Section 179 Tax Savings Add Up to FREE Machines

Featured

Section 179 Increased to One Million for 2018. Now is the time to upgrade!
If you are thinking of investing in new commercial laundry equipment, do not delay! You can save hundreds of thousands of dollars if you buy and put machinery into use before December 31, 2018.

Drumroll please…
Section 179 of the IRS 2018 tax code allows U.S. businesses to deduct the full purchase price of qualifying equipment during the tax year. That means that if you buy qualifying equipment and put it in service this year, you can deduct the FULL PURCHASE PRICE from your gross income. In past years, you would have to depreciate an asset over a multi-year period.

Bonus Depreciation is at 100% this year
The 2018 tax law also increases the bonus depreciation percentage from 50% to 100% for laundry equipment placed in service before the end of the year. When applying these provisions, Section 179 is generally taken first, followed by Bonus Depreciation. Please speak with your tax advisor to learn more.

Get added peace of mind with Rate Guard
When you purchase Electrolux or Wascomat commercial laundry equipment, you can lock in your rate with Rate Guard – only available from Laundrylux Funding Services.  It provides the lowest rates available and locks it in, giving you peace of mind and more money in your pocket. Not only that, you can get approved in less than 24 hours.

HUGE savings
If you want an idea on what you can save, try the calculator on www.section179.org – you will be amazed at the estimated results.

  • For example, using the 2018 Section 179 Tax Deduction on $400,000 worth of

    Another example using the calculator shows a savings of $52,500 on $150,000 in equipment.

    equipment and other qualifying business equipment it shows a cash savings of $140,000!  In this example, the $400,000 in equipment purchased has a true cost of $260,000.

  • It’s worth it even on smaller purchases. For example, it calculates that $75,000 in equipment purchased has a true cost of $48,750 – saving $26,250.

The deadline is December 31, 2018
You must act quickly. In order to qualify for a Section 179 deduction, equipment must be purchased or financed and placed into service within the 2018 tax year – by 12/31/18.

Be sure to consult with your CPA or tax professional to find out if you qualify for Section 179, and if it could help your business save money.

Get pre-approved today. Email finance@laundrylux.com or call our experts at 1-(800) 645-2205.

Coins, Cards, or LaundryPay — Which Laundromat Payment System Is Right For You?

How to Start a Laundromat Business: Part 8

Laundrylux is very excited about the launch of LaundryPay, our exclusive smartphone app that gives laundromat customers control over their laundry experience. With LaundryPay, your customers can pay for their wash directly from the LaundryPay app, earn loyalty points for use in your store, and even check machine availability before leaving home.

To coincide with the launch of this game-changing technology, this month’s How to Start a Laundromat post is all about the different types of payment systems available to laundromat owners and how you can choose the right system for your store.

In a hurry? Jump to our quick tips section.

Laundromat Payment: It’s No Longer Coin vs Card

Traditionally, the dilemma for laundromat owners was simple: coin vs card. We will explore the pros and cons of both of these options below. But with the launch of LaundryPay, customers can experience the most convenient laundromat payment method with a host of added benefits. So before exploring traditional technologies, let’s dive right in and explore the ultimate laundromat payment system.

Coins, Cards, or LaundryPay — whatever payment system you choose, Laundrylux can help you build a profitable laundromat business. Talk to an expert today!

LaundryPay — The Ultimate Laundromat Payment System

If you want to offer customers the ultimate in laundromat convenience, LaundryPay is for you. Designed by laundry business experts, the LaundryPay app is sure to be the best laundromat payment system for Electrolux store owners. Our smartphone app not only allows customers to pay with their mobile phone but also gives them complete control over their laundromat experience.

LaundryPay is The Easiest Way To Pay

Once customers have downloaded the LaundryPay app to their Apple or Android device, they can add funds anywhere and anytime using their credit card, debit card or EBT card.

With funds in their account, they simply scan the QR code on the machine they would like to use, and LaundryPay does the rest. No need for quarters, no need to bring a credit card — everything your customers need for a convenient laundromat experience is right there on their phone!

Want to provide a cash option? Add a kiosk to your store.

If you would like to give customers the option to add funds to their LaundryPay account using cash, simply add a LaundryPay kiosk to your store. Your customers get all the benefits of LaundryPay, without the need to use a credit, debit, or EBT card.

LaundryPay Has Many Extra Benefits

LaundryPay is more than just a laundromat payment system. Your customers will love all of the extra benefits of our smartphone app.

LaundryPay’s Optional Built-in Reward Program

Do you want to set up a loyalty program to keep customers returning to your laundromat? Look no further — LaundryPay has an optional reward program built into the smartphone app. If you choose to enable this program in your store, customers can earn reward points which can be redeemed for a free wash or dry, giving them even more incentive to choose your laundromat over the competition.

Ultimate Convenience with LaundryPay

Through the LaundryPay app, customers can check machine availability at your store anytime and anywhere, meaning they’ll never need to wait for a washer again. They can also receive notifications when their cycle is complete, giving them the freedom to run errands or grab a bite to eat while they wait.

LaundryPulse: The Revolutionary Digital Laundromat Management System

LaundryPay works together with LaundryPulse, the ultimate laundromat management system from Laundrylux. This powerful software gives you the ability to run your store — or multiple stores — directly from your laptop. When you equip your store with LaundryPulse and LaundryPay, you’ll be entering the future of laundromat management.
Visit the LaundryPulse website, to learn more.

Traditional Payment Systems: The Pros and Cons of Coin

Coin Operated Payment Systems

Many prospective laundromat owners enter the laundromat business assuming that customers will pay for their machines with quarters. And while there are more advanced systems available, for some, coin is still a viable option.

The Pros of Quarters

A great thing about coin is its availability. Just about everyone has access to coins — something to consider if your laundromat is in a neighborhood where not everyone has a credit card. Coin systems are also suitable in areas with a lot of temporary residents like tourists or seasonal workers who may only want to use your store a few times and are not interested in loyalty programs.

The Cons Of Cash

Security, vandalism, and maintenance are the downsides of choosing coin as your main payment method. For owners of fully-staffed laundromats, these may not be major concerns. But if you plan to open a self-service coin store, you’ll need to plan for regular visits to your premises to empty coin boxes.

Remember! With LaundryPay, customers can use cash to top up their account. Simply add a LaundryPay kiosk to your store.

Traditional Payment Systems: The Pros and Cons of Cards

Card Payment Systems

A step up from coin drop boxes are card payment systems. Card payment systems come in two main forms — there are simple card readers that allow customers to pay with credit/debit cards, and there are systems where customers can purchase and top-up a prepaid laundry card.

The Pros of Plastic

Many customers routinely use credit cards as their primary payment method. By equipping your machines with a credit card system, you may see these customers choose your store over your competition.

The Pros of Pre-Paid Laundry Cards

Prepaid laundry cards have many benefits over coin systems, though almost all of these advantages also apply to LaundryPay. Benefits include customer loyalty (customers may have a balance remaining on their card, so will return to your store), security and labor savings (without coin boxes, vandalism and collecting quarters are not a concern), and pricing flexibility (your pricing strategy is no longer tied to $0.25c, allowing you to set any price you choose).

The Cons Of Card

Owners who already have a card system in place may find that it has many benefits. But if you are opening a new laundromat, card systems may fall into an awkward middle place between traditional coin systems and a modern smartphone payment system like LaundryPay. More and more consumers are predicted to move towards mobile payment in the coming years and store owners may find card systems are out-of-date before long.

Remember! LaundryPay offers many extra benefits besides easy payment. Machine availability, wash notifications, and loyalty rewards!

Quick Tips for Entrepreneurs in a Hurry

★  Coin, card, and now the LaundryPay smartphone app are the main options for laundromat payment systems.
Before choosing a payment system, consider your management style and the payment preferences of your customers.
Coin is the traditional laundromat payment method. The main pro for coin is the fact that almost everyone has access to cash. The main downside is the security/vandalism concern associated with coin boxes.
Card payment systems offer many benefits but may soon be out of date.
LaundryPay is the new payment system/ smartphone app available for Electrolux Professional and Wascomat Commercial equipment.
Laundromat customers can pay through the LaundryPay app, check machine availability before leaving home, and earn loyalty point towards a free wash or dry.

Ready to take the next step? Contact Laundrylux and speak to a laundromat expert today. Our sales team can help you choose the right payment system for your store.Contact Laundrylux today!

Helpful Resources:
For the highest-quality, energy-efficient washers and dryers, choose Electrolux Professional Coin Laundry Equipment.
Do you need laundry business financing? Laundrylux Funding Services can help.
Looking for marketing services for your new store? The experts at Laundrylux Creative Services can help make your laundromat a success.
Looking for experts in your area? Laundrylux has a huge network of local laundry experts. Contact us to be put in touch with your local expert today!