American Coin-Op - January 2024 by American Trade Magazines

Timeline for Building a New Store

The importance of identifying, communicating start-toﬁnish signposts INSIDE: JANUARY 2024 FINANCING: ANSWERING ALL THE RIGHT QUESTIONS

STEPS TO REDUCE YOUR NUMBER OF EMERGENCY CALLS RECEIVED

APPBASED LAUNDRY BIZ AWARDED $75K IN ENTREPRENEUR COMPETITION

WWW.AMERICANCOINOP.COM

0124aco_p0C1-Cover-FINAL.indd 1

12/11/23 10:23 AM

Enable EMV contactless and EMV contact payments directly on your washers and dryers. The leader in laundry payment solutions for over 54 years. Modern day card only solutions | Hybrid card and coin solutions

Flexible Payment Options

Credit/debit card, cash/coin (optional), loyalty card, NFC/Mobile Wallet, EMV Contact & Contactless payments directly on washers and dryers Allow customers to automatically earn free washes or dries with loyalty cards or their credit/debit cards

Loyalty Programs

No sign-up or app download required, a seamless customer experience

EMV CERTIFIED Eliminate Chargebacks PARTNER WITH SETOMATIC-SPYDERWASH

sales@setomaticsystems.com | 516.752.8008 www.setomaticsystems.com

ACO StandardPage.indd 1

11/ /23 2:3

CONTENTS JANUARY 2024

COVER STORY

VOLUME 65 ISSUE 1

TIMELINE FOR BUILDING A NEW STORE A closer look at how distributors, general contractors, subcontractors and others that are part of a self-service laundry project develop and work within their schedule of planned tasks.

(Cover image: iStock.com/lovegull)

INSIDE

COLUMNS

10 FINANCING: ANSWERING

ALL THE RIGHT QUESTIONS

Securing financial approval for new self-service laundry ventures takes effective proposal preparation, investor relationship building and more. American Coin-Op polls a handful of manufacturers and commercial lenders on the state of lending today, the challenges your laundry business is likely to face when seeking financing, and the best approach to take to get your laundromat financing approved.

DEPARTMENTS 4 VIEWPOINT 22 CLASSIFIEDS

23 AD INDEX 24 NEWSMAKERS

2 AMERICAN COINOP JANUARY 2024

0124aco_p002-Table of Contents-FINAL.indd 2

18 POINTERS FROM PAULIE B: INSIGHTS INTO REDUCING YOUR NUMBER OF STORE EMERGENCY CALLS

If you’ve owned a laundromat for a while, you know the stress of receiving emergency calls. They can come at any time, and often when you least desire them: weekends, vacations, at night when you’re sleeping. Retired multi-store owner Paul Russo says you can’t eliminate them, but there are ways to cut them down dramatically.

DID YOU KNOW... American Coin-Op has released podcast episodes on a variety of industry-related topics? Give one a listen at AmericanCoinOp. com/podcasts.

www.americancoinop.com

12/12/23

:35 AM

ACO StandardPage.indd 1

12/ /23 3: 5 M

VIEWPOINT Charles Thompson, President Donald Feinstein, Publisher E-mail: dfeinstein@ATMags.com Phone: 312-361-1682

Bruce Beggs, Editorial Director

HOW THE TIMELINE EBBS AND FLOWS

E-mail: bbeggs@ATMags.com Phone: 312-361-1683

Mathew Pawlak, Production Manager Nathan Frerichs, Digital Media Director E-mail: nfrerichs@ATMags.com Phone: 312-361-1681

ADVISORY BOARD

Bruce Beggs

Happy New Year and welcome again to the pages of American CoinOp, in publication since 1960. Our magazine publishes monthly, which means that each and every month, the staff here works through a production cycle involving advertising sales, editorial research and writing, and issue production and printing. For purposes of this column, I’ll call it our “timeline.” From personal experience, I know the average issue timeline isn’t smooth. There are stops and starts—ebb and flow—with just about every aspect of a given issue, but it’s all part of the process. In the end, American Coin-Op is published on time and as scheduled. Laundry equipment distributors, general contractors, subcontractors and other parties contributing to the development and building of a new self-service laundry also use a timeline and do their best to work through issues that may pop along the way in order to meet a targeted store-opening date. I wanted to learn more about what a timeline means to a given laundry project, so I reached out to some distributors from different parts of the country. During the course of my interviews, we talked about the concept of a timeline, managing a project task by task, encountering and dealing with delays, and working together as a team to reach a common goal. It turns out that making one’s way through a timeline takes patience and flexibility. Delays and issues will come up in a complex contruction project like a laundry. If the project principals are able to handle them through communication and teamwork, the result is a new store the owner—and those who pulled it all together—can be proud of. Our cover story starts on page 6. Other content this month includes “Financing: Answering All the Right Questions,” featuring advice from some key laundry-centric lenders beginning on page 10, and “Insights into Reducing Your Number of Store Emergency Calls,” Paul Russo’s Pointers from Paulie B column beginning on page 18. While you dig into that, I’ll get started on a new issue timeline. Bruce Beggs Editorial Director

4 AMERICAN COINOP JANUARY 2024

0124aco_p004-View Point-FINAL.indd 4

Douglas Pratt Tony Regan Sharon Sager

Michael Schantz Matt Simmons

OFFICE INFORMATION Main: 312-361-1700

SUBSCRIPTIONS SUBSCRIPTIONS

847-504-8175 847-504-8175 ACO@Omeda.com ACO@Omeda.com www.AmericanCoinOp.com www.AmericanCoinOp.com

American Coin-Op (ISSN 0092-2811) is published monthly. Subscription prices, payment in advance: U.S., 1 year $50.00; 2 years $100.00. Single copies $10.00 for U.S. Published by American Trade Magazines LLC, 650 West Lake Street, Suite 320, Chicago, IL 60661. Periodicals postage paid at Chicago, IL and at additional mailing offices. POSTMASTER, Send changes of address and form 3579 to American Coin-Op, Subscription Dept., 125 Schelter Rd., #350, Lincolnshire, IL 60069-3666. Volume 65, number 1. Editorial, executive and advertising offices are at 650 West Lake Street, Suite 320, Chicago, IL 60661. Charles Thompson, President and Publisher. American Coin-Op is distributed selectively to owners, operators and managers of chain and individually owned coin-operated laundry establishments in the United States. The publisher reserves the right to reject any advertising for any reason. © Copyright AMERICAN TRADE MAGAZINES LLC, 2024. Printed in U.S.A. No part of this publication may be transmitted or reproduced in any form, electronic or mechanical, without written permission from the publisher or his representative. American Coin-Op does not endorse, recommend or guarantee any article, product, service or information found within. Opinions expressed are those of the writers and do not necessarily reflect the views of American Coin-Op or its staff. While precautions have been taken to ensure the accuracy of the magazine’s contents at time of publication, neither the editors, publishers nor its agents can accept responsibility for damages or injury which may arise therefrom.

www.americancoinop.com

12/12/23 2:0

ACO StandardPage.indd 1

12/5/23

:22 M

Timeline for Building a New Store

The importance of identifying, communicating start-toﬁnish signposts (Photo: © lovegull/iStockphotos)

by Bruce Beggs, Editorial Director

very development project intended to produce a newly constructed self-service laundry is similar in what needs to be accomplished to get from point A to point B and so on. But the manner in which the project progresses from these points and beyond can vary widely depending on many factors. There are forces that project principals are able to control and forces that they cannot, any of which can influence a project’s timing and cost. Laundry equipment distributors are often involved throughout the process, with representatives providing assistance with demographics analysis and site selection all the way to equipment installation and store opening preparation. At times, they’ll find themselves coordinating the project by virtue of their experience specific to laundromat development. “Well, I think we would like to think it’s shared, but ultimately, I think it’s our responsibility to keep things on track,” says Cliff Ross, vice president of sales for distributor Metropolitan Laundry Machinery Sales, covering the New Jersey market. “We’re the quarterback for the contractors and the customer and the utilities, and we’re trying to make sure that everything is moving along, and if there is something that we’re not making progress with, you know, it’s up to us to get the other team members 6 AMERICAN COINOP JANUARY 2024

0124aco_p006,008-Timeline for Building a New Store.FINAL.indd 6

involved to get a resolution.” It’s commonplace for them, along with the contractors, subcontractors and others creating a store, to follow a timeline, a schedule of project management tasks and their planned completion. Due diligence is involved before a timeline takes shape but once the store site becomes the investor’s through either purchase or lease, the formative sequence of events can truly be set into motion. Along a project timeline lies milestones or signposts—tasks that must be achieved for an investor’s laundromat dream to become a reality. These include, but aren’t limited to, site selection, lease negotiations and signing, store design, financing, equipment selection, permitting, construction, inspections and installation. Jeff Seele is president of distributor Sav-A-Day Laundry Machinery in the St. Louis suburb of Maryland Heights, Missouri. His father, Floyd, founded the company in 1958. “Well, my father used to say, ‘Without a plan, you have a plan to fail.’ So, you know, when you have a plan, you’ll know when you’re on target,” Seele says. “You’ll know what your costs are going to be. You’re going to know when payments are due. You’re going to know when to www.americancoinop.com

12/12/23

:3 AM

ACO StandardPage.indd 1

12/11/23 10:1 AM

hire people, when to start your marketing. There’s just a whole series of things.” Todd Santoro, president of distributor CleanWash Laundry Systems, Omaha, Nebraska, believes the project timeline offers great value in keeping things organized and every contributor working toward a common goal of seeing the new owner open his or her store in a timely fashion. “A timeline doesn’t mean that you’re going to be 100% successful but lack of a timeline means you will 100% fail,” he asserts.

STICK TO THE SCHEDULE A store’s physical size, its project scope, and its geographic location are among the variables that can influence the length of a laundry development timeline. “Building a new store today is kind of like getting a root canal without any anesthesia,” quips Ross. “It’s a long, painful process, and at the end, you don’t remember the pain anymore, you only have the enjoyment, and that’s kind of what this is. “The timeframe that I’ll tell somebody today is probably nine to 18 months, you know, from conception to opening, to be able to get a store built and ready to attract customers.” “I would argue in your mid-size and larger cities, you know, half a million (population) and above, you’re probably looking at six to eight months minimum,” says Santoro. “You go to the West Coast, it’s gonna be crazier. You go to the East Coast, it’s gonna be crazier. The Midwest is decent.” His company’s average timeline was once about five months: a month to work through drawings and permits, four months through build-out and the customer’s door was open. Today, the timeline is closer to seven or eight months, he says. Russ Arbuckle, president of distributor Wholesale Commercial Laundry Equipment SE, Southside, Alabama, says his best-case scenario for an existing building is to complete construction and equipment installation within 12 to 14 weeks. “It’s difficult to hit that, mainly because there’s just so many things that can delay the project, whether that’s permitting and plans going back and forth for revisions, whether that’s for delays in getting utilities run or connected,” he says. “Timelines almost always change. It’s rare when they don’t. But having that timeline allows for a couple of things. Being able to schedule and coordinate the general contractor and subs, so we’ve got no days or weeks where we’re in the process but we’ve got nobody on site doing anything.”

WORKING TOGETHER When the project timeline reaches the point of construction and equipment installation, an investor shouldn’t be surprised to see multiple tradesmen working in a coordinated effort. Oftentimes, the completion of one task leads directly into the beginning of another. “Once we do all the underground plumbing and it gets inspected and we’re able to re-concrete the floor, then we could start to deliver the (laundry) equipment,” says Larry Vladimir, regional sales manager for Metropolitan Laundry Machinery Sales, covering the Philadelphia market. “So that’s a big sign for me, because it allows me to start delivering the equipment.” “First of all, (the timeline) gives you a much better idea and goals to reach in specific timeframes, as opposed to just doing it catch as catch can,” Arbuckle says of a timeline’s value. “If I know I need to reach this signpost two weeks in, four weeks in, six weeks in, it certainly gives you the ability to put pressure on whomever you need to and try and keep 8 AMERICAN COINOP JANUARY 2024

0124aco_p006,008-Timeline for Building a New Store.FINAL.indd 8

everything moving forward and not having a lot of lag time between different signposts.” He recommends customers keep him involved when they meet with the general contractor, and have weekly or biweekly construction meetings for the best chance of sticking to the established schedule. “It allows me to interact with the subs, because at the end of the day, we’re the last guys there. Most subcontractors, if they’ve never done a (laundry) store before, have no idea what’s involved.” “We have, almost every couple of days, a quick phone call with our GC,” says Santoro. “We have a once-a-week sub meeting with ‘What are the fires? What do we need to solve for?’” Work may be ongoing in multiple areas, particularly when a project is approaching its targeted completion date. “I mean, this is (the owner’s) baby … and they want to get it open sooner rather than later,” Seele says. “But we’ve just got to make sure that everybody else understands the importance of every week. You gotta be on the site. We gotta be getting things done because when you’re done with this, then he can do his. If you don’t do yours, we can’t do ours, and it’s the domino effect.” Milestones have what Santoro calls “dependencies.” For example, he tries to schedule dryer installations until the last possible minute to prevent drywall workers from dropping excess “mud” on the machines. But workers responsible for venting aren’t concerned about drywall and can be held up because the dryers aren’t in place. “If we don’t negotiate each of those milestones and dependencies, we end up with lots of things that have to be redone, either on our dime, the contractor’s dime or the owner’s dime,” Santoro says. “And that’s what makes milestones tremendously important for us.”

KEEP THINGS MOVING Working within a project timeline takes measures of both patience and flexibility. Whenever something happens to slow a project down, it’s time to find other areas where things can keep moving. “The best thing you could do to keep that more or less under control and do the best you can with it is communicate,” Ross says. “You have to communicate with the other members of your team. The contractors, the architects, the attorneys, you know, and try to at least keep the ball rolling from our point of view. We can’t control what’s external to that but we can make sure that we’re in the right positions.” “Well, when you have a timeline, everybody has the same goal and we try to keep everybody, you know, going the right direction,” Seele says. “If there is a pause, if there’s something that’s kind of run off the rails, we can bring ’em back. “We can say, ‘Yeah, we’re not getting electric, or the power company’s going to delay us.’ When everybody knows where we are, they will adjust their schedule. Suddenly, if we’re ahead of schedule, I may come and bring in more machines sooner. If we’re behind, I may start talking to somebody and we may delay a shipment of machines.” “I think during construction period, you can certainly move things around based on contractor availability or time of year,” Ross says. “Where you may not be able to make roof penetrations in the Northeast in February, you can do a lot of other work. “I think we try to be flexible with that, too. Until you get to the point where the permits are issued, it doesn’t really matter what order you do things in, they all have to be accomplished.” Finally, once completed through the stops and starts, another laundromat opens its doors and our industry grows just a bit larger. It was all part of the timeline. www.americancoinop.com

12/12/23

:3 AM

ACO StandardPage.indd 1

12/ /23 3:25 M

Financing: (Photo: © IzelPhotography/Depositphotos)

Answering All the Right Questions

Solid credit history, cash reserves, other factors boost chances for approval by Bruce Beggs, Editorial Director

ecuring financial approval for new self-service laundry ventures takes effective proposal preparation, investor relationship building and more. Regardless of the project, the lender whose funding you’re seeking is going to have some questions, and how accurately and honestly you answer them will play a big part in determining your chances for approval. This month, American Coin-Op polled a handful of manufacturers and commercial lenders on the state of lending today, the challenges your laundry business is likely to face when seeking financing, and the best approach to take to get your laundromat financing approved. Q: Heading into 2024, how would you describe the lending market, as far as it concerns laundry businesses? Leo Frazier, vice president and general manager, Dexter Financial Services: While interest rates are higher than borrowers have experienced in previous years, the laundry business is still doing very well throughout the United States and customers are still investing in new projects and 10 AMERICAN COINOP JANUARY 2024

0124aco_p010,014,016-017-Answering All the Right Questions-FINAL.indd 10

retools of their existing businesses. Lenders are more than willing to partner with good operators and new investors to help make their deals happen. Tina Gough, senior finance sales specialist, Alliance Laundry Systems: Interest rates, set by the Federal Reserve, are expected to move down in the second half of 2024 and (see) little movement in the first half of the year. The downward movement in the 2nd half is not expected to be rapid nor dramatic. With interest rates not projected to be on the rise in 2024, it is a great time to replace your older equipment with more efficient models with newer technology. This will give you the capability to increase your revenues with cycle modifiers that newer technology provides, along with decreasing your utility costs—not to mention eliminating repair costs—with more efficient equipment. Jennifer Whitney, vice president of business development, Eastern Funding: The lending market remains robust within the vended/retail (continued on page 14) www.americancoinop.com

12/11/23 10:25 AM

PLACE YOUR ORDER TODAY: 773.337.8600 M O N DAY - F R I DAY 7 : 3 0 A M - 4 : 3 0 P M | S AT U R D AY 8 : 0 0 A M - 1 2 : 0 0 P M

We areYOUR your commercial MIDWESTlaundromat SOURCE FOR equipment andGENUINE authorized Dexter Distributor. DEXTER PARTS & EQUIPMENT TAKE ADVANTAGE OF GREAT SAVINGSTODAY: ON VALUED PARTS! PLACE YOUR ORDER 773.337.8600 M O N DAY - F R I D AY 7 : 3 0 A M - 4 : 3 0 P M | S AT U R D AY 8 : 0 0 A M - 1 2 : 0 0 P M

YOUR MIDWEST SOURCE FOR DEXTER GENUINE PARTS & EQUIPMENT

Computer Board A-Series Washer 9473-009-005 $428.40

Coin Accumulator Board 9732-258-001 $227.10

Computer Board V-Series Washer 9473-004-007 $428.10

C Series Control 9473-010-001 $514.80

Water Valve 9379-183-012 $40.75

TAKE ADVANTAGE OF GREAT SAVINGS ON VALUED PARTS! Door Lock Solenoid 9536-074-001 $78.90

Ignition Control Module 9857-116-003 $115.80

Door Actuator 120V 9892-015-001P $96.15

Gas Valve 9857-134-001 $155.10

Computer Board A-Series Coin Accumulator Board Computer Board V-Series Washer 9473-009-005 9732-258-001 Washer 9473-004-007 $428.40 $227.10 $428.10 Door Gasket Spider Assembly Motor Kit Stack Dryer Control 9206-164-009 9568-011-001 9732-205-003 9857-147-010 $33.75 $171.30 $544.80 $479.40

Heat Sensor LD2X30 3.5” 9501-004-003 $35.40

C Series Control 9473-010-001 $514.80 Electrode Ignition 9875-002-003 $29.40

Water Valve 9379-183-012 $40.75

Pricing valid through January 31st, 2024 MONDAY -Door FRIDAY 7:30AM - 4:30PM Lock Solenoid Door Actuator 120V SATURDAY 8:00AM - 12:00PM 9536-074-001 9892-015-001P $78.90

$96.15

ORDER PARTS TODAY:

773.337.8400 773.337.8600 Door Gasket 9206-164-009 $33.75

Spider Assembly 9568-011-001 $171.30

SERVICES WE OFFER Ignition Control Module Gas Valve Heat Sensor LD2X30 3.5” •Equipment Sales and Installation 9857-116-003 9857-134-001 9501-004-003 $115.80 $35.40 •New Laundromat Construction$155.10 •Laundromat Retooling and Equipment Upgrades •Financing •Equipment Maintenance and Repair •Fully Stocked Parts Department Stack Dryer Control Motor Kit Electrode Ignition •Laundromat Brokerage 9857-147-010 9732-205-003 9875-002-003 $479.40

$544.80

$29.40

P R I C I N G VA L I D T H R O U G H D E C E M B E R 3 1 S T , 2 0 2 3

DT EQUIPMENT COMPANY • 5519 W MONTROSE AVE, CHICAGO, IL 60641 • WWW.DTECI.COM DT EQUIPMENT COMPANY 5519 W MONTROSE AVE, CHICAGO, IL 60641 WWW.DTECI.COM 0124aco_DT_Equipment_StandardPage.indd 1

12/ /23 2:05 M

• Contactless pa Use cash or cre • value to your c

card or CycleP

• Management c • EBT available certified, a • EMV accepted

Accepts

Loyalty Cards

and CyclePay

Mobile Phone App

ACO StandardSpread.indd 1

Contact Your ESD® Dist Phone: 215-628-0860 sales@esdcard.com 11/ /23

:5 AM

ctless payments

ash or credit card to add to your contactless loyalty r CyclePay mobile app

gement cards wash-dry-fold

vailable

ertified, all major credit cards ted

ESD’s proprietary MyLaundryLink • software available at no monthly charge features: remote price • MyLaundryLink changes, promotional programs and many other features

languages: English, Spanish, • Available German, Italian, French, Portuguese, Russian, Mandarin, Korean and any others needed any others needed

I own and operate Laundry Magic in New England. I upgraded my ESD® Cyberwash store to a wireless ESD® Edge Payment System with an EMV credit card reader that is loyalty card capable. The ESD® technology provided for the automatic re-carding and transfer of value for all of the existing store customers. ESD® worked diligently to ensure that the conversion and installation went smoothly, that my customers were not inconvenienced, and my operation remained successful. I highly recommend the ESD® Edge Payment System and other ESD® products.

ESD® Distributor or email us at: 28-0860 • Fax: 215-643-4623 rd.com • www.esdcard.com ACO StandardSpread.indd 2

Jim Pedrick, Owner Laundry Magic, New Britain, CT www.laundrymagicne.com

11/ /23

:5 AM

(continued on page 10)

laundry space. The industry is attracting new investors and existing owners are generally seeking to improve or expand their businesses. The demand for financing remains healthy with a current focus on equipment upgrades and business acquisitions/retools.

Frazier: Captive and independent finance companies in our industry are two of the best financing options for existing business owners and potential investors. These lenders understand the industry, the collateral, and the collateral’s “remarketability,” allowing them to be the most flexible in designing a deal to meet the applicant’s needs and give them the best chance for success.

Q: What are the primary financing options available to laundry business owners and investors today?

Q: Can you list the common challenges a laundry business might face when seeking financing?

Gough: Financing options are determined by the type of transaction and dollar amount of the transaction. New-store transactions provide a lower monthly payment in the first year after funding. They usually offer deferral periods (no payment required) and interest-only periods to allow the store to ramp up and obtain a better cash flow that first year. Payback of principal oftentimes is not required until after year one. Financing options for replacement transactions usually require the principal to be paid back sooner, with maybe an introductory deferral payment in the beginning (60-90 days) of the life of the loan. The thought behind this is that the store is already ramped up with a good cash flow to make principal and interest payments out of the gate. Overall, there are both variable and fixed-rate options, depending on the investor’s needs, along with loan terms up to 10 years. Our financial analysts have the expertise to match the best loan product to achieve the investor’s goals, both in the short and long terms. Whitney: Laundry business owners have a range of financing options including direct financing from sourcing ranging from a specialized lender, their local bank and the U.S. Small Business Administration. There are financing options available for equipment purchases, business acquisitions, new-laundry development, and commercial real estate. Loan types include term loans and business lines of credit.

Whitney: The challenges are different for laundry business owners depending on the type of project. If someone is buying an existing laundromat, buyers may have challenges with obtaining accurate financial records from the seller. It is important to receive updated P&Ls and utility bills to adequately evaluate the cash value and valuation of the laundromat. If someone is building out a new laundromat, it is important for the investor to manage project costs and project timelines to minimize cost overruns. The challenge is not to advance on the loan too early to avoid incurring interest costs before the store is closer to generating revenues. In either type of project—acquisition or new build—it is vital to have excess cash reserves, after the down payment, to cover any cost overruns. Frazier: The laundry business is a capital-intensive business that requires a significant amount of cash to get into, so making sure they have the cash to pay for the tenant improvements, down payments on the equipment, upfront payments for the financing, and have an adequate cash reserve for getting the project to cash flow. Gough: Down payment requirement — If it is a new investor getting into the industry, there is a down payment requirement of 15-30%, depending on the type of transaction (new build, acquisition of an existing laundry that is opened and operating). In addition to the down payment, reserves are also necessary to have while the store is ramping up.

(continued from page 10)

(Photo: iStock.com/Baris-Ozer) 14 AMERICAN COINOP JANUARY 2024

0124aco_p010,014,016-017-Answering All the Right Questions-FINAL.indd 14

www.americancoinop.com

12/11/23 10:25 AM

WWW.LCPARTS.COM $7.99 FLAT RATE SHIPPING EVERY THURSDAY

JANUARY

During J , most orders received by 3pm CST will be shipped same day. Phone orders only. Up to 20 lbs. Does not include oversized items.

EXPIRES 01/31/2024

PRICE BUSTERS P/N Bearing Kit, EH020

Bearing Kit, 75#

40%OFF

P/N 129411

LIST PRICE

P/N 70441601P

P/N 766P3A BEARING KIT, L1075

BEARING KIT, EH020

HOT VALVE

$1,

Each.

List Price $2

Each.

List Price $ 20

List Price $1 2 1

P/N 352161

P/N F300112G

P/N 110002 2

HOT VALVE

DOOR GASKET

DOOR SOLENOID

.99 Each.

$10 .99 Each.

$19.99 Each.

List Price $13 13

List Price $1

WHIRLPOOL P/N 3363394

List Price $46.73

P/N 9244-082-001 WATER PUMP, BELTLESS

DOOR HANDLE $9.95 Each.

P/N F200166300

KIT DRAIN VALVES

P/N F730455B

P/N F200203200

3 WAY VALVE BODY ONLY

MICRO SWITCH

P/N F980P3 KIT CONTROL ASSY

P/N 9539-461-001G DOOR SWITCH

$4.99 Each.

$5.99 Each.

List Price $18.90 P/N 285753A COUPLING, MTR W/INSERT

P/N F200166400

List Price $21.18

List Price $49.80 MOTOR COUPLER

COIN DROP

DEXTER

$22.99 Each. P/N 285753G

HUB & SEAL KIT

List Price $30.20 P/N 8502-629-011 LABEL/BLUE

$9.99 Each.

$12.99 Each.

List Price $19.53

List Price $30.87 Ea.

SALE ON CONTINENTAL PARTS CALL FOR SPECIALS! SE HABLA ESPANOL

WE SELL PARTS FOR : HUEBSCH, SPEED QUEEN, CONTINENTAL, DEXTER, ALLIANCE, WASCOMAT, GE, UNIMAC, MAYTAG AND MORE Call Us At 1-800-845-3903 | These Prices Are Also Available At Our Web Store www.lcparts.com |

All Orders Over $250

RECEIVE FREE DELIVERY UP TO 20 LBS*

*Free shipping excludes baskets, trunnions, some motors and oversized packages. Please call for details (Some sale items limited to quantities on hand) January 31st

ACO StandardPage.indd 1

12/13/23 10:3 AM

Lack of credit — Some investors have a lack of credit with little comparable borrowing or credit history. In those instances, a strong co-borrower may be required or additional down payment. Loan documentation signed by landlord — Most lenders require a document for the landlord to sign (“Landlord Consent”), allowing the lender to not only remove their collateral in a default situation, but also to gain access to the location to present a viable new tenant to the landlord. Sometimes, this document must be worked through with the landlord to come to an agreement. Q: What information should a laundry business applicant be prepared to gather and share in support of their project? Frazier: An applicant, for smaller, application-only-type deals, will need copies of the last three months of business and personal bank statements, a signed equipment agreement, and a copy of their driver’s license or passport. For deals over the application only limit, they will also need a personal financial statement, copies of the most recent two years of federal tax returns (business and personal), copies of the articles of incorporation/ organization, a copy of their building lease (or deed, if owned), and a pro forma/projection on the business. Gough: The amount of information needed from an investor is dependent upon the dollar amount requested and the type of transaction. For replacement transactions, we can pre-qualify an investor up to $200,000 to $300,000 based on just a one-page credit application if they meet certain criteria. For new-store transactions, we do require “a full package,” which includes: two years of the most recent tax returns (business and personal), three months bank statements showing down payment requirements and reserves, personal financial statement, equipment proposal, contractor’s statement, and a letter of intent (LOI) or copy of draft of lease along with the one-page credit application. Whitney: Each type of project and loans will have different information requirements. These may range from financial statements on the investor (personal financial statement, tax returns, bank statements, entity formation)and on the location (actual/projected revenues & expenses, demographics, competitive analysis) in addition to leases or proof of building ownership. Q: Must new investors fulfill application requirements beyond those of established business owners? Gough: Depending on the loan request, an established business owner

may need to provide financials on their existing laundromat. This would include taxes on the store, 12 months of utilities bills, and the existing equipment mix along with what the final equipment mix will be after the equipment purchase. Whitney: The process for new investors is generally the same for established business owners. However, an important requirement for new investors is to have a complete business plan for the operations of the laundromat, including services to offer, hours of operation, marketing approach, personnel, and any plans for upgrading equipment. Frazier: Generally, newer investors will have to provide all the information requirements I’ve already listed for a larger-size deal along with demographic information on the location, along with the applicant’s business plan. Presenting a well-thought-out plan will help the applicant’s chances of getting the deal approved. Q: In short, how should an applicant respond to any question a lender poses of them? Whitney: Be honest, and be prepared to provide required documentation. Frazier: Applicants should just be honest and forthright in responding to questions posed by the lender. The lender is looking to develop a relationship based upon trust, and lenders realize that everyone’s situation is unique and they all have their own story. Gough: With openness and honesty. It helps when the applicant understands that the lender is on their side. There are requirements that every lender has to adhere to, and they are trying to gather all the information and documentation needed to obtain an approval for the loan amount the applicant has requested. Q: When your organization reviews applications for financing, what stands out about those that are virtual locks for approval? Frazier: Applicants who already have a proven track record in the industry or another related industry, have strong sources of outside income, have adequate working capital, and have had comparable debt and paid it timely are strong candidates for approval. Gough: There are so many variables that play into getting approved. However, a solid credit history, cash reserves, and submitting all of the required financial package in the beginning of the application process helps in getting a quick approval. Whitney: Among the things that stand out are having strong entrepreneurial experience and/or business plan, a location with strong cash flow and debt service coverage, and good personal credit with sufficient cash investment/reserves. Q: In general, what are some things that applicants should not do when seeking laundry equipment or project financing?

(Image licensed by Ingram Image) 16 AMERICAN COINOP JANUARY 2024

0124aco_p010,014,016-017-Answering All the Right Questions-FINAL.indd 16

Gough: When deciding on what laundry equipment to purchase, it should never be based solely on price. The equipment performance and reliability should be factored into the decision-making process. Choosing state-of-the art technology is important but choosing a distributor that you trust can be just as important. With regard to new-store transactions, where construction or improvements are involved, we recommend not financing the total cost of the project (equipment purchase, construction, card systems, etc.). Investors www.americancoinop.com

12/11/23 10:25 AM

may have the ability to finance the full project, but being fully leveraged is never a good idea. You want the cash flow from the store to make the debt payments. And by financing the total project, that is putting a high expectation on what the store needs to do in a short amount of time. Investors should never sign a lease prior to getting approved for equipment financing and making sure the landlord agrees to signing the lender’s “Landlord Consent” document. This document is usually a requirement to providing equipment financing. Whitney: Avoid being vague or inaccurate in your responses. Do not apply without a complete business plan and projections for the store under your ownership. Frazier: Whether it be a new investor or an existing store owner looking to expand, they should analyze prospective deals based upon a worstcase scenario and make certain that the project is feasible. Too many times, we hear of someone who thinks they can get into this industry and quit their job. One, two, or even three stores with debt probably isn’t going to allow that to happen. We always recommend that people continue running their business and jobs until such time that they are making in the laundry at least 2.5-3 times what they are making in their other business or job. Q: What advice do you have for the operator or investor whose loan

www.americancoinop.com

0124aco_p010,014,016-017-Answering All the Right Questions-FINAL.indd 17

application has just been turned down? Whitney: Focus on weak points and start working toward improvements. Build cash reserves and personal credit while continuing your research on the laundry industry and searching for the location that best fits your financial strength and business goals. Frazier: If an applicant is turned down for a loan, they should ask for and understand exactly what factors caused the turn-down and what the lender recommends they do to correct or improve those factors to get approved in the future. Gough: We always provide suggestions on what they need to do to get them to the point of an approved application. Often, it is due to derogatory credit or lack of down payment. If it is derogatory credit, the investor will need to reestablish their credit by paying on time to their existing creditors or taking out a loan (i.e. using their savings account as collateral) and making timely payments to build back up their credit. The solution depends on the cause of the credit issue. With regard to down payment, they will need to continue to save or seek other options for that down payment (i.e. equity financing on real estate they own). Our goal is to set the investor up for long-term success in the laundry business and to help them feel comfortable with the financial decisions they are having to make.

JANUARY 2024 AMERICAN COINOP 17

12/11/23 10:25 AM

POINTERS FROM PAULIE B

INSIGHTS INTO REDUCING YOUR NUMBER OF STORE EMERGENCY CALLS I

Paul Russo

f you’ve owned a laundromat for a while, you know the stress of receiving emergency calls. They can come at any time, and often when you least desire them: weekends, vacations, at night when you’re sleeping, or even when you’re just sitting down for dinner. The reason behind a call can vary, from an angry customer demanding to speak to the owner, the sewer is backing up, all the way to there being a raging fire. My column this month is intended to help you deal with the emergency calls you receive related to your laundromat business. We can’t eliminate them, but there are ways to cut them down dramatically. There are basically four domains of emergency call causes: equipment failure, criminal acts, behavior of customers and/ or employees, and behavior of neighboring shopkeepers.

MAN AND MACHINERY Most of the calls received concern equipment failure. The good news is they are the issues that are most under your control. The bad news is that solving them requires time, effort, and some money. Let’s Start with Lint, the True Enemy of Laundromats — It’s highly flammable. Put some in a fireplace, light it and watch how fast it burns! Make a video to show your crew and they’ll be convinced. If you want to avoid dryer fires, which can be catastrophic, you must keep your dryers as free of lint as possible. Don’t let lint build up anywhere near, around, or inside your dryers. This approach goes way beyond just cleaning lint screens. For every machine, keep the firebox, lint box, machine top, machine rear, exhaust duct, backdraft damper and drive train

Vending Products • Fluff n Fold Paper Products • Attendant Items

UP TO

OFF

PARTS LIST PRICES

800-640-7772

Your One Stop Laundry Distributor Since 1959

www.sudsy.com

18 AMERICAN COINOP JANUARY 2024

0124aco_p018,020-021-RUSSO-Reducing Emergency Calls-FINAL.indd 18

www.LaundryParts.com

24-7 PARTS ORDERING www.americancoinop.com

12/11/23 10:25 AM

clear of lint. Arm yourself with a compressor and blowgun and do this after hours; you don’t want customers around for this. Wear PPE (personal protective equipment) and shut off the power to your dryers first. Blast the lint out of every nook and cranny you can find. While you’re at it, blow out the motors, computer boards and coin mechanisms. This cuts down on part failure. To effectively keep lint from building up, you may be required to do this a few times a year or more. This will dramatically lower the risk of a dryer fire starting and/or getting out of control. Another issue related to lint is drain lines becoming backed up. Once I began a routine program of having all drain lines snaked out twice a year, I never had a drain backup again. Tell the drain mechanic you want him to use a C-shaped cutting head to scrape any buildup off the insides of your drain pipes and elbows. If you’re cleaning 4-inch drains, use a 3-inch scraper to allow the snake to get past elbows. This will also loosen up any coins or debris that is resting along your horizontal pipe runs,

(Photo: © NewAfrica/Depositphotos)

so make sure you run lots of water in the drain while snaking so you can wash down all the debris into your trap. You may want to water-jet the lines the first time you do this, because you’ll have a lot of junk in your trap to shovel out. (Note: Snaking is cheaper than water-jetting, but it may pay to

water-jet the first time.) Change Machine or VTM — An out-oforder change machine or VTM (Value Transfer Machine for laundry cards) can become a pinch point that will shut down your operation. If you can’t give change, or process a laundry/credit card, you’ll be hemorrhaging customers that day. Hence, an emergency. And these things always seem to happen on a weekend. The solution is simple: you should have more than one changer or VTM. Yes, they’re expensive, but you’ll sleep better. Even though your crew will call you about the one machine, you won’t have to immediately drop everything to come and fix it. If you can’t afford a second machine, or have no place to install one, then stock as many modular parts as necessary. This allows you to direct someone else to swap out the bad part. Usually, it’s your coin hoppers or bill acceptors jamming up. If you have a new (or rebuilt) one ready to go, it’s not hard for someone to swap it out for you. “But what about the key needed to unlock

THE BEST EQUIPMENT AVAILABLE AT THE

BEST PRICES!

The #1 Regional Distributor of Commercial Laundry Equipment, proudly serving businesses throughout Pennsylvania, New Jersey, Delaware, and Maryland for over 48-years! We are experts in Commercial Laundry Solutions.

NOW HIRING

CALL US TODAY! 800.362.1900

www.acpowerco.com

FOR ALL POSTIONS! www.americancoinop.com

0124aco_p018,020-021-RUSSO-Reducing Emergency Calls-FINAL.indd 19

77 Streamwhistle Dr., Ivyland, PA 18974 E: Info@acpowerco.com

JANUARY 2024 AMERICAN COINOP 19

12/11/23 10:25 AM

POINTERS FROM PAULIE B the machine?” you ask. Keep the key in an envelope and store it discreetly in a safe with digital lock. When needed, you give a trusted, pretrained employee the combination and they can do the rest. The next time you come in, return the key to the safe and change the combination. Nip Things in the Bud with Routine Inspections — These inspections can be simple as listening for and addressing unusual noises coming from your equipment. If something sounds off, it usually leads to a bigger issue later, which could generate an emergency call. Better yet is to visually inspect every machine when you visit your mat. For instance, using a flashlight to peer through the holes in the bottom of a washer basket will often reveal some item like a credit card or bra underwire loitering around the top of the drum’s drain hole. If you don’t remove the object right away, it will work its way down into the drain valve. Drain valve blockages have been known to cause a nice flood when the customer opens the washer door, creating not only a mess but a slip hazard and a possible shock hazard.

Log All of Your Repairs — A repair log can be useful in helping you spot trends with your equipment. For example, if you notice that you’ve been changing a lot of washer valve diaphragms, then you may want to change them all so you won’t have to deal with a water valve failure every couple weeks. Change Your Washer Hoses — If you have inexpensive washer hoses that are more than five years old, change them all. Mat machines are not home washers. Consider that the water valves have snapped on and off hundreds of thousands of times during that five-year period. A hose splitting or popping off the washer is a great way to ruin everyone’s day, especially yours. Buy the best hoses you can find. I switched to 3 /4-inch hoses with solid brass fittings and 200 psi rubber. They deliver water faster into your washers, which allows the cycle to finish a minute or two sooner. The hoses will pay for themselves by giving your machines a slightly faster turnover, which comes in handy during busy times.

20 AMERICAN COINOP JANUARY 2024

0124aco_p018,020-021-RUSSO-Reducing Emergency Calls-FINAL.indd 20

DETER, DETER, DETER Have the police ever called you at 3 a.m. to inform you that your mat has been broken into? I received many such calls; my stores weren’t open 24/7. I covered security strategies in previous columns, so I’ll just focus here on prevention to cut down on your crime-related calls. You must present your mat as being so secure that the bad guys will pass it up for an easier target. Good lighting at night is a must. If crooks are breaking in through your roof vents, then light up your roof from two separate angles. And light up the back of your store, too. Roll-down gates are a must in high-crime areas. There are now perforated steel shutters that are secure, yet allow the police to see inside a store. This could make bad guys nervous enough to choose a different location. If you’re aware of instances in your area where trucks have been used to smash into storefronts, install bollards (short posts used to divert traffic). You can install the standard vertical pipe

www.americancoinop.com

12/11/23 10:25 AM

bollards, which are the most secure, but I sort of like the idea of using heavy-duty bike racks for double duty.

TRAIN AND TEST Employ a Great Crew and Train Them to Handle Emergencies — It’s quite helpful to have a manager or trusted employee at a higher rate of pay to help you with emergencies. If you don’t have someone like this in your operation, then perhaps a trusted friend or relative. If you’re away on vacation, employees can call this person to oversee various emergencies to keep your doors open. Regarding training, your regular staff should be instructed how to handle a dryer fire. Teach your workers to evacuate the area, and always have them shut the power off first so the dryer stops fanning the flames inside. Then they retrieve a fire extinguisher, open the dryer door just an inch or two and blast the base of the fire. (Important: If the fire is already out of control, call 911 FIRST before fighting the flames.)

When training, have them do a “return demonstration,” where your staff member shows you how they would proceed. This way, you can be sure they clearly understand the procedure. Review this protocol every six months or so, and it doesn’t hurt to post the instructions right above your fire extinguisher. Consumer Education — As for your customers, posting simple but clear signage that instructs someone how to properly use your equipment helps deliver a positive customer experience; bilingual is best. The easier it is for customers to use your machines, the fewer usage problems will occur and there’ll be fewer customers demanding to speak to the owner.

COEXISTING

called in a gas leak. The whole building had to be shut down. Other issues with adjoining businesses can be competition over limited parking breaking into a fight, your customer’s car getting towed, or your neighboring shopkeepers sending all their homeless to your store to use your restroom. But things can also go the other way: your mat could flood your neighbors, generating panic and anger on their part. I think the more you can separate your mat from any other stores, the better. In conclusion, try to keep things simple. It stands to reason that every piece of equipment in your mat will fail eventually, so the more options and gadgets your mat has, the more things will break. And the more things that break, the more calls you’ll get.

If you don’t have your own dedicated utilities coming into your mat, you will occasionally experience utility shutoffs. For instance, I experienced a shutdown that lasted for days because another shopkeeper in the building who badly neglected her store

Paul Russo owned and operated multiple laundromats in New York City for more than 40 years before retiring in 2018. You’re welcome to direct any questions or comments for Russo to Editor Bruce Beggs at bbeggs@atmags.com.

Sales, Service and Parts for Commercial Laundry Equipment WE OFFER ■

Demographic analysis

■

Site Selection/ Evaluation

■

Lease Negotiations

■

Laundry facility layout and design Equipment recommendations and comparisons Construction and professional installation

Authorized dealer for: Maytag, ADC, Domus, ESD, CCI, Laundroworks and many more.

718.871.7545 ■ superior-laundry.com New York • New Jersey • Maryland • Pennsylvania • Deleware www.americancoinop.com 0723aco_Superior Laundry Equipment- Standard_half_horz-2 copy.indd 1

0124aco_p018,020-021-RUSSO-Reducing Emergency Calls-FINAL.indd 21

JANUARY 2024 AMERICAN COINOP 21 AM 6/9/23 10:24

12/11/23 10:25 AM

CLASSIFIEDS 2024 RATES: One- to five-time rate: $3.00 per word, boldface $3.05 per word. Minimum charge: $50.00 per ad. Call or write for our six- and 12-time rates. If box number is used, add cost of 5 words.

Display classified rates are available on request. All major credit cards are accepted.

example, for a July ad, the closing date is May 1st.

DEADLINE: Ads must be received by the 1st of the preceding month. For

PAYMENT FOR CLASSIFIED ADS: Must accompany order.

DRYER BOOSTER & EXHAUST FANS

EQUIPMENT FOR SALE

ELECTRONIC REPAIRS

COIN DROP for a Buck & a Quarter

(800) 446-2719 imonex.com

Reach

EQUIPMENT FOR SALE

LOOKING TO SELL SOME

ACO 3.5 inch class display.indd 1

8/2/23 9:35 AM

USED EQUIPMENT?

CoinAdvertise Laundries Today

Contact Don Feinstein • 312-361-1682

Contact sales to place your ad!

dfeinstein@atmags.com

Your Ad Should Be Here 22 AMERICAN COINOP JANUARY 2024

0124aco_p022-023-classifieds-FINAL.indd 22

Contact classified sales to place your ad! classifieds@atmags.com

Check Out More Listings ONLINE

www.AmericanCoinOp.com www.americancoinop.com

12/11/23 10:21 AM

PAYMENT SYSTEMS

SERVICES AND SUPPLIES

SAVE

ON WDF PLASTIC BAGS

EVERYDAY

Reduce Waste • Cut out the Middle Man • Build Proﬁt

We Manufacture and Deliver

WDF Plastic Bags Factory Direct

Why haven’t laundry owners added credit card acceptance on their washers and dryers?

LOW PRICES

VENDING MACHINE PRODUCTS WASH N’ FOLD BAGS

Made in Wisconsin

• They Say It’s Unaffordable • They Think There Are Too Many Choices • They Heard It’s Difﬁcult to Install and Use

PLASTIC COIN-OP BAGS

LuetzowInd.com 800-558-6055

CryptoPay answers ALL of these concerns. To see how, give us a call!

WIRE CARTS

800-568-7768

 719-822-0294

CLEANERSUPPLY.COM

www.getcryptopay.com/laundry.php

www.AmericanCoinOp.com

+ 000 Annual Visitors

1123aco_Luetzow_3 inch class.indd 1

Advertise Today Contact Don Feinstein • 312-361-1682

www.AmericanCoinOp.com

ADVERTISERS’ INDEX Advertiser

Page

Advertiser

Page

AC Power........................................................19

Luetzow Industries ..........................................23

American Switch ...................................... 20, 23

Monarch Coin & Security ..............................17

Card Concepts ..................................................7

Mountain Electronics......................................22

Cleaner’s Supply ..............................................23

PayRange ..................................................... IBC

CryptoPay .......................................................23

Setomatic Systems ....................................... IFC

Curbside Laundries ...........................................3

Standard Change-Makers ..................................1

DT Equipment ...............................................11

Sudsy Vending Supplies ..................................18

ESD Inc. ........................................... 12-13, BC

Superior Laundry Equipment .........................21

Gold Coin Laundry Equipment........................9

Tjernlund Products .........................................22

Imonex Services ..............................................22

Vend-Rite..........................................................5

Laundry Concepts ..........................................15

WASH Commercial Laundry..........................22

LaundryParts.com ...........................................18

www.americancoinop.com

0124aco_p022-023-classifieds-FINAL.indd 23

WASCO GEN 5 DOOR LOCKS & TIMERS REBUILT Door Lock $85 • Gen 6 Door Lock $99 Gen 5 & 6 Timer $85 WASCO Gen 4 Timer $85 Continental Timer $115 DRYER COMPUTER BOARDS ADC Stack $75 • Single $60 Huebsch SQ Board $45 Huebsch Old Style Board $80 Stack Dexter/Continental $80 Dexter Coin Board $65 Huebsch MDC/EDC Computer Board $60 Washer Coin Boards $65 Some prices may vary!!!! JECON INC. 18415 140th Avenue Springfield Gardens, NY 11413 One-Year Warranty on All Parts Send Core Unit with S&H Fees Call Toll Free: 1-888-532-6677 (888-JECON77) Local: 718-525-3733 • Fax: 212-656-1913 718-525-2266 Visit: JECONINC.COM We Now Accept All Major Credit Cards

10/5/23 11:52 AM

TIMERS REBUILT REECO TC, Inc. — IPSO main & reverse, Dexter, Primus, Speed Queen, Maytag & Continental Girbau, Wascomat Generation 4, 5 and 6. WE’VE MOVED 811 W. Jericho Turnpike., Ste 104W Smithtown, NY 11787 631-498-6999 www.reecotimers.com

www.AmericanCoinOp.com JANUARY 2024 AMERICAN COINOP 23

12/11/23 10:21 AM

NEWSMAKERS SAN FRAN UTILITIES COMMISSION BOOSTS COMMERCIAL WASHER REBATE The San Francisco Public Utilities Commission (SFPUC), through Board President Aaron Peskin, recently increased the amount of its commercial washer rebate program to support local laundromats and shared laundry facilities. The program increased the rebate amount from $500 to $5,000 while funds last. The rebates apply to the purchase and installation of highefficiency commercial clothes washers. The additional funds were made available through a one-time budget appropriation from Peskin. Laundromats across San Francisco serve as a vital community resource, the SFPUC says, and the commercial washer rebate program offers these facilities an opportunity to lower their water usage and bills, benefiting business and the environment. “It’s a win for everybody,” says SFPUC General Manager Dennis Herrera. “I want to thank Board President Peskin for his work securing additional funding so we could increase our commercial washer rebates. Water conservation and affordability are major priorities for the SFPUC. This helps accomplish both by saving water and money.” Peskin represents the dense neighborhoods of San Francisco’s District 3, and says he introduced legislation in 2021 to stem the loss of, and create protections for, neighborhood laundromats and to streamline the permitting process for new stores. “Now we are investing real dollars into meaningful incentives for operators by increasing the rebate amount they can use to upgrade their business infrastructure with sustainable and water-efficient laundry machines,” he adds. Eligible commercial washing machines have earned the Energy Star Label, a distinction awarded by the U.S. Environmental Protection Agency. To be eligible for this rebate, high-efficiency commercial clothes washers must: • Be installed in a laundromat, commercial property, or in the common area of a multi-family property with 10 or more dwellings • Be on the Energy Star Most Efficient qualifying products list • Be purchased within 90 days of submitting the application Additionally, applicants must be an SFPUC account holder; have not received a washer rebate from SFPUC in the past 10 years; and complete an onsite installation verification inspection by the SFPUC. SFPUC customers who think they may be eligible are encouraged to apply as soon as possible at sfpuc.org/washers.

CURBSIDE LAUNDRIES TO PRESENT PICKUP/DELIVERY, WDF CONFERENCE Point-of-sale and laundry pickup/delivery software developer Curbside Laundries has revealed plans for Curbside 2024, a three-day, early summer conference dedicated to laundry pickup and delivery and wash and fold services. Whether the desire is to increase revenue from an existing PUD service or just get started with the service (with or without a laundromat), Curbside promises its event will be “jam-packed with practical information from laundry owners and industry insiders who have first-hand experience successfully growing profitable businesses.” Hands-on topics will include how to acquire new customers, improve customer retention, increase profit margins, attract commercial accounts, enhance your online reputation, and market your service. Attendees of the June 26-28 event at the Hyatt Regency Long Beach in California will “learn, network and grow while enjoying the resort-like 24 AMERICAN COINOP JANUARY 2024

0124aco_p024-Newsmakers-FINAL.indd 24

feel of an award-winning hotel steps from the beach,” Curbside adds. The business is offering an early-bird rate that discounts the conference ticket by $200 through the end of January. Anyone interested may learn more about the conference’s agenda and scheduled speakers, and register online, by visiting curbsidelaundries. com/2024.

APPBASED LAUNDRY BUSINESS EARNS $75,000 ENTREPRENEUR AWARD Pharrell Williams’ Black Ambition, the non-profit initiative dedicated to supporting Black and Hispanic entrepreneurs, awarded $3.2 million to 36 prize winners in November during its third annual “Demo Day” event in New York City. One of the winners was Suds Laundry Service, which services the greater Baton Rouge, Louisiana, area. It received $75,000 as an HBCU Track Prize recipient in the Technology category.

Chris Hilliard (center), CEO of Suds Laundry Service, holds his company’s “check” with a group of finalists in the Black Ambition entrepreneur competition. Hilliard’s app-based business was awarded $75,000 in the Technology category during the “Demo Day” event in New York City. (Photo: Black Ambition) Suds is an on-demand mobile application that allows consumers, both commercial and residential, the ability to have garments picked up, processed, cleaned, and delivered to them within 24-48 hours. The service works with Baton Rouge area laundromats and dry cleaners to facilitate the cleaning and provide them with a platform for an untapped customer base. In the nationwide competition, a group of over 2,000 applicants was narrowed to 50 finalists, then condensed further to the top 36. Those businesses all received prize awards ranging from $20,000 to $200,000, then the final eight advancing finalists had the opportunity to pitch live on stage to a panel of judges for a chance to win the $1 million grand prize. That prize was won by Expert IEP, a parent-facing app that optimizes existing Individualized Education Plans with predictive AI for children diagnosed with a disability. The Black Ambition Prize is more than a monetary reward. In addition to mentorship, prize winners receive resources and connections to additional investors and funding. They also receive biweekly office hours with leaders in marketing, PR and brand building; attend town hall meetings with Williams; and receive life coaching and therapeutic workshops that encourage a holistic career approach. As a producer, songwriter and performer, Williams is recognized as one of the most influential figures in hip-hop, R&B and pop music. Since he launched Black Ambition in 2020, it has awarded approximately $6 million to entrepreneurs. www.americancoinop.com

12/12/23 1:13 M

BluKey PayStation™ Flexible Payment Options to Meet Your Customers’ Needs Accommodate all customers, no phone or account needed

Simple to install, mounts on wall and requires standard 110 outlet

Available in two sizes, starting at only $1,695

Compatible with all existing PayRange devices

Accept cards, mobile, gift cards, coupon codes, and more

Connects via cellular, wifi, or ethernet connection

Order today at

ACO StandardPage.indd 1

12/5/23 10:21 AM

Trident and CyclePay EMV Credit Card

Trident Reader

Mobile Phone App

o ed t re If e n No our sto an rd y reca ou have ard y agc m D ES ystem s

Mobile

Fast and Flexible Laundry Payment System

Contactless Loyalty Card

Contact Your ESD® Distributor or email us at: s a l e s @ e s d c a r d . c o m • P h one: 2 1 5 - 6 2 8 - 0 8 6 0 F ax : 2 1 5 - 6 4 3 - 4 6 2 3 • w w w . e s d c a r d . c o m

ACO StandardPage.indd 1 ESD 2pg Ad AmCnOp Dec. 23 Perfect Pair.indd 1

Mag Stripe Loyalty Card

11/ /23 11:53 AM 11/9/23 12:41 PM