Token Transition: Change Your Bottom Line
Change is hard, and fear of the unknown is real. But change is also what propels us forward and improves our lives. Innovation is the heartbeat of our culture and impacts everything from education to employment to personal relationships.
Tokens Are Working at the Car Wash
One small business owner discovered that a small change could add up to a big change in his car wash business. Mark Jolin, owner of Big Bunny’s Dunk ‘N Foam-It Car Wash in Southbridge, MA, accepted quarters in his machines for many years, charging $2.50 for 4 minutes of automated service. The quarters were an ongoing hassle and a black hole for his time and energy. He decided to switch to a $1 token system, and according to Jolin, the transition made an “immediate improvement in day-to-day operations.”[1]
A Nostalgic Experience
Similarly, Pints & Pixels, a start-up Alabama bar, and old-fashioned arcade, knew they wanted to mix things up on their game floor debut. With Pac Man and the Ninja Turtles on board, they had no trouble getting folks into their doors, but co-owners Sherry Wallace and Richard Moss wanted to deepen the retro experience by using tokens instead of quarters. Their customers are having a great time and loving the tokens. They can’t say enough about them: “their ease of use, their value to cost ratio, and that little pixilated alien” will likely keep them coming back for more.[2]
Time and Money
But besides the benefits of fewer hassles, more fun, and a stroll down memory lane, there are plenty of measurable advantages to using tokens instead of coins, advantages that affect a business’s bottom line. Jolin, for example, has been able to bump that $2.50 service up to $3, a move that was way past due, and he did it in a way that felt more natural to him from a customer service perspective. P&P has noted the reduced maintenance in the token system, which requires fewer trips to the bank and tokens stay cleaner than tickets and are more easily reusable.
Takeaways and Branding
Any business that uses tokens is subject to the advantage of the takeaway phenomenon, in which a customer purchases tokens, has one or two he cannot use (often never uses), and that sell becomes pure profit. In addition, the marketing and promotional opportunities are only as limited as your imagination. They can be handed out to potential clients you run into at the mall, hair salon, or football game, for example. And Pints & Pixels uses them as incentives, giving a token to each customer who buys a beverage. Moss also finds that the bookkeeping and security issues that can lead to loss of cash aren’t relevant with tokens.
Standard Change Can Help
Standard Change is also a small business, and we understand your challenges. We offer change machines of sturdy and rugged and construction, exceptional customer service practices, and a two-year warranty on all our machines. At Standard Change, we make change happen.
Learn more here about how Standard Change can help you transition to a profitable token system.
[1] http://www.carwashmag.com/home/article/switch-to-tokens-the-change-this-car-wash-needed/6c6ae65879cd60c057f5c348f8f23e72.html
[2] https://tokensdirect.com/news/how-increase-premise-gaming-revenue-tokens
