The coronavirus crisis has created a coin shortage nationwide, that has left retailers like laundromat owners, who rely heavily on coins, struggling. Many have found themselves short on the quarters needed to refill changers.
The Federal Reserve has recently revealed that the pandemic “significantly disrupted” the supply chain and circulation pattern for America’s metal money. The U.S. Mint has slowed the production of coins, in order to take measures meant to protect workers amid the crisis.
Coins just simply aren’t moving – certainly not at the volume they were pre-COVID. Closed bank locations, limited grocery store visits and retail transactions that slowed during shutdown, have all contributed to the shortage.
With the unpredictability of events such as this, it’s important to have options – a safety net. When the unthinkable happens, you need to be able to run your business in order to survive times like these.
Whether you’re looking to keep coin, offer mobile payments, loyalty payments, go card only, or offer several payment options with more flexibility, CCI has a solution for you.
Give yourself some peace of mind, and invest in the future of your business.
Contact us today for your free quote!
CCI’s products are not just card systems that allow you to accept alternative payments. Our products are advanced automation systems that provide you a holistic solution to running your laundry business. We are continually making improvements to our products to take your laundromat to the next level, and we are excited to announce our latest upgrade for LaundryCard, Version 9. At CCI, we design all of our products with both the operator and end user in mind and Version 9 for LaundryCard is no exception. With innovative features that benefit both end users and store owners, Version 9 is a must have for all LaundryCard customers!
Here are some of the great new features that come with the Version 9 upgrade for LaundryCard:
Version 9 introduces a brand new user interface, providing a refreshed, customizable user experience for both customers and store owners. We’ve simplified the old interface to be more appealing, with an updated design, easier navigation and a great new voice over.
Store owners have a unique marketing feature to keep their customers coming back with Prize Packages! As customers do laundry, they earn ‘wash points,’ which they can redeem for physical prizes at the store. Owners can choose what prizes they would like to offer and how many points it will take customers to earn each prize.
One of the most commonly requested features from CCI’s current customers was to have the ability to allow employees customized access to the LaundryCard system. With Version 9, they can! Owners can assign which screens their employees have access to, using the Customizable Management Screens features. Employees will only be able to see the menu items they have access to.
In order to accept EMV enabled debit/credit cards, EMV hardware must be integrated with the LaundryCard system. An upgrade to this EMV hardware also gives owners the added benefit of accepting NFC payments. That means customers can use their smartphones to add value right at the X-Changer!
With the Lost Card Recovery feature, in just a few quick steps, selected employees can assist customers with lost cards right at the X-Changer. The employee is able to search by a customers registration information and dispense them a new card with the same details and balance. Once this is complete, the lost card is marked invalid.
With the optional Integrated Camera feature, owners can monitor who’s interacting with the X-Changer. A webcam within the X-Changer will capture images of users purchasing and adding value to cards. This is a great added security benefit for store owners.
Version 9 is available now and orders are taken on a first come first serve basis, so make sure to get signed up today! Click here to learn more about all of the great features of LaundryCard Version 9. If you’re interested in learning more about LaundryCard or implementing CCI’s solutions in your laundromat, contact us!
Are you thinking about purchasing a card system for your laundromat? Do you have worries about it being an investment without a return? Here are three reasons why investing in laundry card technology has a high ROI and benefits laundromat owners and investors.
Build Float By having customers pay first and use a card system, it establishes customers with a sense of loyalty and encourages them to return. Float is the amount of money added to cards but has not been spent yet. As customers add more value to their cards, the ‘float’ of your business increases.
Ability to Sell Upgrades increase profits with a card system by offering your customers the ability to upgrade their cycles. Offset utility expenses by charging more for hot water.
Time of Day Pricing With a card system, you can charge different prices at different times of the day or different days of the week. This allows you to offer specials during slow times to attract business and raise prices during busy periods to maximize profits.
Marketing Tools Entice new business and reach new sales goals with marketing programs available through a card system like Loyalty Points, Bonus Packages, Free Dry and Group Discounts.
Simplify Employee Management Remote management of employees is possible with a card system. Create, edit and monitor one-time and ongoing employee work schedules for multiple locations. Allow employees to clock in and out for their shifts using the system for hands-off time management.
Remote Monitoring of Your Laundromat When you can’t physically be at your store, it is comforting to know that you can always access your laundromat from any remote location. Configure vend prices, specials, run reports, configure alerts, and monitor the status of the system and equipment in real-time from your laptop or smartphone.
Make the Most of Your Time Collecting coins from each machine in your facility is a time-consuming business and your time as an owner is valuable. As vend prices rise and stores get bigger, the physical task and limitations of accepting coins becomes greater, making eliminating the need for coins with a card system a popular choice.
Take Control of Your Revenue If you are paying another company to collect coins for you, that is money out of your pocket, combined with the uncertainty of how much is actually being collected. With a card system, you can see real-time profits and sales data for each machine without having to collect coins.
Decrease Security Risks Having to collect coins and carry around bags of money can compromise the safety of you and your employees. Your machines are susceptible to vandalism and theft, that can leave you with costly damage plus the loss of revenue until those machines are repaired. With a card system, you can minimize or eliminate these issues.
All of the features above can be found in CCI’s payment systems. Whether you’re just starting out in the laundry business or a long-time owner of multiple stores, CCI has a laundry card system to fit your needs. Our FasCard system is a hybrid solution that allows you to accept both coins and cards. The FasCard system works with existing coin laundry machines and doesn’t have a minimum card reader purchase, allowing you to start small with card readers and add more over time. If you are looking for a ‘card only’ solution for your Laundromat, our LaundryCard system is perfect for new and existing stores with 40 or more machines. LaundryCard is completely coinless, totally automated and rich in features.
If you’re a laundromat owner or investor looking to set your business apart from the competition, contact us today to learn more about our payment solutions and how investing in the right technology can benefit your laundromat business!
Laundry equipment manufacturers are continually upgrading their equipment with the latest technological advances. One of the latest innovations are machines with a high “g-force” number. But what is g-force technology, and what are the opportunities and costs for your laundry business?
A high-speed washing machine or high g-force machine has a faster spin with greater pressure during the final cycle that removes water from clothing. As g-force increases, the amount of water that is taken out during the spin cycle increases. The advantage of less water being retained in the load after washing is that it will then take less time to dry.
Washing machines with a higher g-force provide convenience to your customer. There is a decrease in the amount of time it takes for laundry to dry, and with less time in the dryer, wait times to use machines are reduced, which increases the speed in which your machines turn over. Thus, making the entire process of doing laundry easier.
When you use high g-force machines in your laundromat, you benefit from reduced utility expenses, since less gas and electricity are used when the drying time is shortened. Energy efficiency is maximized, which is better for the environment.
Your customers will spend less time using dryers, so your total sales from dryers might see a decrease. In order to offset any potential decrease in dryer sales, you can sell cycle upgrades (i.e. extra rinse/wash, charge more for hot water). Selling upgrades can have a positive impact on your bottom line, but only if your laundry payment system can support them properly. Our payment systems are fully compatible with selling upgrades because of their multi-vend interface.
If you’re a laundromat owner or investor looking to set your business apart from the competition, contact us today to learn more about our payment solutions and how investing in the right technology can benefit your laundromat business!
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.
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.
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, credit/debit payments and can even work with existing coin laundry machines.
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).
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.
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.
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.
Today, there are some 35,000 laundromats operating in the United States, generating over $5 billion in total revenue annually.
From Novice to Veteran: The Savvy Owner’s Guide To A Profitable Laundromat
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.
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.
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.
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.
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
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.
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.
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.
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:
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.
Is the store you’re looking at buying near another laundromat, you may want to consider doing some commercial recon on your potential competition.
If your competition looks to be fairly successful and nearby, then it may be a good idea to check elsewhere for a store.
Does your store have a good reputation for convenience and comfort? Does it need many renovations?
Does it have extra amenities and new technology, like:
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.
From Novice to Veteran: The Savvy Owner’s Guide To A Profitable Laundromat
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.
The FasCard system works with existing coin laundry machines and allows you to accept credit/debit, physical loyalty cards and app loyalty cards along with coins at your laundromat. It’s not just an alternative payment system – it’s a holistic laundromat management system that gives laundromat owners all the tools they need to succeed. One popular tool of FasCard and its latest release is the Employee Work Schedule feature. This feature makes running a laundry business easier and less time consuming by allowing you to manage work schedules and view employee hours worked. It lets your employees and attendants perform their job effectively by enabling them to clock in and out of work and view work schedules remotely.
FasCard’s Employee Work Schedule feature gives you the opportunity to automate and manage employee schedules remotely. Through the FasCard admin portal, you can create, edit and monitor one-time and ongoing employee work schedules for multiple locations. Recurring shifts may be scheduled to recur on a daily, weekly, monthly, or yearly basis. You can display scheduled shifts for individual employees and view work schedules by day, week or month. Employees may view scheduled shifts when logged into the FasCard loyalty mobile app by selecting the ‘Schedule’ option and the schedule scrolls vertically when swiped to show future shifts.
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The FasCard system’s Employee Work Schedule feature simplifies employee time management. Employees can now clock in and out from any FasCard reader in the store. An employee may swipe their dedicated card on a reader to clock in and clock out or scan a FasCard reader bar code with the Mobile App. You have the option to schedule a clock out ‘Grace Period’ for your employees which can help managed forgotten clock outs. When configured, the ‘Grace Period’ allows users to clock out within X minutes of scheduled end of a shift. If the employee does not clock out before the grace period expires, the system automatically clocks the user out. ‘Max Clock-In Hours’ denotes the maximum number of working hours within a given 24 hour period for users not currently scheduled – Users exceeding this maximum limit will be automatically clocked-out. Operators may verify the hours for completed shifts using the Employee Hours Report.
A FasCard system is a great choice for owners because it offers several management tools such as the Employee Work Schedule feature to help you automate and run your laundromat. Both the FasCard and LaundryCard systems simplify your life as an owner and take the stress out of managing a laundry business. Contact us today and let our experts help you find the best system solution that fits the needs of you, your attendants, and your customers!
FasCard Release 14 is full of optimizations that benefit your laundromat in more ways than one. A specific development that should be noted is the new Schedule Tasks feature. This feature gives you more control of your business while helping to keep you organized. Below are three key ways your laundromat benefits from the Scheduled Tasks feature!
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Scheduling repeating tasks helps keep your employees on track without having to micromanage their daily schedules. The system’s automation helps you organize without taking time out of your day. An operator now has the ability to set up repeating tasks like the ones listed below:
With this new FasCard feature your staff uses their smart phone to keep track of outstanding tasks. Attendants can view and edit the status both open and completed tasks, keeping you updated on store progress, and unlocks a whole new level of remote store management.
The Scheduled Tasks feature allows you the ability to run comprehensive reports on your attendants progress and their daily work. This opens up more opportunities to stay on top of your store while taking note of key employees and their efficiency.
Ready to get FasCard and the Scheduled Tasks feature in your laundromat? Contact us today to get started.
CCI’s products are not just card systems that allow you to accept alternative payments. Our products are advanced automation systems that provide you a holistic solution to running your laundry business. We are continually making improvements to our products to take your laundromat to the next level, and we are excited to announce our latest system update for FasCard, Release 14. At CCI, we design all of our products with both the operator and end user in mind and Release 14 for FasCard is no exception. The latest upgrade for FasCard has innovative features that benefit users, employees, managers and owners.
Here are the new additions included in the latest system release for FasCard:
1) Modern and Personalized Customer Benefits
2) Automated and Remote Employee Management
3) Added Features to Credit Card Processing
4) New Internet Services Available
Release 14 is available August 2017 and is provided at no additional cost to all FasCard customers. If you’re interested in learning more about FasCard or implementing CCI’s solutions in your laundromat, contact us today!
Card Concepts Inc. (CCI) designs all of its solutions with both the operator and end user in mind. Our FasCard system is an innovative payment solution that works with existing coin laundry machines and allows you to accept credit/debit, physical loyalty cards, virtual app based loyalty cards along with coins at your laundromat. We are excited to announce our latest product innovation for the FasCard system, the F2, a second generation FasCard reader. Usability, quality & reliability are priorities when creating any of our laundromat products and our new card reader is no exception. The F2 FasCard Reader is designed with the latest technology and many of its features are unique to CCI.
Here are the top ten features of the cutting-edge F2 FasCard Reader:
The F2 FasCard will be available for purchase later this year. If you’re interested in adding the F2 FasCard Reader or the FasCard system to your laundromat, contact us today to learn more.