I just prewashed an 8 foot piece yesterday. It was on sale for $2.00 a yard!!!
I used one of the mesh laundry bags from the $1.00 store and did not cut the edges. I then ironed it dry. Not a lot of wrinkles!
I kept the wet part of the material in a laundry basket under the floor and the dry onto a bed. Kept it very nice.
I then rolled it around a 6 x 24 inch ruler as you would a bolt, then slipped the ruler out. Folded into 3 folds and it lays very nicely in a drawer or shelf in a very small space.
Keeps it very neat and I can see at a glance what the material is :) :) :)