How does this sound for a business plan: You give customers $20 in cash, and in exchange they give you $27. Does that sound fair? It's exactly what one Internet startup is proposing.
A new website is betting it all that you'll pay $7 a month not to have to scrounge for quarters every time you want to do laundry or feed the meter. It's called Washboard, and it works like this: You subscribe to the site for $26.99 a month, and every month Washboard will mail you $20 worth of quarters.
Co-founder Caleb Brown explains why he started the company:
"The only reason in the last five years that I've been to the bank is to get quarters for laundry. For me, it was just a personal real problem. So I assume that's why it's happening for those guys as well. You're on your own, you're doing laundry, and there are pain points there that no one ever really cared about before."
Basically, Washboard is betting its existence that people are too lazy to swing by the bank or the corner store or a dozen other places to get change. How many people have proven to be that lazy so far? According to Brown:
"It is a legit business," he said. "We do have customers. A few. Very few. Less than 10."
What do you think? Would you ever sign up for this audacious quarter delivery service? Let me know in the comments below.