Are you operating a coin-only laundromat? Asking your customers to bring a handful of quarters every time they want to clean their clothes used to be a standard request, but these days, it’s an excellent way to get left in the dust. Learn the benefits of offering alternative payment methods at your laundromat.
Benefits of Offering Alternative Payment Methods at Your Laundromat
Are you looking to bring your laundromat into the modern era? If so, you’re probably considering some upgrades to your payment systems. These days, laundromats can accept all payment methods, from debit or credit cards to an app on a customer’s phone. Alternative payment methods let your customers do their laundry without having to scrounge up some change. But is the benefit of updating your equipment to accept new payment methods worth the cost and hassle involved?
Alternative Payment Methods Make Bookkeeping Easier
Let’s be honest: quarters might have been the industry standard for laundromats for a long time, but that doesn’t mean they’re easy to manage. Managing the finances of a coin-operated business requires hours of work as you count and deal with mountains of change. That’s time you could spend doing other things to benefit your business — or giving yourself a well-earned afternoon off! Meanwhile, payment methods like debit cards give you instantly trackable financials whenever needed, without messing with quarters. Imagine being able to click a button on your office computer and immediately knowing how much cash you have on hand. Sounds pretty nice, right?
Alternative Payment Methods Offer Your Customers Convenience
The laundromat owner isn’t the only one who benefits from alternative payment methods. How people pay for things is changing, and it’s a good idea for your business to stay ahead of the curve. Not only is it inconvenient to have to pay for things in quarters, but issues like the national coin shortage make it harder than ever to come up with physical laundry money. Alternative payment methods allow your customers to pay for their laundry however they can, so they won’t have to choose between your business and a more flexible option down the street. (Another secret benefit for laundromat owners is that customers spend more money when physical currency isn’t required.)
Alternative Payment Methods Allow You to Reward Your Loyal Customers
While the convenience of different payment methods is already a huge draw, creative business owners can come up with many other benefits for their customers. For example, some laundromats use payment cards or debit-fueled accounts to track customer activities, rewarding loyal customers with discounts and freebies in return for their business. In today’s economic environment, savvy consumers seek ways to stretch a dollar. They’ll spend those dollars with you if you make it easy for them to save while they do it.
A Hybrid Payment System Can Give You a Wider Customer Base
As convenient as alternative payment methods can be, quarters aren’t quite a thing of the past. There will always be customers who don’t have access to credit cards, debit cards, or even smartphone apps. That said, plenty of other customers don’t want to mess with a pile of quarters every week while they’re doing their laundry. Consider how a hybrid payment system can let you keep both kinds of customers happy while reaping all the benefits for your business.
Once you learn the benefits of alternative payment methods, you can see their potential for your business. Is it time to update your laundromat payment system? If you’re curious, call us, and we can walk you through it.
Are you looking for the equipment you need to run a truly modern laundromat? Check out Laundry Solutions Company, a full-service provider of premium vended, on-premises, and multi-housing commercial laundry equipment. Since 1976, we have been providing exceptional sales support, laundry design services, commercial laundry equipment (and leasing options), and laundry equipment service and parts. To learn more about our products and services, please give us a call at 800-383-9274 or contact us online. We look forward to hearing from you!