Posts tagged "coinless"

Your customers are the key to the success of your laundromat. Understanding what their needs are, what they have come to expect in a laundromat, and their frustrations can help you increase customer satisfaction and in turn, the profits of your laundromat. On the other hand, failing to understand those needs can be detrimental to your business.

Below are four common laundromat customer complaints and how you can turn those problems into opportunities, by using the latest technology in your store.

Customer Complaint #1: “I never have cash on me.”

A large percentage of your customers rarely, if ever carry cash and find that it’s a big hassle to obtain cash and quarters. With our world becoming a cashless society, people don’t want to have to visit a bank or an ATM to do laundry, carry around a bag of coins or find out they can’t keep a load of laundry going because they’re shy a couple of quarters.

Solution:
Eliminate the need to pay solely with coins by offering card acceptance. Give your customers the choice to pay any way they choose! CCI systems allow you to accept credit/debit cards and loyalty cards. With FasCard, customers can even insert some coins and swipe their card for the remaining balance.

Customer Complaint #2: “I don’t carry a wallet. My wallet is my phone.”

Smartphones play an integral role in our lives. Today’s smartphone wallets store credit cards, tickets, coupons and more. Everything that was once in a consumer’s physical wallet is now in their digital wallet on their phone. Customers want to be able to pay with their phones and have come to expect to be able to do so with most goods and services.

Solution:
CCI’s FasCard system has a smartphone app that acts as a loyalty card. Customers who use the app no longer need to own a physical card but can use the app in the same way. They can take advantage of any of the loyalty programs you offer, and the app will keep track of it all.

Our complete card systems allow you to accept mobile payments, NFC payments, credit/debit payments and can even work with existing coin laundry machines.

Customer Complaint #3: “I don’t have five hours to sit and wait for laundry.”

Your customers have busy schedules and don’t want to spend leisure time doing laundry. Their time is valuable, and they don’t want the process of doing laundry to be time-consuming. If a customer’s laundry takes longer than expected due to events such as all machines being in use, it can create frustration and turns the experience of doing laundry into a negative one, likely preventing them from returning to your store.

Solution:
FasCard App users can see what machines are available without needing to physically be in your store, and they can also see the remaining cycle time of machines currently in use, giving them time to plan their commute and how long it will take to do their laundry. In addition, app users can request cycle completion notifications and even start a machine. When your customers do have to wait in your establishment, consider making it convenient by providing amenities such as free Wi-Fi or coffee (which can also increase your revenue).

Customer Complaint #4: “I want a personalized experience.”

It’s like the lyric in the Cheers theme song, “You want to go where everybody knows your name”. It’s cheesy but true. Customers desire to feel like they are wanted. They want to be appreciated and treated like a valuable part of your business. If a customer doesn’t feel welcome, they will most likely go to a competitor, and might even leave a negative review on your Google or Yelp page.

Solution:
FasCard and LaundryCard loyalty programs offer personalization by letting you establish discounts for certain groups (i.e. college students) or giving bonuses near your customer’s birthday. They also provide the ability for your customer to choose the language they prefer, and the system will remember their language preference and continue to display appropriately in the future. CCI systems offer many features that help you truly get to know your customers and effectively market to them, creating a memorable customer experience that can increase loyalty to your store.

Upgrade Your Laundromat

FasCard and LaundryCard from CCI offer the industry’s most advanced card payment systems, designed with both the operator and end user in mind. Contact us today to learn more about our payment solutions and how investing in the right technology can help you meet the needs of your customers and increase the profits of your laundromat business!

If you’re asking yourself if you should purchase a laundromat, this 6 point checklist will help you determine whether or not it’s the right investment for you.

History of the Laundromat

The first laundromat, then called a “Wash-a-teria”, opened its doors in Ft. Worth, Texas in the Depression-era 1930s. Soon, the popularity of laundromats exploded and storefronts spread across the country. The first laundromats were geared toward self-service—which was a change from the earlier commercial companies that laundered, folded, and pressed clothing as a complete service—which means customers paid by the hour to wash their clothing using early electric coin-operated washing machines.

These coin-operated laundry machines enabled those who were affected by the Depression and couldn’t afford personal washing machines another option: deposit a few coins and rent a washing machine for a period of time. Even after the rise of affordable household or in-unit washing and drying machines, laundromats have since never lost their enduring appeal for the convenience, economy, and ubiquity they offer.

Of course, laundry equipment has radically changed since the early 20th century. Tub washers made of porcelain or copper were replaced by sleek stainless steel top-load and front-load electric machines in the 1950s and 1960s. Large, power-consuming machines were ousted by energy-efficient, low water washers. Coin-slot mechanisms gave way to digital card-operated payment systems, which give laundromat owners abilities to remotely manage their stores in capacities never imagined.

Today, there are some 35,000 laundromats operating in the United States, generating over $5 billion in total revenue annually.

Mature Market: Laundromats Today

Modern laundromats have had to constantly update and keep abreast of the current developments in laundry technology to stay competitive, including the addition of amenities such as free Wi-Fi, flatscreen televisions, vending machines, and children’s areas with family-friendly entertainment.

Some laundromat owners choose to stay open 24/7—upping their convenience factor—and some are completely automated, meaning an owner, manager or employee doesn’t need to be in the store at all, while some storefronts have several employees to help patrons with services like changing cash or coin into proprietary store credit for vends.

Even considering these new trends in the laundry industry, the basic model of the self-service laundry industry has remained the same as it was over 80 years ago. Many things relating to the business model of laundromats has changed, however, including a higher return on investment with these more customer-oriented ancillary services and the ability for many owners to self-manage their stores remotely as absentee owners. Laundromats are so ingrained in the American landscape that it is considered to be a mature market.

Is a Laundromat the Right Investment For You?

Laundromats have become a canny choice for investors and entrepreneurs looking to play a minor role in the day-to-day operations of a business, who want to tailor a business to their exact wants and specifications—since most laundromats aren’t franchises—and who want the feeling of security that a laundromat’s steady income can bring.

If you’re thinking of buying a laundromat, it’s best to research what to expect in the buying process, management duties, and to add up the potential expenses, costs and bills along the way.

We’ve created this checklist of 6 items to cover in detail when buying a laundromat. With all of these tips come the caution of due diligence: A potential buyer will want to check everything thoroughly; talk to multiple owners, consult relevant professionals, like real estate agents, laundry machine maintenance and repair companies and experts and others.

Want to know the secret to running a profitable laundromat? Download our ebook — From Novice to Veteran: The Savvy Owner’s Guide To A Profitable Laundromat.

Use this checklist as a guide for what to expect when buying a laundromat.

1. Location

If there were ever a time to repeat old real estate platitude, “location, location, location,” it’s when you’re doing research on buying a laundromat. Locations in urban areas near

  • Clusters of apartment complexes,
  • In or near a university town, or
  • A tightly-knit, busy strip shopping center with other collaborative businesses and no competitors.

are the best bets for your laundromat. Multi-Housing facilities and apartment complexes usually have community area laundry rooms, but many residents are loyal to local laundromats. These types of residents that are spread across a sprawling multi-family property are the perfect demographic. Locations near colleges and universities are also attractive, with the vast majority of students using the services of a laundromat.

Don’t forget about a laundromat’s virtual location.

It is also a wise move to make sure that the laundromat business you’re interested in buying is listed on search engines, as many first-time customers choose which laundry service to patronize based on a Google search for “laundromats near me”.

If the laundromat you’re looking at has a good marketing strategy, they may even have an agency create web-based ads for the store. The more prominent a store’s presence in Google, Bing and Yahoo search engines and the higher its reviews on forums like Yelp!, the more likely the store to be profitable.

2. Expenses, Costs and Profit

Laundromats have few costly recurring expenses, but potential buyers—whether they are searching to buy an existing laundromat or even to build a new store— should be aware of each of these expenses. The lease for a laundromat’s actual storefront will be the highest monthly expense, and buyers in the market today should look for a lease term that is suited to industry standards. If possible, try to find a longer lease term that is amenable to your budget.

In many cases, however—if the current proprietor of the laundromat doesn’t own the location—they have a contract with a leasing company. This would mean that the lease would transfer over to you after you sign the contract.

Naturally, when buying any business, a solid budgetary plan is the first necessary step to factor the initial investment costs of a laundromat and recurring expenses. Whether you’re buying an existing space or building a new store from the ground up. If you are buying an existing space, the costs can range anywhere from $200,000 to $500,000.

Not to be overlooked when calculating overall expenses is possible renovation, which could mean the difference between a rapidly successful store and a business that sees only passersby. If you get a great deal on a store, there may be a reason the owner is selling so low. If the store is just barely hanging on, rundown with equipment in disrepair, completely revitalizing and renovating the laundromat could turn the former derelict store into a profitable business, buzzing with constant activity and foot traffic.

3. Management

How much time an owner spends in their store is entirely dependent on the owner’s prerogative. An owner can spend as little or as much time in their store as they want. Laundromats are particularly amenable to absentee owners, due to the automated, self-service nature of the business and new technology like digital card payment systems.

If an owner invests in digital card payment systems, loyalty cards which can be used to pay for vends at that store can be dispensed automatically via a payment kiosk without the need for an in-store attendant. Customers also add value, and redeem loyalty program benefits, discounts, and promotions right from the X-Changer kiosk.

4. Equipment

Check the existing equipment thoroughly. If you aren’t experienced in testing commercial laundry equipment, do some research on the washing or drying machine operation, read relevant model manuals, or call the specific manufacturer to get some information. You can also contact a laundry repair service and see if you can have a professional assist you in helping to inspect the machines.

Take a fine tooth comb to the machines, are they large industrial washers and dryers? Do they look clean? How old are they? Current maintenance or problems? Do they have digital payment systems, like FasCard and LaundryCard, or is it a coin-only laundry?

Some of the most common problems with washing and drying machines to add to your assessment checklist are:

  • Noticeably broken equipment (“out of order” signs, missing components),
  • Visible damage to machines,
  • Leaks,
  • Age of the equipment,
  • Failures in the drain systems of the washers,
  • Agitation mechanism washers (e.g. too fast, too slow, not functioning at all),
  • Abuse—dented, broken, or substandard quality machines
  • Coin-slot mechanisms (if applicable),
  • Digital displays on touchscreen card readers (if applicable).

Also, if the potential store is outfitted with digital laundry payment systems, either cashless card-only and coin-and-card systems, the possibility of a large amount of “float” could add to the appeal of the store.

5. Competition

Is the store you’re looking at buying near another laundromat, you may want to consider doing some commercial recon on your potential competition.

  • Is there a competitor within a two mile radius from the store you’re looking at buying?
  • Is there more than one laundromat within that radius?
  • Do they have a loyal customer base?
  • What is your competition’s demographic?
  • Are your competitors open 24/7?
  • Do they offer “fold and dry” or dry cleaning services?

If your competition looks to be fairly successful and nearby, then it may be a good idea to check elsewhere for a store.

6. Additional Revenue Sources

Does your store have a good reputation for convenience and comfort? Does it need many renovations?
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Does it have extra amenities and new technology, like

  • Digital card readers for machines,
  • Vending machines (both food—cold drinks, coffee, and snacks—and washing detergent and dryer sheets),
  • Free Wi-Fi,
  • Flatscreen televisions,
  • High efficiency machines, and
  • Full-time staff?

A laundromat can be one of the wisest business investments, with due diligence on the part of the investor and a few upgrades, a laundromat storefront can become and continue to be a profitable investment for years to come.

Learn more about investing in and running a profitable laundromat by downloading our guide to a profitable laundromat.

If you would like to learn more about buying a laundromat or digital card payment systems, Card Concepts Inc. is here to help. Contact CCI for more information.

FasCard is an electronic payment and management system designed to allow laundry businesses an easy way to improve profitability by allowing their customers multiple payment options. FasCard is perfect for any business that currently accepts cash or coin payments on laundry equipment that wants to either eliminate coins or supplement coins with debit and credit card acceptance. FasCard can also be configured to accept loyalty cards which can greatly improve customer retention and increase profitability. FasCard not only provides additional payment options but can monitor the existing coin/cash payments.

FasCard readers can be installed on almost any kind of self service equipment that natively accepts coin or cash. FasCard not only lets you accept debit cards, credit cards and loyalty cards on your washers and dryers, but now also lets you accept these alternate payment options on your vending equipment. By installing FasCard on your vending machines and accepting card payments, you can increase your revenue and provide a faster, more convenient experience for your customers.

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FasCard is compatible with many different makes and model vending machines, as long as the host vending machine is MDB Level 1 compliant. Increase your soap sales and install FasCard on your soap vending machines. FasCard is compatible with all of the electronic vendors from Vend-Rite Manufacturing, including the VendMaster 360, VendMaster 240, and all Vision glass front vendors.

When your customers are able to use card payments on your vending machines you will sell more products and bring in additional revenue to your buisness. Ready to install FasCard in your facility? Contact us today to learn more about implementing FasCard in your laundromat!

For years now, mobile has been on the rise. Since consumers are able to access information from anywhere and at any time via their mobile device, the mobile marketplace has grown, offering users more convenient ways to do things like shopping and banking. Now, consumers can pay just by tapping their phone, or bank without ever stepping foot inside a building.

To keep up with technology and the growing rate of tasks users are able to accomplish with their phones, we’ve created an app for use with our FasCard system. Available for both iPhone and Android, the FasCard app allows laundromat customers to remotely start and monitor their machines, add money to their account and more.

 

Scan to Select a Machine

While customers can manually choose which machine they would like to start via their smartphone, one of the biggest features of the FasCard app is the ability to use their phone’s camera to activate their machine. When users go to ‘Quick Start’, their camera will prompt them to scan the code on the machine’s card reader: a near effortless way to start their laundry.

 

Add Value Directly From the App

Customers will no longer need to be in the store to load money on their loyalty card. They can now load money from within the FasCard app itself, completely eliminating the need for cash and streamlining business.

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See Machine Availability and Remaining Cycle Time

App users can see what machines are available without needing to physically be in the store, and they can also see the remaining cycle time of machines currently in use, giving them time to plan their commute and increasing customer satisfaction. If desired, customers can even request email notifications when their cycles complete!

 

A Loyalty Card System, Without the Need for a Physical Loyalty Card

With all of these features, the FasCard app acts as a loyalty card. Customers who use the app will no longer need to own a physical card, but can instead use the app in the same way. They can take advantage of all of the loyalty programs at their favorite stores, and the app will keep track of it all. Or, if they forget their loyalty card one day, they can use the app, because functionality between the app and physical cards are interchangeable.

The FasCard app will streamline the way customers interact with FasCard enabled machines and do their laundry, which will improve customer satisfaction, increase profits, and grow business. In addition, the FasCard app fits in seamlessly with both multi-unit laundromats and stand alone stores.

Ready to put the FasCard system in your laundromat and increase your profits with the FasCard app? Contact us today and get started with a modern laundry room that is easy for customers to use, and even easier for you to manage.

Karl Hinrichs has been in the commercial laundry business since 1980 and is the president of HK Laundry Equipment, Inc. Since 1967, HK Laundry Equipment, Inc. has been serving New York and Connecticut with laundry equipment, service and repair and training and support. HK Laundry Equipment, Inc. is a distributor of CCI’s FasCard and LaundryCard systems.

How did you get involved in the commercial laundry industry?

In 1967, my father and neighbor formed a partnership equipping stores with washers. When I was 13 years old, I would bring my toolbox up there, and by the time I was 16 years old, I was out fixing the machines. In 1980, I was working as a chemist and my father made me an offer I couldn’t refuse. I went to work with him and I have not looked back. I’ve now been in the business for 36 years.

What are the challenges that laundromats are facing today?

The biggest challenge is maintaining profitability with the increase in water and sewer rates. Water and sewer costs have become a very expensive utility expense for laundromats. Many water supply and sewer improvements have caused huge capital costs that local towns and counties have passed along to water consumers. Laundromats are one of the biggest consumers of water and are at the mercy of local water municipalities and their water rates. To maintain profitability, laundromats need to keep an extra eye on their expenses and increase vend prices accordingly. 

What major trends are you noticing in the laundromat industry today?

More and more people are going to a cashless society. This month I saw a study come out that said over 50% of transactions are now electronic. The time spent in coin laundromats emptying quarters out of the machines, counting them, and filling bill changers two to three times per week is very non-productive. Until you go to an alternative payment system, you are going to max out at 12-16 stores, because after that you are running around processing quarters all day long. 

What trends do you see for the future?

Laundry card systems are the way of the future. The biggest evolutionary jump is eliminating the quarter. There is a high initial entry price, however, laundromats save money and time in the long run and the operator doesn’t need to physically run the store. With card operated laundromats, there is no limit to the number of laundromats you can operate and you can spend your time focusing on managing your business rather than processing quarters.

What are your thoughts about laundromats using incremental vend pricing with card systems in order to be able to raise a vend price by a few pennies instead of a quarter? 

I like it. I’ve done it with pennies but I actually prefer nickel incremental pricing. Incremental vend pricing is a huge advantage of implementing LaundryCard over FasCard, because you are able to increase your pricing by an amount less than a quarter. When your water rates go up, you can take advantage of incremental vend pricing by increasing the cost of your washers to help you absorb the increase in utility expenses. 

What’s the best way today for a laundromat to increase the value of their laundromat business?

Investing in a card laundromat system. You know exactly up front what the revenue is for the store and operating that card store is much easier. With coin operated stores, you have to be there at least 2-3x per week. With a card store, all you need is a trusted individual to collect the paper receipts because you know your true business numbers and exactly how much is in there. When you’re buying a business, it’s based on profitability. You can increase the value of a laundromat by increasing the multiple at which the store is valued. If your store has laundry equipment with a card system, then you are increasing the multiple because the store is worth more. The more automated and hands free you can make your laundromat, the higher the multiplier of the profit and the higher the value of the store. A card laundromat is an investor rich system whereas a coin laundromat is an owner operated system. 

What advice would you give a new store owner just getting into the laundry business?

I would suggest doing as much research as possible. A laundromat business is capital intensive and you really want to make sure you have the best distributor, equipment and location. You want to partner with a distributor who has been around at least 10-15 years, knows the area, and knows about running a laundromat.

Art Jaeger, after a 20 year career in the music industry including tenure as an executive vice president at Capitol Records, knew he wanted to start his own company. But he also wanted an investment that was going to last.

So Art devised a checklist to grade multiple business investments by with very strict criteria, including, an investment that only needed a small number of employees, the capability to be self-financed, the ability to be an absentee owner or spend less time in store if he wanted, and an investment that retains its value, so he could sell quick near original buying price if necessary. After attending a laundromat industry trade show, Art decided on investing in a laundromat and procuring the newest in laundry technology.

He was immediately interested in the digital laundry tech that he previewed at the laundry trade show. Art saw innovation in key features and benefits like laundromat automation, remote online store management, digital credit/debit card payment, and loyalty marketing programs when he received a demo for a digital card-only LaundryCard reader from Card Concepts Inc (CCI).

He used the LaundryCard digital laundry payment system to transform his vision of a fully-automated, all digital coin-less laundromat into a highly profitable reality. A laundromat equipped with digital card readers turned out to meet all of his criteria for a wise investment.

Cyndia Zwahlen and Shan Li, in an article for the LA Times, noted his business acumen and plan for a future-proof laundromat, saying,

In Sherman Oaks, the Oaks Express Laundry Center opened last fall with banks of high-capacity, front-load washers, a full- time attendant and a card payment system that enables the owner to add bonus dollars to customers’ cards, tweak individual machine prices electronically and track machine use via remote computer.

The write-up continues, with the LA Times putting the spotlight on Art’s laundromats and the Card Concepts Inc. (CCI) equipment he chose to outfit and automate his storefronts with:

It’s a formula owner Art Jaeger came up with after building four other laundries.

“I build laundromats that are intended to attract people that ordinarily might not go into a laundromat,” said Jaeger, a former record company executive. He said his per-store revenue is in the top 10% for the industry. Jaeger got into the business after attending an industry trade show.

From his two decades of experience being a senior executive in the music industry, Art was experienced in networking and keeping to the ear ground for the latest developments and technology for whatever he was passionate about. So of course, Art was one of the first to know first-hand about anything cutting-edge in the laundry industry:

Like many other recent new investors in the old industry, he was impressed with the possibilities offered by the new card systems, the potential of larger-scale stores and the efficiencies of the latest machines.

“I realized,” Jaeger said, “that the business was on the cusp of changing.”

Not only was Art featured in the LA Times, but Card Concepts Inc. (CCI), the manufacturer of LaundryCard, also caught up with him in one of his California stores. He spoke about his experiences of automating his laundromats with digital coinless card readers.

Art learned that with LaundryCard naturally came “float”, or the amount of unused funds left on a self-service laundry loyalty card. These amounts over time can add up to large sums of money each month, in some cases, float can pay for the implementation and cost of the digital card systems and loyalty kiosks that accrue it, or equal the average rent on a laundromat facility.

In a short video created by CCI on his success with LaundryCard in his laundromats, Art said,

“By definition, you’re always going to have ‘float’ in this business. And that is the difference between the customers who place money on their card and how much they use on their LaundryCard to actually start washers and dryers… I would have to say that in my Santa Clarita store, the float alone has paid for the entire LaundryCard system.”

“In the years that I’ve been using LaundryCard in all of my stores, I have found the customer experience to be an extremely positive one. There’s not a week that goes by when I don’t have customers coming to thank me that they no longer have to tote around tons of quarters, especially when you have machines that could require as many as 70 quarters.”

Art continues to be a multi-store owner of a cluster of profitable stores in the Los Angeles-area. We at CCI are very happy to see Art receive the recognition he deserves for his hard work, business savvy, and insight!

Reclaim your most profitable asset from laundry route operators

Are you tired of outsourcing your laundry room service to laundry route operators? Giving a set of keys to another company like a laundry route could mean you’re missing out on the majority of profit from your most valuable on-site asset.

Laundry route operators are a ubiquitous presence at multi-housing properties. These large, national route corporations close deals by promising to supply laundry equipment, maintain it, and make regular collection rounds. You may not realize that the machines in your building could be generating thousands of dollars. Route deals typically include a revenue split, with a portion going to the property owner and the rest to the laundry route operator. Sounds like a great deal… Or does it?

Rethink your situation

Well, it certainly depends. What kind of money are we actually talking about here? If the machines are constantly filled to capacity with vending funds, that could translate into a lot of revenue at the end of the month—quite possibly more than the initial investment startup cost, which at first seemed like a no-brainer deal when offered by a laundry route company. You have to wonder, if a sizable cut of the collections weren’t continually profitable—far beyond what fraction route corporations give back to properties—how would a company be able to offer all this?

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And since most laundry route operators are generally very secretive about the amount of money they collect from your machines, you don’t know how much you’re making a week or per month. Not getting the real figures could mean you might not ever know if you made the right decision.

Reroute away from split profits

What if you were able to take back full control of your laundry room, while retaining the convenience of a laundry route operator

With FasCard, our premier smart laundry card system, you still won’t have to deal with quarters if you don’t want to. Your laundry machines will continue to have the ability to accept them, but this means that residents will be given the option to choose which payment method works best for them. And with more options to pay comes more sales, and in turn, more profit. 

Reboot with a digital card-op payment system

FasCard is the premier digital card-payment system which becomes your full-service laundry route operator. By making the move away from outdated laundry routes to FasCard, you will be able to:

  • Attract potential tenants by increasing the appeal of your amenities;
  • Allow current residents to receive wireless notifications about their machine’s progress;
  • Adjust the time-of-day vend price in penny increments;
  • Choose your own merchant processor;
  • Access data from your machines remotely;
  • Shut off machines that are being serviced via smartphone;
  • Charge more or less depending on water temperature (which offsets utility bills, such as electricity, gas, and water);
  • Implement a loyalty card program, which will allow residents to,
    • Load up value using cash or credit/debit cards at self-service kiosks
    • Pay using their smartphones

FasCard allows you reestablish control over your laundry room. With a sophisticated card-operated laundry payment system, you get the benefits of a route, but none of its disadvantages—meaning you get the entirety of the profits, are not subject to the competence of the operators, and you know exactly how much money you’re collecting from your machines. And with its smart phone interface, you have the entire administration of your laundry facilities at your fingertips.

Why split profits with someone else? With FasCard, you can eliminate coin, automate equipment, and regulate revenue.

Our premium whitepaper, “Must Know Tips on Managing a Multi-Unit Laundry Room”, is a must-read for anyone in the multi-housing industry. Get the basics and more advanced tips and techniques on managing your laundry room today. Or, to learn more about FasCard today, give Card Concepts Inc. a call at 1 (866) 860-1660.

Let’s talk about card-op laundry payment

If you’re feeling stuck in a rut; tracking down laundry route operators, dealing with bags filled with dirty quarters, and paying for the maintenance of old coin slot laundry payment systems—it may be time to re-think your laundry payment setup.

Card-operated payment for laundry equipment isn’t a new solution. In fact, the concept has been around for many years. Yet many card-op systems of the past have been clunky, hard-to-manage, and unreliable.

Today, a few of the leading companies in laundry payment management have perfected their payment products for maximum usability, reliability, and ease of use. These state-of-the-art products and services provide valuable benefits to residents and property managers alike.

While there are an untold amount of reasons for switching to a card-op laundry system, if you’re a property manager that currently has all coin-op laundry machines, here are seven benefits to implementing a coinless payment system in your laundry room:

1. Save time, money and gain peace of mind with a hybrid card/coin-operated laundry payment system

Collecting the coins from each machine in your facilities is a time-consuming business. Even if you pay a laundry route to do it, that’s still money out of your pocket. And unfortunately, there are still the security risks that coin-operated machines present, as well as the uncertainty of how much is actually being collected.

Hybrid card-op laundry payment allows you to audit the amount of both coin and card sales in each of your machines. As your money boxes near capacity, you can be alerted by email and schedule the right time to have them emptied.

Plus, with an accurate system of accounting for your machines, you know that your collections are being correctly deposited. Hybrid coin-and-card systems allow you to take the worry and complexity out of dealing entirely with coins alone and save you precious time.

Ready to eliminate coins all together? No problem. The same hybrid coin-and-card equipment can be also configured to accept cards only.

Automate your collections and simplify your laundry room. Turn your two hour routine of collecting every quarter from multiple machines into a smooth five minute detail.

2. You don’t have to buy all new machines, retrofit your current machines to accept cards

Adding a digital card-op laundry payment solution does not always mean you have to replace your existing laundry equipment. In most cases, if your laundry equipment has a computerized timer or utilizes a coin drop rather than a coin slide, they are already compatible with card systems.

Payment retrofitting allows you to turn your existing laundry facilities into lean, card-operated, profit-making machines.

3. Regulate vend price incrementally

Let’s face it, the utilities needed to run a washer and dryer are not free, and gas, water, and electricity prices fluctuate daily. Having the ability to remotely change the vend price based on your utility costs will ensure that your laundry room maintains an ample profit margin.

If you make the move to card-op laundry payment for your machines, you can also stop vending your equipment in 25 cent price increments. Raising your vend prices a few pennies per cycle will have a major impact on your gross sales and often will cost justify the investment in the system in just a short time frame.

4. Access your machines remotely from any internet-enabled device

Payments are received and deposited over the internet for most laundry payment services. You can remotely view sales reports and usage statistics, as well as your systems’ statuses. These features can all be accessed from your mobile device, PC, or Mac computer in your office or at home.

5. Your residents will love it

When’s the last timed you had more than a dollar in quarters in your pocket? Now, vending machines, fast food, and even your cup of coffee, can be paid via plastic.

Many of your residents will be relieved to have the option to pay for their laundry with a debit or credit card. And if some of your residents want to pay with cash, a hybrid card-and-coin-op option with an attendant loyalty card will suit their needs.

Better yet—with the FasCard app, your residents can use their smartphones to pay for their washes and view their machine’s status in real-time from anywhere. They can see which machines are in use and when new ones will become available. And, once they get their laundry started they can ask the system to notify them when their cycles are nearly complete!

6. Eliminate refunds and start equipment remotely

Ever get call from a hostile resident who just lost their quarters in one of your washers or dryers? How much time and money does it cost you to deal with a failed $2.00 wash cycle that’s failed? With cloud-based, connected digital payment systems, you can send a remote start to any machine and resolve a tenant complaint instantly. It only takes one quarter to jam one of your machines—don’t let twenty-five cents cost you hours of productivity.

7. Don’t want to accept credit cards? Try a loyalty card

Adding a card system does not mean you have to accept credit and debit cards. Alternatively, you can distribute what what are referred to as “loyalty cards” and have your tenants add funds to them with cash or through a rent adjustment.  

This option eliminates the need to pay merchant processing fees and still gives you the flexibility to manage and control your laundry room. Loyalty cards can be reloaded via a metal kiosk located in the laundry room or in a secure area near your office.

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Managing a multi-housing building isn’t easy. Turn the burden of dealing with your laundry room into a breeze with our premium whitepaper, “Must Know Tips on Managing a Multi-Unit Laundry Room”.

Card Concepts Inc. (CCI) offers high quality card-operated laundry payment solutions through our LaundryCard system, hybrid coin-and-card operated solutions through the FasCard system, and many more options for the self-service laundry industry, including:

  • Secure touch screen kiosks
  • Loyalty programs
  • Marketing resources
  • Wireless data tracking

Give us a call today at 1 (866) 860-1660 and let our experts tailor fit the best solution for your laundry payment needs.

So you are looking to get into the laundry business. You’ve done your due diligence researching to the very best of your abilities the realities and logistics of opening a laundromat. You’ve spent hours on planetlaundry.com, on the ground finding out the going rate on local laundry franchises, maybe even visiting some successful laundromats in your area.

But once you have your basic business plan down for opening your very own laundromat, there’s just one question left: Do you stock your laundromat with coin operated laundry equipmentcard operated laundry machine equipment, or both?

BenBiz.com has a great article on the pros and cons of owning a coin laundromat, an all digital card operated laundromat, and a laundromat with hybrid card-and-coin operated machines.

We at Card Concepts Inc. wanted to highlight a few excerpts from the article, Buying A Laundry: Coin Operated Laundromat Or Card Operated Laundromat? which are included below, but if you would like to read the article in full please click on the link.

“More and more we see “Coinless Laundromats“. Anyone in the business or entering the business will face the age old question; Coin or Card? Well, perhaps it’s not an age old question, as card systems haven’t been around very long, but it is a question worth considering.”

“Your management style or how you want to spend your time will also be important. A card store would be good for the person who doesn’t want to collect coins (and that can get old), wants to track all transactions, wants accurate and automatic accounting and wants to evaluate productivity of each machine.”

If you are looking for a ‘Card Only’ solution for your coinless laundromat, look no further than our LaundryCard system, focused on automating your laundromat by eliminating coins, employee management, store marketing. Learn more why coinless laundromats make good investments and if you’re a current owner who values precious free time but feel like you have less and less these days, read this article of tips on managing your laundromat remotely.

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“The hybrid systems seem to be taking over and make a lot of sense to me. Again, with this system you can do it all.  Most importantly you can take payment in any form.  If receiving payment via cash, loyalty card and credit card is good enough for Macy’s, Starbucks, Wal-Mart and the like it should be good enough for a Laundromat.”

“The hybrid store does not require that you have a reader on every machine.  This allows you to experiment with a system without paying the high price of doing an entire store.”

If you are looking for the perfect ‘hybrid’ coin-and-card operated laundry payment system then learn about our FasCard solution. With FasCard, you are able to easily modify your existing laundry machines to accept debit or credit cards and loyalty cards, while still being able to accept coins as regular coin operated laundry equipment.

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What can Card Concepts Inc. do for you? Learn more about how the revolution in smart laundry products is changing the question of laundromat owners from Should I use card or coin-operated machines in my laundromat? to Would my customers prefer hybrid card-and-coin operated machines or solely card-op laundry machines?”

Source article link: Buying A Laundry: Coin Operated Laundromat Or Card Operated Laundromat?