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Barlow & Seelig washing machine, 1908. 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. [citation needed] In 1922, Speed Queen was the first company to introduce washers with nickel-copper tubs. The brand name "Speed Queen ...
The Speed Queen brand was created in 1928 with the introduction of stainless steel wash tubs in 1939 [10] and automatic washers and dryers in 1952. [11] Eventually Barlow & Seelig was renamed Speed Queen Company, and was later purchased by McGraw-Edison. In 1979, McGraw-Edison sold its appliance division to Raytheon Company.
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A franchise is merely a temporary business investment involving renting or leasing an opportunity, not the purchase of a business for the purpose of ownership. It is classified as a wasting asset due to the finite term of the license. Franchise fees are on average 6.7% with an additional average marketing fee of 2%. [10]
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