4 Reasons Why Laundromats Go Cashless

Jul 27, 2023

Turning a Laundromat into a true passive income.

There are several compelling reasons why laundromat owners in New Zealand are opting for cashless operations instead of relying on coins. But all these reasons ultimately lead to one main benefit: Freedom

1. Say Goodbye to Banking Hassles

Initially, laundromat owners may be thrilled by the substantial amount of coins or tokens they collect from their coin trays every week. For busy laundromats, emptying the coin trays can be a frequent task, sometimes even several times a week! While the income from these coins can add up significantly, the joy of dealing with all those coins fades quickly.

Clearing out the trays, sorting the coins into bags, and carrying them to the bank can be time-consuming and physically demanding, with bags that can weigh up to 20kg each! Even tokens require clearing from trays and returning to the token machine on a weekly basis. Hiring someone to handle this task is an option, but trusting someone with the responsibility of clearing thousands of dollars in coins or tokens each week can be challenging.

With cashless operations, all these hassles vanish. There’s no need to worry about banking, clearing trays, waiting in lines at the bank, or dealing with sore muscles or back pain. Cashless payments streamline the process and eliminate the need for physical handling of coins or tokens.

2. Bid Farewell to Theft Worries

Although theft is not a common occurrence, it can be extremely frustrating when it happens. While Speed Queen coin operated machines are designed to be highly secure and tamper-proof, a determined individual armed with the right tools and little regard for security cameras can eventually break into a coin box, causing significant damage. There have even been cases where criminals have gone to the extent of removing entire change machines from walls after cutting through reinforcements!

However, with cashless operations, there is nothing to steal. When cashless terminals were first introduced in self-service 24/7 laundrettes, there were concerns about theft. Although the terminals are secured, it is technically possible for someone to steal them. However, in reality, cashless terminals have no value to thieves, and incidents of theft are virtually non-existent.

3. No more Coin Jams

Despite the sophistication and durability of coin mechanisms, occasional incidents of coins getting jammed can occur, especially when customers insert damaged or mangled coins, or attempt to trick the system with foreign objects. Tokens can also face similar issues. When a coin jam occurs, it creates two problems. Firstly, the customer may claim to have paid but not received the desired wash or dry, which may require a refund, remote activation of the machine, or disputes with customers. Secondly, the machine becomes out of order, resulting in lost revenue for laundromat owners, particularly in busy locations where customers may choose to go elsewhere.

Cashless operations eliminate these problems altogether, as there are no physical coins or tokens involved that can get jammed in the machinery.

4. Boost the Success of Your Laundromat

Cashless laundromats tend to be more successful compared to those that rely on coins, for several reasons. Cashless operations allow for longer operating hours, including the possibility of staying open 24/7, without the risk of theft. They also offer flexibility in pricing, as laundrette owners are not limited to multiples of $1 or $2 coins and can set prices that work best for their business. Most importantly, consumers generally prefer cashless payment methods, as it eliminates the need to queue up for a change machine and allows for immediate payment for the desired services.

If you’re interested in learning more about cashless laundromats, get in touch with the experts!

Want to know more about cashless laundromats?