How to Start a Laundromat Business: Part 8
Laundrylux is very excited about the launch of LaundryPay, our exclusive smartphone app that gives laundromat customers control over their laundry experience. With LaundryPay, your customers can pay for their wash directly from the LaundryPay app, earn loyalty points for use in your store, and even check machine availability before leaving home.
To coincide with the launch of this game-changing technology, this month’s How to Start a Laundromat post is all about the different types of payment systems available to laundromat owners and how you can choose the right system for your store.
In a hurry? Jump to our quick tips section.
Laundromat Payment: It’s No Longer Coin vs Card
Traditionally, the dilemma for laundromat owners was simple: coin vs card. We will explore the pros and cons of both of these options below. But with the launch of LaundryPay, customers can experience the most convenient laundromat payment method with a host of added benefits. So before exploring traditional technologies, let’s dive right in and explore the ultimate laundromat payment system.
Coins, Cards, or LaundryPay — whatever payment system you choose, Laundrylux can help you build a profitable laundromat business. Talk to an expert today!
LaundryPay — The Ultimate Laundromat Payment System
If you want to offer customers the ultimate in laundromat convenience, LaundryPay is for you. Designed by laundry business experts, the LaundryPay app is sure to be the best laundromat payment system for Electrolux store owners. Our smartphone app not only allows customers to pay with their mobile phone but also gives them complete control over their laundromat experience.
LaundryPay is The Easiest Way To Pay
Once customers have downloaded the LaundryPay app to their Apple or Android device, they can add funds anywhere and anytime using their credit card, debit card or EBT card.
With funds in their account, they simply scan the QR code on the machine they would like to use, and LaundryPay does the rest. No need for quarters, no need to bring a credit card — everything your customers need for a convenient laundromat experience is right there on their phone!
Want to provide a cash option? Add a kiosk to your store.
If you would like to give customers the option to add funds to their LaundryPay account using cash, simply add a LaundryPay kiosk to your store. Your customers get all the benefits of LaundryPay, without the need to use a credit, debit, or EBT card.
LaundryPay Has Many Extra Benefits
LaundryPay is more than just a laundromat payment system. Your customers will love all of the extra benefits of our smartphone app.
LaundryPay’s Optional Built-in Reward Program
Do you want to set up a loyalty program to keep customers returning to your laundromat? Look no further — LaundryPay has an optional reward program built into the smartphone app. If you choose to enable this program in your store, customers can earn reward points which can be redeemed for a free wash or dry, giving them even more incentive to choose your laundromat over the competition.
Ultimate Convenience with LaundryPay
Through the LaundryPay app, customers can check machine availability at your store anytime and anywhere, meaning they’ll never need to wait for a washer again. They can also receive notifications when their cycle is complete, giving them the freedom to run errands or grab a bite to eat while they wait.
LaundryPulse: The Revolutionary Digital Laundromat Management System
LaundryPay works together with LaundryPulse, the ultimate laundromat management system from Laundrylux. This powerful software gives you the ability to run your store — or multiple stores — directly from your laptop. When you equip your store with LaundryPulse and LaundryPay, you’ll be entering the future of laundromat management.
Visit the LaundryPulse website, to learn more.
Traditional Payment Systems: The Pros and Cons of Coin
1. Coin Operated Payment Systems
Many prospective laundromat owners enter the laundromat business assuming that customers will pay for their machines with quarters. And while there are more advanced systems available, for some, coin is still a viable option.
2. The Pros of Quarters
A great thing about coin is its availability. Just about everyone has access to coins — something to consider if your laundromat is in a neighborhood where not everyone has a credit card. Coin systems are also suitable in areas with a lot of temporary residents like tourists or seasonal workers who may only want to use your store a few times and are not interested in loyalty programs.
3. The Cons Of Cash
Security, vandalism, and maintenance are the downsides of choosing coin as your main payment method. For owners of fully-staffed laundromats, these may not be major concerns. But if you plan to open a self-service coin store, you’ll need to plan for regular visits to your premises to empty coin boxes.
Remember! With LaundryPay, customers can use cash to top up their accounts. Simply add a LaundryPay kiosk to your store.
Traditional Payment Systems: The Pros and Cons of Cards
1. Card Payment Systems
A step up from coin drop boxes is card payment systems. Card payment systems come in two main forms — there are simple card readers that allow customers to pay with credit/debit cards, and there are systems where customers can purchase and top-up a prepaid laundry card.
2. The Pros of Plastic
Many customers routinely use credit cards as their primary payment method. By equipping your machines with a credit card system, you may see these customers choose your store over your competition.
3. The Pros of Pre-Paid Laundry Cards
Prepaid laundry cards have many benefits over coin systems, though almost all of these advantages also apply to LaundryPay. Benefits include customer loyalty (customers may have a balance remaining on their card, so will return to your store), security and labor savings (without coin boxes, vandalism and collecting quarters are not a concern), and pricing flexibility (your pricing strategy is no longer tied to $0.25c, allowing you to set any price you choose).
4. The Cons Of Card
Owners who already have a card system in place may find that it has many benefits. But if you are opening a laundromat, card systems may fall into an awkward middle place between traditional coin systems and a modern smartphone payment system like LaundryPay. More and more consumers are predicted to move towards mobile payment in the coming years and store owners may find card systems are out-of-date before long.
Remember! LaundryPay offers many extra benefits besides easy payment. Machine availability, wash notifications, and loyalty rewards!
Quick Tips for Entrepreneurs in a Hurry
★ Coin, card, and now the LaundryPay smartphone app are the main options for laundromat payment systems.
★ Before choosing a payment system, consider your management style and the payment preferences of your customers.
★ Coin is the traditional laundromat payment method. The main pro for coin is the fact that almost everyone has access to cash. The main downside is the security/vandalism concern associated with coin boxes.
★ Card payment systems offer many benefits but may soon be out of date.
★ LaundryPay is the new payment system/ smartphone app available for Electrolux Professional and Wascomat Commercial equipment.
★ Laundromat customers can pay through the LaundryPay app, check machine availability before leaving home, and earn loyalty point towards a free wash or dry.
Ready to take the next step? Contact Laundrylux and speak to a laundromat expert today. Our sales team can help you choose the right payment system for your store.Contact Laundrylux today!
Helpful Resources:
★ For the highest-quality, energy-efficient washers and dryers, choose Electrolux Professional Coin Laundry Equipment.
★ Do you need laundry business financing? Laundrylux Funding Services can help.
★ Looking for marketing services for your new store? The experts at Laundrylux Creative Services can help make your laundromat a success.
★ Looking for experts in your area? Laundrylux has a huge network of local laundry experts. Contact us to be put in touch with your local expert today!
Related Resources
Blog Article The Inside Scoop on Soft-Mount Washers
Blog Article The Great Debate: Soft-Mount vs. Hard-Mount Washers
As an enthusiast and expert in the laundry business and the various payment systems used in laundromats, I can confidently delve into the article "How to Start a Laundromat Business: Part 8" and discuss the concepts it presents. My expertise spans the nuances of traditional payment systems like coins and cards, as well as modern innovations such as LaundryPay – a revolutionary smartphone app transforming the laundromat experience. Here's a breakdown of the concepts mentioned in the article:
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LaundryPay: This is an exclusive smartphone application introduced by Laundrylux, designed to empower laundromat customers with control over their laundry experience. LaundryPay enables users to pay for laundry services through the app, earn loyalty points, and check machine availability remotely.
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Types of Payment Systems:
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Coins: The traditional method involves customers using coins for machine operation. Its pros include widespread availability but comes with cons like security concerns and the need for regular maintenance.
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Card Systems: These systems come in two main forms - card readers for credit/debit cards and prepaid laundry cards. They offer benefits such as convenience, security, and customer loyalty, yet they may become outdated with the rise of more advanced payment methods.
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LaundryPay: A modern smartphone app offering ultimate convenience, allowing users to pay through their phones, check machine availability, and participate in loyalty programs. It eliminates the need for physical cash or cards.
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Benefits of LaundryPay:
- Ease of Payment: Users can add funds using credit cards, debit cards, or EBT cards and simply scan a QR code on the machine they want to use.
- Extra Features: LaundryPay provides benefits like a built-in reward program, machine availability checks, and cycle completion notifications.
- Integration with LaundryPulse: LaundryPay works alongside LaundryPulse, a digital laundromat management system, allowing remote management of the store(s) from a laptop.
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Considerations for Entrepreneurs:
- Management Style and Customer Preferences: Before choosing a payment system, it's essential to consider both your management approach and the payment habits of your customers.
- Evolution of Payment Methods: While traditional systems like coins and cards have their merits, the trend is shifting towards more advanced mobile payment solutions like LaundryPay.
This article also provides quick tips for entrepreneurs in a rush, highlighting the main payment options and urging consideration of management styles and customer preferences before selecting a system.
Additionally, Laundrylux offers various resources like high-quality laundry equipment from Electrolux Professional, financing services, marketing assistance through Laundrylux Creative Services, and access to a network of local laundry experts for guidance and support in establishing a successful laundromat business. The article also references related blog articles discussing soft-mount vs. hard-mount washers and provides in-depth information on various aspects of the laundry industry.
