Learn & Grow

How to Build a Laundry Empire With Mobile Payment Systems

Posted by Charlie Pasquale on Dec 10, 2018 1:46:00 PM

When you start looking at opening new locations, chances are you’ll start to see just how overwhelming the process is. You need to

  • Find a location
  • Hire new employees
  • Buy new equipment
  • Implement a payment system
  • Win new customers

And much more besides.

While not all of that will be simple, whenever you can simplify anything in this process it’s to your benefit.

And a mobile payment system is a big way that you can simplify, especially for coin laundromats.

Scale With Simple Payments

The old way of running a coin laundry involved a lot of coins.

You would need to empty your machines, roll the coins, and then take them to the bank just to get paid. That’s a lot of work, especially when you have more than one location.

Mobile payment systems eliminate the coin issue altogether by letting you accept all of your payments digitally.

No more lugging coins to the bank means you get paid faster, and you don’t have to turn customers away if they forget their quarters. That’s a win-win.

Market With Relevant Info

Mobile payment systems aren’t magic boxes that tell you everything about your customer.

But they do tell you more information than a traditional POS system or coin-operated laundry machine would.

For instance, do you know how often the same customer returns to your business? A retained customer is worth a tremendous amount to your business after all.

 

 

 

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But by only accepting coins as payment, it’s virtually impossible to know if your customers are coming back more than once. You would need an attendant taking strict notes and not doing anything else, which isn’t sensible or profitable.

But with a mobile payment system, it’s easy to tell when a customer pays multiple times.

You won’t necessarily be able to see who is making the payments, but you can see how often they come in, what times they come to you, and if your marketing efforts make an impact.

And this informs your marketing in a big way. You’ll be able to weed out the campaigns that don’t work and focus on the big money makers in your new location.

Balance Cost and Revenue

Anyone who has ever opened a second business will tell you that one of the biggest hurdles is managing your costs versus your revenue in the second location.

With a mobile payment system, this problem is minimized due to one simple fact:

You can have lower costs.

If you’re not paying out the nose for an expensive payment system, then you’ve minimized costs. And as more people grow aware of your branch and start to use you, you’ll start to see the revenue rise much higher than you would through coin systems.

Conclusion

There’s no denying that opening a new branch of your laundry business is a risky prospect.

But when the time is right to expand, you shouldn’t be shackled by high costs and lack of data.

You should be able to grow with the knowledge that you can win new customers and minimize your costs with your mobile payment option.

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Topics: Building a Laundry Business

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