Cash and coin remain popular time-tested ways to pay and one common question that every self-service laundromat business owner should ask is if they should install a change machine in their laundromat.
In this article, we will offer you several questions that you should ask yourself before installing a change machine in your laundry business.
What Is the Age Demographic of Your Customer?
The first thing to ask yourself before investing in a change machine for your laundry business is what is the age demographic of my customer?
If your customers average age is 35, and those customers are already paying for their loads with credit, debit cards or other payment systems, the reality is that installing a change machine may not be a good return on investment.
Let’s say that the average age of your customer if 65 or older, in this case installing a change machine may be a good idea because a large percentage of older consumers still primarily pay for things with cash or coin, not credit, debit or other payment systems.
Does Your Laundry Business Have Security?
There’s no denying that crime has increased nationwide in the last two years and coin operated machines are often easy targets, this is why you should also consider having on site security before installing a change machine because criminals often see change machines as easy marks.
By making crime as difficult as possible in your establishment, you will be able to deter thieves, but you must also be prepared for the extra cost of paying for that security guard monthly.
Do You Have Staff That Can Help Make Change?
Before saying yes to investing in a change machine for your laundromat, you should also determine if you have staff that can make change instead of investing in a change machine.
Yes, it may take up a staff members time, but the reality is that this extra layer of customer service will help your business stand out from the competition.
Ultimately, if you don’t have enough team members who can make change, especially late at night, it may be best to invest in a change machine for your business.
Do You Have the Space for A Change Machine in Your Business?
Once you determine that you need a change machine in your laundromat, the next question to ask is where are you going to place that machine?
Ideally, you want to have it placed where consumers can easily access it but at the same time your change machine should also be placed in a location where it can be monitored by your employees as well.
By Jeremy Raglin, Content Writer