Is It Time to Go Coinless? with Dave & Carla Menz

 There are so many options for modernizing your payment system - how do you possibly choose what's right for you and your customers? How do you ensure customer retention through the transition? In this episode, Dave & Carla share the options, their plans for incentives and a successful transition, as well as real-world results from their stores.Referenced Links: Our Sponsors: H-M Company Drain Troughs: https://www.draintroughs.com & LaundroBoost: https://laundroboostmarketing.comOur Website: https://www.laundromatmillionaire.comOur Online Course: https://dave-menz.mykajabi.com/sales-pageOur Youtube channel: https://youtube.com/c/LaundromatMillionaireOur Podcast: https://laundromatmillionaire.com/podcast/Our Facebook: https://www.facebook.com/laundromatmillionaire/Our Facebook Group: https://www.facebook.com/groups/laundromatmillionaireOur LinkedIn: https://www.linkedin.com/in/dave-laundromat-millionaire-menz/Our Instagram: https://www.instagram.com/laundromatmillionaire/Our laundromats: https://www.queencitylaundry.comOur pick-up and delivery laundry services: https://www.queencitylaundry.com/deliveryOur WDF & Delivery Workshop: https://laundromatmillionaire.com/pick-up-delivery-workshop/Suggested Services Page: https://www.laundromatmillionaire.com/servicesWDF & Delivery Dynamics: A Complete Business Blueprint: https://laundromatmillionaire.com/wdf-delivery-dynamics-a-business-blueprint/The Laundromat Millionaire Insurance Program: https://laundromatmillionaire.com/insurance/Timestamps 00:00 Episode 114 Intro – Modernized Payment Systems00:58 Spotlight: Laundromat Millionaire Calendar of Events02:20 Is it Time to Modernize Your Payment System?05:22 Reasons to Transition Away from Coins09:13 Intro – the Different Payment Options that Exist10:19 Loyalty Card Systems11:35 Pay by App12:59 Phone Pay13:26 Pay with Credit or Debit Cards20:07 Our Transition Through Payment Systems – Quarters to Dollars First23:00 Going to a Hybrid System27:56 Costs & Benefits of Going to a Hybrid Payment System31:44 Successfully Transitioning to Coinless34:50 Avoiding the term “Coinless”38:12 Staffing for the Transition43:15 The Impact on Sales45:18 Customer Feedback46:22 The Benefits of Loyalty Cards – The Float & Promotions49:22 Replacement Card Solutions50:53 Next Steps in Our Transition & Final Thoughts