From Dorm Laundry to First Exit

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Alex Smereczniak built a $100M laundry business and sold 118 franchise locations in just 14 months. But just as the business took off, life hit hard. After a series of personal and professional crises, he stepped down as CEO. Now he’s back – not for another big exit, but to fix a franchise industry riddled with bad incentives and hidden fees.

Here’s what we talk about:

• Building a $100M brand from a college dorm laundry hustle
• The personal crises that forced him to walk away
• Why he thinks franchising is totally broken – and how brokers quietly take 60% commissions
• What he’s doing differently at Franzy: flat fees, transparency, no bullshit
• Why he’s not taking a salary, even with an $11M net worth
• What it actually costs – financially and emotionally – to scale fast
• The moment he knew he wasn’t the right CEO anymore
• Why he believes franchising could be the path for millions displaced by AI
• How he defines success today: not exits, but impact

Cool Links:

• Hampton https://www.joinhampton.com/
• Lower Street https://www.lowerstreet.co/
• Franzy https://franzy.com
• Alex Smereczniak https://www.linkedin.com/in/alex-smereczniak-%F0%9F%A6%81-40310329

Sponsors:

• Get US caliber talent at offshore prices with https://www.oceanstalent.com/
• Achieve your dream body with https://www.dailybodycoach.com/moneywise
• Protect your upside and get your time back at https://www.cressetcapital.com/moneywise

Chapters:

• (0:41) Early Entrepreneurship: College Laundry Business
• (1:31) Selling the First Business & Lessons Learned
• (2:47) The Moment Alex Reconsidered Corporate Life at Ernst & Young 
• (3:37) Returning to Laundry: The Startup Vision
• (6:07) Raising Capital & Startup Growth
• (10:40) Team Building, Hiring Challenges, and Culture
• (13:15) COVID-19, Franchising, and Business Model Shift
• (18:21) The Franchise Broker Problem & Franzy's Solution
• (20:45) Franchising as a Path to Wealth
• (24:03) AI, Job Displacement, and the Future of Work
• (28:30) Alex’s Personal Wealth, Fulfillment, and Impact
• (31:00) Reflections on Net Worth, Liquidity, and Success
• (34:40) Community, Support, and Peer Groups
• (40:02) The Sweet Spot: Wealth, Happiness & Freedom for Founders

This podcast is a ridiculous concept: high-net-worth people reveal their personal finances. Inspired by real conversations happening in the Hampton community.

Your Host: Harry Morton

• Founder of Lower Street, a podcast production company helping brands launch and grow top-tier podcasts.
• Co-parents a cow named Eliza.