CHICAGO — With 2025 nearing, American Coin-Op is reflecting on 2024 and the top 10 stories (based on page views) posted here on AmericanCoinOp.com during the year.
(In instances where the Top 10 story was part of a larger series, we have provided additional links so you can easily read the entire article.)
Here is the bottom half of our 2024 Top 10 list, starting with No. 10:
10. What Laundry Owners Should Know About New Reporting Requirements
In an effort to combat money laundering and other financial crimes, the federal government passed legislation that required most small- to mid-sized companies, including laundromats and on-demand laundry services, to document who has a hand in their operation.
Our multi-part article explained the Corporate Transparency Act and the role the Financial Crimes Enforcement Network (FinCEN) plays in gathering Beneficial Ownership Information (BOI), as well as what information laundry owners were being asked to provide.
(Editor's note: There's been a legal challenge to the CTA and BOI reporting that recently impacted its enforcement. For the latest information, read “Back and Forth: BOI Reporting Enforcement Blocked Again.”)
9. NJ Labor Dept. Focuses Attention on State’s Laundromats
As 2024 began, the New Jersey Department of Labor and Workforce Development mailed materials to owners of the state’s 950 laundromats to help ensure they would start the new year in compliance with the state’s labor laws.
It was part of an ongoing Strategic Enforcement initiative in the retail, coin-operated laundromat industry by the agency’s Division of Wage and Hour Compliance to make sure employers were aware of—and in compliance with—earned sick leave, minimum wage, overtime and other laws.
8. SBA Exhausts Funds for New Disaster Loans
In October, the U.S. Small Business Administration announced that it had exhausted funds for its disaster loan program following increased demand related to Hurricane Helene. The SBA encouraged individuals and small businesses to continue to apply for loans because it expected Congress to provide additional funding upon returning to session.
7. Laundroworks, Cents Enter into Partnership
In March, Cents, a business management and in-store operations platform that enables laundromat owners to start, manage and grow their business, and Laundroworks, which produces loyalty card payment systems for laundromats and multi-family shared laundry rooms, announced they had joined forces (later in the year, it was announced that Cents had acquired Laundroworks).
Together, the two endeavor to create a true all-in-one solution by pairing Laundroworks’ affordable and reliable on-machine payment systems with Cents’ full-service laundry point-of-sale and business management system.
6. Alliance Laundry Systems Acquires Western Distributor
In September, equipment manufacturer Alliance reported growing its direct distribution in the West with the acquisition of Alliance Laundry Equipment based in Salt Lake City. Terms of the deal were not released. Alliance Laundry Equipment became part of the Alliance Laundry Systems Distribution West Region, while maintaining its Utah office.
Check back tomorrow, Dec. 31, when we reveal our top five articles for 2024!
Have a question or comment? E-mail our editor Bruce Beggs at [email protected].
