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Welcome To The Coin Laundry Industry

Welcome To The Coin Laundry Industry

            Congratulations on taking the first step.

           Owning a coin laundry, or two, or three allows you the freedom to own a business that does not require your time to operate. Customers will pay you while they do the work.

 

            My Team and I are here to guide you through the process from design to operation. Many of our team own multiple, successful stores and are experienced in all areas of design, construction, operation and marketing to make your new store the best in the area.

            Please take some time to read through the attached article and become familiar with the industry and trends.

 

            Should you have any additional questions or would like to discuss the location of your new store please contact me at:

           Ken@WashinCoinLaundry.com

            WashinCoinLaundry.com

            800-792-1941 ext 2

  

Definitions and Background

The term coin laundry is defined as commercial-grade, self-service laundry equipment placed into service in a retail space. Coin laundries generally occupy the retail space on long-term leases (10-25 years) and generate steady cash flow over the life of the lease. Coin laundries are unique small businesses in that they have no inventory or receivables. A minority of coin laundries employ attendants.

Coin laundries can range in market value from $50,000 to more than $1 million, and can generate cash flow between $15,000 and $200,000 per year. Business hours typically run from 6 a.m. to 10 p.m. The stores usually occupy 1,000 to 5,000 square feet of retail space, with the 2002 average being 2,260 square feet.

Coin laundries are perfect examples of passive income generators.

Coin laundries are also referred to as coin-op laundries, coin-operated laundries or Laundromats.

The primary customer base for coin laundries are people living in rental housing. Between 2000 and 2012 the number of people in rentals increased from 86 million to 94 million based on US Census information. The secondary customer base consists of the non-rental population, which also uses coin laundries. 

As the chart below shows the home ownership rate in the US continues to decline.

 

Coin laundries thrive in periods of both growth and recession. During periods of recession, when home ownership decreases, the self-service laundry market expands as more people are unable to afford to repair, replace or purchase new washers and dryers, or as they move to apartment housing with inadequate or nonexistent laundry facilities. The market size grows proportionately to the increase in population.

While coin-ops are found in virtually all neighborhoods across the country, stores seem to perform exceptionally well in predominately renter-occupied, densely populated areas. These areas are increasing in number with each year throughout the country. The intense population growth, coupled with the expansion of rental housing, has increased the customer base for coin laundries.

The public will always need this basic health service – people always need to wash clothes!

 

 

Trends and Characteristic

Industry growth is based on the demographics of population density, population mix and population income. The more concentrated the population, the greater the need for quality coin laundry facilities. National and regional demographics indicate renters, the primary users of coin laundries, are the fastest-growing segment in the nation. As of the 2011 U.S. Census, 35.4 percent of the nation’s 113 million households were renter occupied.

Operations and Performance Levels

Coin laundry operations consist of three basic areas: janitorial, maintenance and the handling of money (which consists of collections and loading coin changers). Bookkeeping, administration and banking are typically off-site management areas. A standard profit and loss statement for a coin laundry typically includes the following line items:

  • Income, consisting of wash and dry

  • Other income, which would include vending, drycleaning and/or wash-dry-fold service 

    Expense categories would typically consist of:

  • Accounting

  • Advertising
  • Insurance
  • Legal costs
  • Licenses
  • Maintenance (includes parts and labor)
  • Payroll (usually limited to on-site work–i.e., janitorial or employees)
  • Personal property tax
  • Rent
  • Common Area Maintenance (CAM) charges, also known as Net charges including: real estate taxes, maintenance, insurance and other charges
  • Utilities (gas, water, electric and sewer)
  • Vending expenses
  • Miscellaneous costs (including: wholesale drycleaning costs, fluff-n-fold supplies and labor) 

               The percentage for each category will vary from store to store and region to region. Interest charges, depreciation and other nonstandard items, such as owner salary, generally appear on tax returns, but are excluded from the standard profit and loss statement for purposes of valuation and determination of cash flow. There are some general ‘Rule Of Thumb” percentages that we can discuss. 

  • Sales volume, and/or individual store performance varies, based on a number of factors. These factors may include demographics; overall services offered; design and general condition; equipment selection, condition and vend prices; hours of operation; exposure of the building; parking; and competition.
  • The industry terminology for individual equipment performance is cycles per day, or turns per day (TPD). These designations refer to the number of times per day, on average, each machine is used. While this statistic varies widely the range for washing machines is generally from three TPD to as high as eight TPD or more. The primary factors affecting TPD include: population demographics, such as density and percentage of renters; capacity and quantity of the washers; the vend prices charged; and the prevailing market vend prices.Dryer income can vary greatly due to: total wash poundage generated; overall vend prices of both washers and dryers; heating efficiency of dryers; total number of dryers in relation to washers; and dryer size and capacity. Dryer income is usually expressed as a percentage of overall income.

     

    Summary

    Today’s coin laundry industry is a strong and vibrant one. Even more appealing is the fact that this dependable public service industry continues to grow and thrive. The demographic trends toward an even greater apartment dwelling segment of the population predict continued prosperity.

    If you have

  • I look forward to meeting you, Ken Barrett
  • Ken@WashinCoinLaundry.com
  • WashinCoinLaundry.com
  •  800-792-1941 ext 2

Testing The Audio Technica ATR 2100 Microphone

Testing The Audio Technica ATR 2100 Microphone

I purchased an ATR 2100 to get some better audio on my webinars and hangouts.

Below are a couple of videos showing the items purchased, and some comparison of my laptop microphone, and the  ATR 2100

 

The standard Laptop Microphone

 

 If you have any comments please post them below.

 

Ken Barrett


P.S You can find this and my other comments at KenBarrett.us

P.P.S Are you a business and need to improve your online presence? Maybe I can help START HERE

Ancillary Profit Centers

Ancillary Profit Centers In Laundromats

Ancillary Profit Centers In Laundromats

     Should you offer ancillary profit centers in your Laundromat?

     Ancilliary profit centers are any item or service you offer that is outside of the basic washers and dryers.

     These centers could be soap sales, snacks, drinks, Drop Off Laundry Service, tanning, video games and many others.

     As a business owner you need to determine what other profit centers would work well in your store, what benefits your customers experience and is there truly a profit.

     To determine your profit you need to include all of the costs from time spent ordering items to the power used by the equipment.

      According to the Coin Laundry Association, 96% of the coin laundries in the United States offer some type of ancillary service

Extra Profit Centers: Statistics

Extra Profit Centers: Statistics

The ancillary services above are ranked by the percentage of coin laundries that offer the service

 

      Before adding any additonal product or service in your business ask the basic questions:

     – Is this a want or need for my customers?

     – What is the total cost to implement and maintain?

     – Do I have the ability (manpower, space, time) to implement and maintain?

     – Is there a way to outsource the product or service?

     – Is this venturing too far out of my original business plan?

 

         Many investors in Laundromats are looking for a business that requires a limited amount of time, inventory and headaches.

     If this provided value for you please comment and share below.

 

Ken Barrett
800-792-1941 ext 2
Ken@WashinCoinLaundry.com

P.S. If you would like information on Blog system and how to use it in your business CLICK HERE

 


 

Transcript:

I just wanted to talk a little bit about ancillary profit centers. Our main business is laundry and a few of the different things that get sold to them; soap, bleaches and couple things like that but the basis of the business is self-serve laundry. Some Laundromats have taken to looking at what are the different ways to increase profits, use space better and stuff like that. Like anything, there’s a lot of thought that needs to be put into each of the different ideas. Is it good? What’s the real baseline cost to it? Sometimes you might try it out and think it’s working pretty good, but then when you really run it for a while and work on it, the numbers don’t quite make sense.

 

Normally, you’re going to have your soap dispensers, the small vending soaps. It’s just a mechanical box, you put the coins in, you push the slider in, you turn the screw and the box of soap drops out. Fairly reasonably priced, it’s a simple system, they go from a four slot to an eight slot. You might have some laundry bags in there, just a plastic bag if they don’t have a way to get stuff back home. That’s your base line, you’ll find that in every laundry. The next step is getting into more of a vending machine type, where you can sell some bigger soaps, a bigger variety of soaps. It might be something that you’re going to use for four or five loads of liquid soap as opposed to just a single box of powdered soap. That’s still just the basis of the industry.

 

The next sections from there are going to get into starting to have snack machines, drink machines, those sort of things. I’ve got a variety of stores, one of my stores doesn’t have anything more than a soap dispenser and that’s it. One of my other stores, I have a drink machine in there that’s supplied by a local soft drink company. They maintain it all, they look after it. They mail me a check once every three months that probably just covers the cost of the power to run it. It’s really not a profit center for me, it’s more of a convenience for customers, but at the same time, it’s not inconvenient for me. If there is a problem with the machine, I might get a refund slip and I’ll give them a refund for a dollar or whatever, so in that situation, I’m really losing money, but people think it is mine because it’s in there. Also, by the time I get a hold of the other company, it’s not worth the hassle. Might as well just mail a check out for $1.35 and keep my customers happy.

 

The other store I have, I have a snack vending machine and a drink machine. The drink machine, right now, I’m having problems with it, I need to get it replaced. So we’re just selling drinks over the counter from the attendants in a small fridge. The snack machine, I got a really good deal on it. It was used but it works great. The slots work on it and the coin mechanism and stuff. We keep it stocked up and full, it takes about an hour a week for one of my attendants to fill it up. I actually have somebody in early on Monday mornings to inventory the snack machine, fill it up, and make sure we’ve got all the stuff from the storage area into the working area of the store.

 

We’ve got a couple months worth of supply in the back, and we don’t want to have it all that out there. We have somebody that brings out enough to keep it in the main area of the drop off area, that way we have enough there without having too much. If something happens and I can’t get more supplies right away, I’ve got enough there to get through. If I just have a really bad month, I don’t have to worry about going in to buy stuff. It takes about an hour a week. There’s numbers to look at on that, there’s my time to go get the supplies, buy the supplies, restock the vending machines. To try and buy those then get it delivered, you’re really starting to add some costs onto it and you’d better be making pretty good volumes out of it to cover the costs. I buy mine at a local membership, big box warehouse type store. I go down there about once every three weeks, maybe once a month and load up this little VW to the top with everything I need for the store. There’s a few specialty items I do order and get them dropped off, but for the most part a lot of it comes from there.

 

The vending itself, as much as it seems like it’s making money, you really need to look at your situation. If, let’s say, out of your vending machine, you make a hundred dollars profit at the end of the month. And that’s counting in some of the losses you have for outdated snacks that you got to pull out because they’re past their due dates, etc. Out of that $100 dollars, if you’ve got an attendant that spends an hour a week on it, even at minimum wage, you can round that up to about $10 bucks an hour pretty quick. There’s $40 dollars gone. If you’ve got to spend two hours driving down to get the supplies and bringing them back and unloading them, depending on whether it’s just adding on to what you’re already doing or if it’s an additional trip, you’re down to $60 dollars profit here. If it’s a couple hours, what’s your time worth? Is it $30 bucks an hour? Then you broke even. Is it $20 bucks an hour? You made a bit of a profit. You really got to kind of look at those and go, where’s the difference between just having it there as a convenience for the customers and if you’re just doing it for that and you’re not worried about the profit, why not just contract it out to a vending company and have them come in and deal with it all? They can deal with the waste, the extras and the supplies.

 

It’s something you just need to weigh the options on. The numbers might look great up front, and if you’re just using an attendant who’s there anyways to keep it stocked and inventoried, then you don’t really have that cost. With myself, I’m busy enough with my attendants that I don’t want to leave it to somebody during the week, because they just don’t get to it, it’ll just empty out. It’s better to have it done at that same time every week. Bring somebody in for a few hours, get it all done. They focus on that and they’re not just trying to fit it in when they can.

 

Other laundries, they’ve taken it to the next level from that. They might have put in a tanning salon or gaming machines, just a bunch of different stuff like that. You get an old arcade game, which takes up the same amount of space as a washer. You really got to weigh that around, you want to have something for the kids to do. Question is though how many of those do you put in before you start wondering, ‘Am I making more money on laundry or on running the arcade games?’ Also, if the arcade game breaks, how long is it going to be before you can get it fixed? At the very least, get it out of the way. Nobody wants to keep coming in and seeing the ‘out of order sign’ on it. Kids start getting frustrated, because they were playing it and having a good time once a week, and now it’s been out of order for a month. Look at the different base stuff you have to provide. Your minimum is single load vending soaps. Everything else beyond that is another profit center, but is it really a profit center that’s going to make a profit?

 

Look at your time, your attendant’s time, if you need to bring in extra people. Is there any losses in waste? How much inventory do you have to have? If you’re looking to just have an unattended laundry, with somebody coming in once in a while, you don’t want to have inventory, that’s the idea is to have a non-inventoried business. Throw those around, see what works for you, but really, truly, weigh the cost of what it is and don’t forget your time. Your time is worth something too, and put a dollar figure to it. If you want to be $30 bucks an hour or $50 bucks an hour or $100 bucks an hour. Put a dollar figure to it and whenever you’re calculating stuff, whether it’s counting money, working on machines, just driving between stores. What is that dollar figure that you’re worth and at what point do you start paying somebody else to do it? Think about those ideas and I’ll talk to you later.

 

END

The 10 Most Important Concepts For Entrepreneurs.

            As many of you know I own a chain of Coin Laundry’s. And yes we have an Association and even a monthly magazine.
            As part of a regular feature a section is written about Business Management by Stephen Bean. He is also a Coin Laundry owner and has a Master’s Degree in Clinical Psychology.              

      I have attached his information at the end of this article.

        The article this month is about the 10 most important concepts (in his opinion) that all self-service laundry operators and, of course, other small-business owners would benefit from understanding in the running of their businesses and in conducting their lives as entrepreneurs.

The Big Ten

 

BY STEPHEN BEAN | Feb 05, 2014

 

         The 10 most important concepts (in my opinion) that all self-service laundry operators and, of course, other small-business owners would benefit from understanding in the running of their businesses and in conducting their lives as entrepreneurs.

         This list is in no particular order of importance. They are all important, especially if you view them as a group and benefit from their synergistic nature, meaning they are best when they work together in harmony. Individually, they are pretty cool, but as a group I think they are even cooler.
 

      When you read and digest them, they will make you think, and thinking (especially thinking deeply) will help you become more curious and therefore more creative – and ultimately more successful and self-assured. The Big Ten will provide more dimensions to your life because nobody’s life should just be one-dimensional.

 

So, repeat after me:

 

•    I am not too set in my ways to learn something new.
 

•    I am not too set in my ways to change my thinking.

•    I’m not too set in my ways to change my perspective.

 

Now… let’s check out The Big Ten:

 

1. If your fundamentals are absolutely sound, the rest is simply a matter of detail.

     For example, if you are constructing a high-rise building and your foundation is not structurally correct, I would suggest that nobody visit the upper floors because the original error in the premise will definitely appear in the conclusion. I think you get my point.

2. Put your customers into a state of willing suspension of disbelief.
 

     The key word here is “willing.” A lot of people  write advertisements, and a lot of people see them. However, the two most common words in advertising are “Yeah, sure” – meaning that we are so inundated with ads that we tend to disbelieve most of them.
 

       If you write your own ads, you should understand the definition of the word “verisimilitude,” which essentially means the appearance of being truthful. If your messages demonstrate verisimilitude (they are scrupulously honest), you will enable prospective customers to willingly suspend their disbelief.

 

3. Owning a business means you are always in the uncomfortable situation of needing to know more information than practical reality will permit.
 

     This is the one that gives you that nervous feeling in your stomach.
 

The bad news is that there is no solution to this problem. The good news is that the way you can manage this often-occurring situation is to develop the ability to be comfortable while being uncomfortable.

     Just accept the fact that all business owners deal with this, so you’re not alone or unique. Also, accept the fact that business life is actually fair (despite the frequent bemoaning of others that you have heard to the contrary), because it’s unfair to everyone. That, logically, makes it fair.

     This may surprise you. You don’t need to know everything about your business and what affects it to run it successfully. The best suggestion is to stop beating yourself up because you simply can’t find a way to know everything; accept this fact of business life, and counteract it by developing more creative skills.

     I trust that your stomach is feeling better now.

 

4. People are mighty complex creatures.

     And all forms of behavior have multiple causes. Nothing is simple when it comes to human responses. The more you know about human psychology, the better marketer you will be.

     By the way, that’s why economics is actually a social science, despite all of the advanced mathematics involved. Economics is fundamentally the study of human behavior as it relates to and interacts with money.

     Another important aspect of human nature is that – as American author William Faulkner wrote in his 1932 masterpiece “Light in August” – “Memory believes before knowing remembers.” What this essentially means is that the long shadow people’s memories cast influences and alters their perception of the present and the future.

 

5. Customers have more reasons to buy than you have to sell.

     As business owners, we have only one primary reason to sell our products, and that is to make money. However, as I mentioned, the human species is mighty complex. People certainly don’t always tell you everything that’s on their minds. Most salespeople learn that lesson rather quickly.

      I firmly believe there are five primary buying motives for all purchases: fear, greed, exclusivity, guilt and the need for approval.

     The effectiveness of your marketing will improve if you weave in the five primary buying motivators into your ads in a subtle and acceptable manner.

 

6. Know the difference between show and tell.

     Believe it or not, it has the same significance as the learning exercise we all took part in as kids in school. The idea is to advertise in a visual manner, because using radio ads exposes the recipient to what has been referred to as the “theater of the mind.” In other words, it’s open to interpretation.

     In fact, all communication is controlled by the receiver and not the sender. This is true because people are influenced by many intervening variables, such as experience, age, gender, cultural background and a host of others. So, their interpretation of received communication of all types is filtered by these personal variables.

 

7. You don’t need an operating manual.

     There are hundreds of franchises available to today’s investors. These businesses are appealing because they come with a book of instructions from the franchisor. If you own a franchise, you not only pay a hefty signup fee, but it’s also common to have to fork over a percentage of your gross sales for the honor and privilege of being a franchisee.

     By contrast, entrepreneurs  have no manual. Your operating manual can be found in the mirror. However, the tradeoff is that you pay no signup fee and no percentage of your sales to anyone. You’re on our own.

     But, because there is no manual, you must be creative and energetic – and, by being so, you are entitled to all of the upside rewards without having to share them with a parent organization. In addition, you determine your own advertising, controlling its content and cost.

     I have always believed that franchises are great for those who require a specific set of directions. However, I’ve noticed that non-franchised small-business owners tend to not require a manual and are more the types to rely on themselves; they’re likely more creative by nature.

     Therefore, view yourself as what you are – unique, creative and self-sufficient. I’ve heard it said that living with uncertainty is ultimately more profitable than living with certainty. You’re living your dream by being willing to bet on yourself.

      Congratulations! You are a pure entrepreneur. Relish the experience. You most certainly have my admiration.

 

8. Don’t ever make your customers work harder than you do – if so, you’ll regret it.

     That’s not a misprint. This is an all-too-common occurrence, not only in small businesses but in large ones, too. In fact, I actually have a long list of irritating examples of how this can occur. I’m sure you’ll recognize some of these from your personal experiences:

•    When calling a large company and hearing, “All of our representatives are busy talking to other customers. Your wait time is 25 minutes.” (Get more representatives!)

•    When calling a doctor’s office and hearing, “The first available appointment time that the doctor can see you is in four weeks.” (Get another doctor!)

•    When ordering dinner in a restaurant and hearing, “Absolutely no substitutes. Your order comes with fries. A baked potato will be a dollar extra.” (Find another restaurant!)

•    Not being able to talk to a human being when calling a company. (Do business with another company!)

•    When at a large store and only one checkout lane is open, causing an insultingly long wait time. (Put your items back on the shelves and leave!)

•    When calling a company to buy something and hearing, “We will call you back at our earliest convenience.” (Their earliest convenience? They have it backward!)

     Essentially, all of these events require the customer work harder than he or she should have to. The moral of the story: if you make the customer work harder than you do, your days are numbered as a business owner. It’s just a matter of time before it all comes crashing down on you.

 

9. Smart business owners get comfortable with the ubiquity of risk.

     Risk underlies and affects every move a business owner makes. Certainly, there are risks and costs to taking action, but they are far less than the long range risks and costs of lethargic inaction.

     Your business is not a static enterprise. It’s dynamic. For example, look at consumer electronics behemoth Apple. To remain a market leader (or simply to just stay in business, for that matter), Apple must constantly develop new communications products – and these products must hit a home run each time they roll them out.

     Of course, the same applies to automobiles and many other products

     Constantly step back and look at your business objectively. What can you add or subtract? What can you improve? How can you innovate it and stand out from the crowd.

     If you don’t do this, I can guarantee that one or more of your competitors surely will.

 

10. Get very familiar with “the parrot joke.”

     Here it is: “I bought a parrot that talked, but it never said it was hungry. So, it died.”

      This joke can have a slightly deeper meaning, which I suggest you take to heart. Much like the parrot, your customers often don’t talk either, especially about the aspects of your business they don’t like.

     Therefore, it’s wise for you to speak with them as often as possible about what they like and what they don’t like about your store. Find out what they’re really thinking.

     A word to the wise: study your prospects more than the product – doing so will prevent your market share from slowly dying off.

 

There they are…The Big Ten.

Get ’em? Got ’em? Good!

     I have shortened the article and removed most of the laundry references. The full article can be found at http://www.planetlaundry.com/business-management/2014/big-ten

     Summary: Stephen Bean is the owner of Universal Coin Laundry Machinery, LLC, a distributorship based in Royal Oak, Mich. He also operates a large, 24-hour laundry in Detroit. In addition, Mr. Bean, who holds a master’s degree in clinical psychology, has been published in numerous trade journals and spoken extensively on the subject of marketing throughout the United States. Mr. Bean is available for personal coaching and one-on-one marketing consulting. To reach him directly, email: smbeanuniversal@aol.com.  

 If you have any comments please post them below.

Ken Barrett

P.S You can find this and my other comments at KenBarrett.us

P.P.S Are you a business and need to improve your online presence? Maybe I can help START HERE

Is Your Business Prepared For A Disaster?

 

Is Your Business Prepared For A Disaster?

     Yesterday I attended the first of four classes to prepare my business for a disaster. The class is being presented by the Calhoun County Chamber of Commerce, Calhoun County EMA and the Cleburne and Calhoun chapter of the American Red Cross.
 

You do not need to be a member of the Chamber Of Commerce to attend this course.

     Here are some stats from the Red Cross:

40% of small businesses FAIL following a disaster

94% of small business owners believe a disaster could seriously disrupt their business within the next 2 years.

33% of businesses have NO Business Continuity Plan
 

     Being a small business owner, a former maintenance technician and volunteer firefighter I have had experience with disasters from different angles.
 

     As a firefighter we were continuously training to respond to disasters, touring large factories in our area to understand the concern areas and have a better understanding of the layout of the buildings. There were also a number of farms and fertilizer plants in the area that had their own issues. In some cases the best response to a fire is to let it burn. Seems strange but in the case of a fertilizer building fire the damage done by adding water far outweighs the fire damage to the building. This was all part of the emergency / disaster plan of the facility.  We were present at fires, car accidents, medical emergencies, and a host of other issues.

     My job as a maintenance technician required hours of preventive maintenance to avoid equipment failure. In the case of a failure the ability, knowledge, parts and equipment needed to get the facility running again were key to the successful operation of the plant. Many large businesses would never consider running without a trained maintenance staff to respond to equipment “disasters” but have little to no plan in place for an “external / natural” disaster.
 

      As many of my fellow small business owners know you were many hats during the day, Manager, Purchasing Agent, Marketing Department, Sales Person, Accountant, and Floor Sweeper. Adding Disaster Coordinator to the hat rack is about as exciting as an IRS audit.
 

      You may have a “plan” in mind to handle a situation as it comes up but does your staff or family have any idea if you are not available?
 

     Over the past few weeks in the area of Alabama that I live we had a couple of winter weather situations. I was coordinating my store operation by phone and text with my employees but we did have water pipes burst at two of my locations on different days. In one location I flooded my main store and storage room. The casualty at the end of the day was a couple of small items and the power supply for my printer. Fortunately when the pipe burst my employees were at the store.

     In the other location the neighboring store owner, who let me know about the leak as it came under the wall, had to call 911 to get someone from the Water Department to come and turn off the water. I had a cleaner at the store but they were unaware of the outside valve location and did not have access to the inside valve.
 

     The class being offered by the EMA is free. The meetings are 2 hours each, one per month for 4 months. Plus some additional time to do the Homework to get your plan together.

You do not need to be a member of the Chamber Of Commerce to attend this course.

Here are the links I mentioned in the video:
Red Cross ReadyRating.org
Tammy Bain- Calhoun County EMA- 256-435-0540.

TBain@CalhounCountyEMA.org

The Anniston Star Article can be found HERE

If you have any comments please post them below.

 

Ken Barrett

P.S You can find this and my other comments at KenBarrett.us

P.P.S Are you a business and need to improve your online presence? Maybe I can help START HERE

The Problem: The Coin Box On The Washer Was Filling Up.

The Problem: The Coin Box On The Washer Was Filling Up.

Previously I posted about this topic and my plans. See The Post Here

     The large capacity washers I have I my Laundromat are $6 per cycle. They are the largest machines in the City I am located in o they get a lot of use. The store only has two of this size machine so keeping them running is critical.

     Do to the demand and some original design issues the coin boxes are filling up between collections. In some cases the coins have backed up into the coin drop mechanism and prevented more coins from being inserted.

    How do you think a customer feels that has loaded their clothes and detergents into a washer, inserted $5 in quarters and can’t get any more to go in?

     There are a few options to solve this issue:
1- CREDIT / DEBIT card acceptance at the washer or through a Loyalty card or Kiosk payment. While there are a number of benefits to this there are some other considerations.
Cost: Initial installation costs for any of these methods is high for a small store and usually 10 machines is the minimum required for a system to be installed.
Customer Acceptance: In my market very few of my Self Serve customers use credit or debit cards and have no interest in loading money onto a Loyalty / Laundry Card.
Customer Usage: The time required to convert customers to use a card, if they switch at all, may not eliminate the issue on busy weekends.

               2- DOLLAR COINS OR TOKENS: I have made some changes in another of my Laundromats to a Dollar Coin on one machine, my attendants use them when needed on that machine and provide change to customers whenever possible. I will also be switching other machines soon.
In the Laundromat I am having problems in there is no attendant. I have 1 dual hopper changer that has quarters on both sides. Switching one side to $1 coins may cause more weekend trips due to a jammed machine. Adding an additional single changer is an option but not at this time.

           3- MORE COIN CAPACITY: Due to the construction of the machine there are restrictions. I originally looked at removing the internal part of the coin box and having a chute that the coins would drop through into a safe in the base, similar to a vacuum at a car wash, the coins actually end up in a safe near the ground in the concrete base. It would be more of a hassle to empty the machine but the capacity could be a couple of weeks.
This method would not work due to the location of the drain valve and piping.

     Installing a larger coin box was possible but only if the box length was changed. The manufacturer did not make a longer coin box so I modified what I had to do the job.

The first step is to make a bigger box.

 

      Next is to make the changes to the machine so the box will fit and work correctly.

      As you will see in the videos there are a few issues that need to be addressed and it took some time to get all the parts together and make the changes. The first machine took about an hour to get the work completed. The second one took about 15 minutes.

      The videos show some of the steps and items to watch for.

 

       Hint: Knock the rivets off from the inside of the coin box cover before you do anything else. There are a few that are exposed inside the machine and can be drilled out but a few need to be removed from the inside and is easiest with the box still supported by the back cover.

Each machine type will have some differences and may require some changes to this method but my overall cost to do make the changes was about $50 and the time was less than one trip to empty the box mid-week.

And Yes it does look like a stretch limo when you pull it out.

Please add any questions or comments below.

 

Ken Barrett
800-792-1941 ext 2
Ken@WashinCoinLaundry.com

 

P.S. If you would like information on Blog system and how to use it in your business CLICK HERE

There is no Better Teacher Then Adversity!

” Adversity Causes Some People to Break,and Others to Break Records”

                                                                                                 ~ Harvey Mackay ~

Could it be possible for you to really succeed in your business? How would you personally answer to this question……?

  •   .…Yes ?
  •   …. No ?
  •   ….Maybe ?

Maybe you’ve been struggling for years to get your business, project or career off the ground with very little or no results at all, and  you’re considering throwing in the towel.

This is exactly what the majority of people  choose to do ! . Did I said choose ..?

 All of us had to overcome a little, or for some a lot, of Adversities or road blocks in life , it’s true!

 But consider this for a moment ,according to one school of business that had conducted a study to 400 executives who obtained great success in their career vs another 400 who fell by the roadside, they wanted to know how those who became successful differ from those who didn’t.

  It is interesting that the …..

  1. Education was not the key factor, because some high school drop-outs were running huge corporations: and Bill Gates is an example , while some MBAs were failing miserably and slamming into dead ends.
  2. Experience, you might think ?, …not at all, because in that case those at the top should have been older, but that has never been the case.
  3. Technical ,Social skills and dozens of other career related variable were also examined and non of those factors provided the explanation either.

What made the distinction among them was perseverance. So, if at any point you find yourself blaming one of  the above mention factors , please don’t , and here is why … mindset or mental habits is what will prepare you to face life’s toughest challenges and I recommend to develop these habits before you actually need them.

  I personally dedicate 1hr every day to feed my mind with positive thoughts and ideas from our daily mastermind call at empower network. or read a good book from someone who already has achieved what I want.

   Always think positive and believe that you can do this!

“When fate throws a dagger at you , there are only two ways to catch it : by the blade or by the handle “  ~ unknown !

      Think about this for a moment…what this means is that there are events [ dagger figuratively speaking] that just show up and if we catch them by the blade ,or uses it to tap into the victim-hood and feel depress all day long complaining ,then this won’t serve any good purpose.
But what if you decide to catch it by the handle ?, then you will use it like a tool to create or calve your dream so to speak . never underestimate the power of this , There is no education like Adversity !!

  We must push through the adversity we face  [ effort needed ] , not walk around it nor walk away from it. Should you do the contrary and I promise you that you will be poorly prepared for winning!

  Surround yourself with like-minded people who share your same goals and dreams and remember that you will become the average of the 5 people you associate with. Meanig that you can be influenced for the better or worst depending of the kind of people you choose to hang around.

   Human Nature…..?

   You will say..But . it is easier to say then to do! It’s true!, that.. out of all the people who try to succeed in their business ,career etc , 97% will Fail and only 3% will make it to the top. I don’t know how precise are these statistics , but you remember that I said at the begining of this discussion , this is a matter of choice every-time, and rarely and impediment that causes an individual to fail, because not everyone has same level of commitment,dedication and perseverance , some will do nothing and the result will be “Zero”

” It takes and extraordinary person to achieve an extraordinary results” ,Be one of them !

 If you don’t know Empower network yet ,I invite you to learn about them and meet a great comunity whose vision is to help hundreds of thousands of network marketers, affiliate marketers and entrepreneurs have massive breakthroughs and create a permanent change in their quality of life and financial situation.

If you have any comments please post them below.

Ken Barrett

P.S You can find this and my other comments at KenBarrett.us

P.P.S Live your dreams now? Check it out Here

 

  

Keeping The Money Secure In The Laundromat.

Keeping The Money Secure In The Laundromat.

     If you are going to offer a Drop Off Service or have any products for your attendants to sell they will need  secure location to lock up their cash balance.

     You may be considering a contracting out your Drop Off Service as I talked about in this post. Either way if you are providing the secure storage or recommending something to your contractor.

     In my store I use three different types of safes, a drop safe, small stackable attendant safe and a larger, floor mount safe.

The links for all three are available at the bottom.

     The safes I use are not fire safes but simply a secure, steel storage box. As I know the balance of each safe I am not as concerned about fire damage. This reduces the size and allows more flexibility in mounting.

     Each attendant has their own safe.  You can send me an email and we can discuss the cash balance I use.

     The safe can be opened by the attendant with a pushbutton code and a key. I have a master key that directly opens the safe to allow me to fill the safe and adjust the cash balance as needed.

     I do not know the attendants codes for the safe nor do I need or want to. The code is reset with a button inside and if an attendant is no longer employed I immediately reset the code.

     The drop safe is used for the envelopes containing the paperwork and excess cash from the shift.  Although this safe is more expensive the anti-fishing feature is a key component. It prevents someone from  hooking the contents with a coat hanger and puling it out of the drop slot. It also has a larger capacity to make sure the envelopes drop flat on the bottom.

     The last safe I use is for storing other items such as keys and excess quarters This one is larger to accommodate the pail used to collect the change. It is only accessed occasionally and is mainly used for times I am out of town and may need to provide access to someone else.

All of these safes have electronic locks that are easily changed.

Links To Purchase:
Drop Safe
Attendant Safe
Storage Safe.
 

If you would like more details please send me an email and we can discuss.

If you have cny comments please post them below.

 

Ken Barrett
800-792-1941 ext 2
Ken@WashinCoinLaundry.com

 


P.S Live your dreams now? Check it out Here

Do Your Own Online Marketing… Sounds Scary!

Do Your Own Online Marketing… Sounds Scary!

 

     Are you a small or medium sized business that needs more customers?

     I have tried Billboards, Newspaper ads, Coupon Books and all of the other “normal” methods. I had some luck but I doubt if I even covered the cost.
And tracking the ad to actual contact with people is almost impossible.

        Next was a website. I stumbled through setting it up, trying to adjust fonts, and spacing and colors…Maybe you hired out the job. How did that work out?
When was the last time you updated your Website?

         Then I thought I would try Social Media, Facebook and all the others. Everybody just said get a Facebook Page, get a bunch of Likes and you’re in business.

            Has anybody ever found a business on Facebook from a Google search?

       Possibly, but if you realize that Facebook and Google+ are competitors you know Google is only going to put a Facebook Link if they can’t find anything better.

          I have finally found a system that gives me a simple platform to use, lots of easy Step-By-Step training and a way to make money online as well.

              Interested?

           I still have some of my websites but I don’t need to update them because I direct people to my other location and if they want to they can click through to my website.

          I can also add other sites with no additional cost.

            Last week I got an email for a renewal for one of my “One Page, One Night” websites that was only used to direct people to my websites.
One page, basic info, click the picture.
The renewal cost…. $59 a year. I spent a couple of hours setting up a new site with all the same info and what was my yearly cost? NOTHING! I can add unlimited sites for one $25 monthly price.

Here is the site WashinCoinLaundry.com

Why not try something different to get your business noticed?
CLICK HERE and move your business to the next level.

 

http://prosperity-link.com/KenDo you want more details? Click This Link

Questions? Ken@WashinCoinLaundry.com

If you have any comments please post them below.

 

Ken Barrett

 

P.S You can find this and my other comments at KenBarrett.us