Currently, due to Covid-19, The Federal Reserve has announced that there will be US coin shortages for the foreseeable future (https://www.frbservices.org/news/communications/061120-strategic-allocation-of-coin-inventories.html).
Now may be a good time for coin-op laundromats to investigate how switching to tokens can impact their bottom line. Tokens are available in sizes that are a replacement for US quarters, US half dollars and US dollar coins. They can be personalized with a logo and contact information as a reminder of where they can be used.
Tokens can have a significant impact on the profitability of coin laundries because they deter theft/vandalism and reduce insurance premiums. If the washers and dryers are operated on tokens, there is no need to break into coin boxes. Many times, the cost of repairing/replacing the damaged equipment is significantly more than they actual money stolen.
In addition to the lowered insurance premiums and reduction in theft/vandalism, tokens can also help secure a customer base. Customers who come in to wash $5 to $6 worth of clothes typically buy $10 worth of tokens and when they leave with the spare tokens, they’ll most likely return, especially if the tokens have been customized with the business name, location and/or phone number. Even if they don’t, the coin laundry owner still benefits because the cost of the tokens is a fraction of what the customer pays for them, so each walkaway nets a profit margin. Dispensing tokens also reduces trips to the bank as customers are not using your changers to get quarters or dollar coins for other activities.
Tokens can also be used for vending of detergent, fabric softener, dryer sheets and other laundry needs, as well as for vending of food and snacks.
TokensDirect mints millions of tokens per year in our Cincinnati, Ohio based factory. Stock tokens are available in common sizes and materials on line at www.tokensdirectstore.com. Stock tokens ship in 1-2 business days and can be in purchased for as little as $190.00.
Custom tokens ship in 5-10 days from art approval. TokensDirect has a staff of talented artists who can translate your idea or logo into a workable token design in 1-2 days. Custom tokens incur a 1 time set up charge of $210 (per side). TokensDirect also offers several stock laundry designs (https://www.tokensdirectstore.com/3cba8b46-9f74-42ab-ba35-0515f91bd593) that could be used on 1 side with a custom design on the other, thus reducing the one time investment.
Click here to see examples of stock and custom laundry tokens.
Call us at 800-514-6312 for more information or e-mail tokens@tokensdirect.com.