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Laundry business operation advice

  • 1.  Laundry business operation advice

    Posted 08-13-2019 10:05
    Hello everyone
    i am running a laundry mat business for few years I have coin operated machines business been doing 1800 / month but for the last two years there are few more mats open within 2 mile distance so I am down to 16k / month but my drop off service went up 1000 a month
    thinking about going for card payment option
    i have 30 different size washers and 32 dryers I asked someone for estimate on installing card payment machines I was told $700 / machine
    That's around $43000.00
    Did anybody had experience of installing card payment options? Is it worth doing it ? Does anybody have experience with dexter live or dexter pay ? Currently I don't have pos system I everything on paper does anybody have experience changing to pos system
    please share your experience
    thank you


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    Eid Rehmat
    Eid Rehmat Person
    Southaven MS
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  • 2.  RE: Laundry business operation advice

    Posted 08-14-2019 12:53
    Edited by RICH CRUZ 08-14-2019 13:00
    Hi Eid,

    I have an idea on a solution that would probably work well in your facility. Could also offer you a case study for you to review. You can message me for details.

    Let me know your thoughts!

    -Brian

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    CRAIG FREDRICKSON
    SALES DIRECTOR
    CRAIG FREDRICKSON Person
    Prior Lake MN
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  • 3.  RE: Laundry business operation advice

    Posted 08-14-2019 14:07
    There are card only type systems that are considerably less than $700 per machine. Just need to check around.

    Dexter live can be run by itself or in conjunction with Dexter pay(Dexter pay requires Dexter live). Dexter pay just became an option this month so there may not be many reviews on that.

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    Jared Friesen
    Wash & Dry
    American Fls ID
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  • 4.  RE: Laundry business operation advice

    Posted 08-14-2019 22:53
    Edited by JUAN VASQUEZ 08-14-2019 22:55
    Hi Eid,

     I'm sorry but what is your correlation between the drop in revenue, rise in WDF and going to card pay systems?

     What is your present demographic? Do the 2 new competotor locations offer card service?  Seems that if your revenue has dropped by ~ 12k per year, what would be the rationale to spend more $ in order to switch to a card system.  Do you plan to be card & coin?
     Thanks.

     Good luck.

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    Juan
    Cocoa, Fl
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  • 5.  RE: Laundry business operation advice

    Posted 08-14-2019 23:18
    I didn't have card payment option for laundry drop off service my drop of business was 900 / month it's been one year since I started accepting credit card payments and my drop off business is now average 1600 / moth there are 2 laundry business in the area with credit card processing machines on their washers and dryers that's what makes me think about it and wanted to know if anybody has experience of installing credit card processing machine on washers and dryers

    thanks

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    Eid Rehmat
    Eid Rehmat Person
    Southaven MS
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  • 6.  RE: Laundry business operation advice

    Posted 08-14-2019 23:29
    I would do a lot of due diligence on why the change in revenue.  Find out if the competitors have changed recently to card or if there is any reason they may be taking away business...newer machines recently, a better mix of machines,  more advertising noticed, etc.  $40K plus might be better served by doing an audit on your existing machines and installing more of a few sizes or adding a few larger sizes to attract business.  You could order those with card / coin of your choice and see what happens.  Some folks have gone card and regret the move, some have not...it's a big investment worthy of a lot of consideration and investigations.

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    LES MONTHEI
    MT VIEW LAUNDROMAT
    LAKEHEAD CA
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  • 7.  RE: Laundry business operation advice

    Posted 08-16-2019 19:11
    In my situation the installation of a card system resulted in substantial increase in revenue for me.  My competitor installed a card system and the very same month a good number of his customers fled and landed at my "old fashioned" coin-op mat.

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    Anderson
    Camarillo CA
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  • 8.  RE: Laundry business operation advice

    Posted 08-16-2019 21:34
    ^^^^ So... would it be correct in stating that your mat does both CC and coins?  Or is the "old fashioned" mat that you make reference to another location?  Thanks.

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    Juan
    Cocoa, Fl
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  • 9.  RE: Laundry business operation advice

    Posted 08-16-2019 21:44
    Replying to Eid's response (item 5).  I agree with Les' response (items 6) with regards to performing due diligence.  I would agree that the 40k might be used better elsewhere based on limited data either presented or evident that stipulates that because you WDF revenue increased over a period of one year to 1600 / month would give you similar types of revenue if at all.

     WDF and the self serve business are two related but different entities.  You should know your customer base and what they are doing and using for payment.  Most (emphasis on most) regular mat users are not the same WDF customers.  Sure you can and will have some that cycle back and forth between WDF and self serve but that is typically not the norm in several areas.  Again, location and region should be another factor.

     Do you have data to support both your WDF vs self serve customers?  That information is relevant in assisting with both your assessment and decision.

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    Juan
    Cocoa, Fl
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  • 10.  RE: Laundry business operation advice

    Posted 23 days ago
    In my situation, I'm a strong believer that "Cash is King!"  Even all my WDF customers, large and small, all pay cash.  I have no credit card reader and will never install one.  I've not lost one customer because of my cash only business.  Putting in your own ATM is the answer to those needing to use a card, before paying cash!  LOL  I love our business!

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    Caralee
    Ct
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  • 11.  RE: Laundry business operation advice

    Posted 23 days ago

    Eid
    There are several venders that offer a hybrid payment system that are significantly more cost effective that $700 per machine.  I have used several different options in my stores and none off them are perfect, and some are only barely marginal.  I will not go into the specific ones that I have used but I will tell you that some are better than others - plus if you are close to retooling your store pretty much every manufacturer is now offering app based CC pay on every machine.  As far as WDF service CC acceptance there are multiple options that include a POS that is designed specifically for that service.

    I would suggest that you look for a system that is more cost effective than $700 per machine - maybe on that is App based with a kiosk for central pay if the customers don't want to download the App.  Those systems tend to be much cheaper and from my experience they are just as effective as a system that has a CC reader on each machine.  I have both types of systems and both stores are running about 20% CC usage (the system with the readers on each machine is about 3-5% higher usage) but the costs of purchase for the app system was about 25% of the cost of the system with readers on each machine.  Plus the monthly and yearly costs along with the processing fees were MUCH lower for the App system.     

    ​Just my $.02

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    DARYL JOHNSON
    Giant Wash
    Saint Ansgar IA
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