While most other industries have changed currency from coin to cash, and then cash to card, laundries have stuck with coin payment longer than most. Decades longer than most, to be slightly more specific.
But now that card readers for washers and dryers are becoming more common, it’s opened up some green fields possibilities that are attracting some attention.
Case in point: Art Jaeger, former executive vice president at Capitol Records, has chosen the laundry industry for his ‘investment’ business after a successful 20-year career in music.
His decision made such a splash that it was written up in the LA Times.
Why Would an Investor Choose Laundry?
Jaeger’s choice was carefully made. Before deciding on running a laundry, he devised a checklist to grade multiple business investments. His criteria basically aimed for a business that required few employees, could be self-financed, could be run remotely, and would retain its value (so he could sell down the line if need be).
The reason he chose laundry in the end is largely due to the advent of card-reading and automated laundry tech.
Specifically, it was remote store management, credit card payment, and the option to launch loyalty marketing programs that pricked his ears. He’s now set out to realise his vision of a fully-automated, all digital and coinless laundromat.
Head’s Up, Laundry Owners!
The same things that attracted Jaeger apply to existing laundries – probably more so. Card readers could easily make the laundries that cotton on early into highly profitable enterprises. The consensus seems to be that there are many opportunities connected with the innovation, and comparatively few risks.
And if you own a laundry, you’re already several steps ahead of the investors – coin operated laundry machines can be converted to credit card reading systems fairly easily.
Why Convert to Card Readers?
No more coins, no more smash and grab thefts.
Save Time and Money
No more counting coins.
Online income reports give you full accountability and make accounting easy.
We live in a digital world – customers use card almost everywhere but the laundry.
Credit Card Readers for Western Australia
Dependable Laundry Solutions has made the advance, and are now fitting out laundries across WA with card reading technology.
We’ve always been a trusted name for laundry equipment in WA and NT, and are now bringing this new potential business advantage to Australian businesses.