The laundromat business in the United States has a $5 billion market value. The industry is also at a crossroads, with coin-operated washing machines and dryers quickly going by the wayside.  

If you own a laundromat, you need to have an eye toward phasing out these machines fast. 

Why is it so important to move away from coin-based machines? We’re happy to explain. 

Here’s why the coin-operated laundry is quickly becoming a thing of the past. 

People Prefer Digital Payment Options

Right now, 82 percent of people in the United States use some form of digital payment. This includes apps to send money to friends, third-party payment processors, and web-based platforms. 

Don’t even get started on the crypto craze and how the future of currency is staring us in the face. People also are increasingly comfortable with digital billing and mobile-first shopping.

If you’re still using coins, you’re catering to a demographic that doesn’t even carry them anymore. 

Coins And Paper Money Aren’t Hygienic

People are more conscious of sanitary living in the midst of the COVID-19 pandemic. This disease is a problem we’re going to be living with in some capacity for a while, so it’s important that you adapt.

Coins carry unsightly amounts of bacteria, so it’s natural that people are wary of carrying and using them right now. 

The virus immediately created a coin shortage in the United States because people stopped using them. Basing your entire business around the use of coins is no longer a viable option since peoples’ mindsets about using them have changed. 

It’s No Longer an Efficient Option

Coins create a lot more work for your business. You have to keep a change machine for people to turn their bills into coins. If this machine goes down or you run out of coins, you dramatically decrease the amount of business you can do that day. 

You’re also requiring employees to load and unload these machines. These coins can get heavy and create a mess if they spill out everywhere. Getting rid of these machines is every bit as helpful to your company as it is for your customers. 

Best of all, you don’t have to spend a lot of money to make the switch. You can opt for retrofitted machines rather than purchasing brand new ones. 

If you’re just starting your laundry business, there are plenty of digital-based options to check out as well. 

Check out some of the most efficient laundromat equipment on the market right now: https://laundrysouth.com/commercial-coinless-laundry-equipment/

Automation Is Taking Over

We live in a time where 30 percent of jobs are likely to be replaced by automation. The laundry business is no different. 

People today prefer ease of use and the ability to quickly take advantage of a service. Staying on coin-based machines keeps your overhead and operating costs higher and makes it so that you need to keep hiring employees.

Upgrade Your Coin-Operated Laundry Business

If you own a coin-operated laundry, it doesn’t mean that you need to close up shop. The points above stress the need to upgrade so that you can keep accommodating your customer during these rapidly changing times.

Lean on us for all your business information needs, and check out useful articles on a variety of topics.