loan balance at the time of funding. Seasonal promotions, refinancing and acquisitions may deviate from the standard.
Apply for a loan now to open a store, or upgrade to cutting-edge Speed Queen variable rates and equipment and technology.