New “Fees” and What We Think of Them

Coin Meter Vertical Logo.Many customers have reached out to us because they’ve noticed how several large laundry companies in the country have notified them of new administrative fees anywhere from 5-9.5%, justifying them with new technology, customer service, security, or other upgrades.

This type of additional charge to their customer’s properties has become commonplace in our industry, prompting customers like you to ask if we will also be implementing a similar fee. The answer to this is: “Hell No.”

We believe these fees are unnecessary, and even unethical because ultimately they shortchange customers on their portion of the revenue from the laundry income. While we recognize you have relationships with other common laundry room providers, and may not have a choice on fees driven by national corporations, we want nothing to do with this practice.

Before the recent industry consolidation, I knew the family that owned one of the companies bought, and I knew several other owners that sold theirs to the other company. Thank Goodness both newly formed companies changed their names, so these fees won’t embarrass the original owners and family members. In my opinion, they never ever would do such an outrageous act to their customers. It is apparent that terrible management is operating through these private equity firms, which is forcing them to find creative ways to impose fees on you and others. It has become a very big black eye on our industry, and ironic that the largest companies are throwing the punches.

Coin Meter, however, has a personal commitment to our customers and our written agreements, and thus will not charge a similar administrative fee to you. We honor our written agreement terms with our customers, today and at any point in the future.

Your ability to plan and operate your laundry facility with profitability relies on your trust that we’ll live up to expectations. Coin Meter will continue to provide the superior technology, equipment, and service that you deserve and depend on, without added fees.

Please reach out if you have any further concerns – our team is local and happy to meet and listen. Coin Meter is proud to remain a partner you can trust to help ensure efficiency, convenience, and profitability in your laundry facility.

Thank you for your continued business and partnership.

Mike Marsden