Charlotte Angel Connection Episode 108: Alex Smereczniak, Co-Founder and CEO of 2ULaundry

Charlotte Angel Connection

Today we welcomed Alex Smereczniak, co-Founder and CEO of 2ULaundry, to the podcast. Many of you know the story of 2ULaundry as they have been operating out of Charlotte since 2016 (and we had his co-founder, Dan D’Aquisto as a guest on episode #7). Click here for the video version of the podcast. Yet, this was our first-time having Alex on the podcast where we learn he is originally from Redwing, Minnesota and went to college at Wake Forest. While he was at college, Alex and some friends started a laundry business catering to college students but they sold it as they were graduating. Alex then took on the “9-5” world with EY and moved to Charlotte. While there, he started to see some startups out west try to tackle the laundry problem and he couldn’t help but give it another shot – 2ULaundry was born in 2016. 2ULaundry is the new way to do laundry and dry cleaning that helps people make time for what matters most in their lives. Customers receive exclusive access to a full suite of offerings including flat rate laundry and dry-cleaning prices, free pickup and delivery, next business day turnaround, and more. We discuss their initial business model and lessons learned and various pivots along the way. In 2017 they vertically integrated without buying assets. He shares their successful story of their first retail location in Charlotte and the impact it has had on the business. We also discuss their expansion into Atlanta, plans to expand (including franchising), and growth in the industry in general. We discuss the fortunate timing of their capital raise in late 2019. Our discussion naturally evolves into Covid-19 and he discusses what they had to do to preserve cash – a constant theme for CEOs to think about these days. During the beginning months of Covid they watched and discussed what needed to happen and how they had to reposition themselves – as we learn it was a great time for a pause/refresh. We finally dive into the future and their decision to franchise and their growing relationship with Electrolux. As is the case with so many of these podcasts, you walk away with a very high impression of Alex and 2ULaundry after this podcast. The decisions CEOs of startups have to make under normal times comes through and the clarity with which Alex and the team have been able to pivot. For further information regarding a 2ULaundry Franchise, contact Alex Smereczniak at [e-mail]. William Bissett is the owner of and an Investment Advisor Representative of Portus Wealth Advisors, a Registered Investment Adviser. Registration does not imply a certain level of skill or training. Opinions expressed on this program do not necessarily reflect those of Portus Wealth Advisors. The topics discussed and opinions given are not intended to address the specific needs of any listener. Portus Wealth Advisors does not offer legal or tax advice, listeners are encouraged to discuss their financial needs with the appropriate professional regarding your individual circumstance. Investments described herein may be speculative and may involve a substantial risk of loss. Interests may be offered only to persons who qualify as accredited investors under applicable state and federal regulation or an eligible employee of the management company. There generally is no public market for the Interests. Prospective investors should particularly note that many factors affect performance, including changes in market conditions and interest rates, and other economic, political or financial developments. Past performance is not, and should not be construed as, indicative of future results.