Contemplating going Cashless?

[LAF]

I am contemplating going cashless in my 5 bay SS. Currently my ratio of cash to CC tranactions are 45%:55%. My thought is that- CC transactions are quicker to initiate, Count up gives a greater income/wash, decrease in time dealing with cash (probably 40-50% of labor time), Less risk of loss, and break-ins. I expect a decrease in income initially, but will it go up after people get used to it? I am in a mixed area of Low income immigrant workers and high income folks. I recently had a day where my change machines ran out of coins and it was one of my best days on record. (could have been because of cashless or in spite of it). I'd love to hear from anyone who has implemented this change. Thoughts on the best way to transition?

 

[OurTown]

We have never tried it and have similar ratios. Have you ever talked to your customers about it? I have tried to talk hundreds of customers into using cards and get a mix of responses. The smallest amount of them say "oh, I didn't notice that you took them". A larger amount of them say "no thanks, I would rather use cash". I think the majority of them say "oh, I don't have any cards". It is hard to believe that so many don't have them but I'm not sure why they would lie about that. If we ever get to near 90 percent CC then I would probably consider it then. If you do try it please let us know how it works out because I'm sure there are many of us that would love to do that. Also one more thing to consider: Our internet is pretty reliable but not always 100%. Is your internet super reliable?

 

[Earl Weiss]

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..................... I am in a mixed area of Low income immigrant workers and high income folks. I recently had a day where my change machines ran out of coins and it was one of my best days on record. (could have been because of cashless or in spite of it).




What I see is "Immigrant Workers" perhaps undocumented without access to CC, and your changer ran out of $- because so many customers needed to use it????

 

[Earl Weiss]

...... I am in a mixed area of Low income immigrant workers and high income folks. I recently had a day where my change machines ran out of coins and it was one of my best days on record. (could have been because of cashless or in spite of it).

What I see is "Immigrant Workers" Does this mean undocumented without access to CC? Changer ran out of $ --- because so many customers needed to use it?

 

[Undertaker II]

Is it possible that the day your change machine ran out was because you were busy? I run a wash with similar ratio's to you in terms of credit to cash and I don't currently accept debit but I do know there are lots of people who don't have or can't manage a credit card. I can't imagine not ever accepting cash and the amount of time involved in dealing with restocking of the changers is minimal. I'm in Canada and we accept $2, $1 and quarters and very rarely do I take much coin to the bank as it just goes back in to replenish the changer. Maybe I'm old school (not old) but I'm not a big fan of a cashless society!

 

[Greg Pack]

I have a friend that recently just rehabbed a site and opened cashless in a middle class area. He's had almost no pushback from customers once the system is explained, He loves it, and I think is planning to convert another site over the same way. I plan on going cashless within five Years or so, one of my sites is already 80% CC.

 

[Mchas]

For those of you with 50%+ credit card sales, do you charge the same minimum amount for cash or cards? My locations have higher credit card minimums ($5) to keep the fees lower.

 

[Wash4Life]

I myself would not do it for my car washes. Customer convenience.

 

[AnalyticWash]

I have a friend that recently just rehabbed a site and opened cashless in a middle class area. He's had almost no pushback from customers once the system is explained, He loves it, and I think is planning to convert another site over the same way. I plan on going cashless within five Years or so, one of my sites is already 80% CC.

Going cashless solves way more issues than it creates. Less site visits, less break-ins, less equipment to fail, less phone calls.

Our washes are also on a 2-5 year plan or less to go cashless depending on the site. With all the crime I have heard about with carwashes the last year I am surprised more people are not switching to cashless asap.

The one downside is low income customers that may not have access to credit or traditional banking. You may lose these customers...

 

[Roz]

Even with CC in the 80% plus we still have customers who save their quarters for the wash or do not trust CC machines. Customer convenience is key. Our accountant always says its better to make money and owe taxes than to not make money (or to make less money), make it easy for customers as they do not read ANYTHING you post at a wash. If the biggest hardship you have is collecting the money then you are doing well....

 

[traveler17]

Even with CC in the 80% plus we still have customers who save their quarters for the wash or do not trust CC machines. Customer convenience is key. Our accountant always says its better to make money and owe taxes than to not make money (or to make less money), make it easy for customers as they do not read ANYTHING you post at a wash. If the biggest hardship you have is collecting the money then you are doing well....

100% Agree. Why take away another option. They have the option to pay Cash or card. I’m 55 % cc, so why would I deprive half my paying customers who want to pay cash.

 

[Kar B Kleen]

Cash, Card, Apps, Trade, Swap, whatever, Take it all. Deal with other issues as needed.

 

[Greg Pack]

100% Agree. Why take away another option. They have the option to pay Cash or card. I’m 55 % cc, so why would I deprive half my paying customers who want to pay cash.

The vast majority of those customers will pay with credit card if given no other option. I my feel differently if there was a wash down the street, but right now if a person doesn't have a debit card on them I'm not sure I even want them on the lot. Even the welfare recipients get their money on a card.

 

[traveler17]

The vast majority of those customers will pay with credit card if given no other option. I my feel differently if there was a wash down the street, but right now if a person doesn't have a debit card on them I'm not sure I even want them on the lot. Even the welfare recipients get their money on a card.

My 2nd site is extremely busy, self serves had no credit card option in the bays. I thought putting them in the bays would boost my revenue even more so. I put 2 in my 2 busiest bays to see how it’d work almost a month ago. maybe because it’s young but it’s been a huge disappointment. I guess that’s why I’m skeptical of converting to cashless. I do think the country will eliminate cash one day. Hopefully I’m retired by then

 

[MEP001]

My wash also has no credit acceptance. I'm sure it will get some use, and I plan on adding it to the busiest two bays and vacs, but I expect very low use. My customers mostly don't speak English, I believe the majority can't read, and are mostly cash only. If my changer took $100 bills, I'd probably find a few in it each week. Cashless would absolutely kill my business.

 

[sjb]

My thoughts, accept all fiat currency ($ coins, quarters) accept all debit and CC’s, but only dispense your proprietary tokens aka crypto.

seigniorage is our friend!

 

[DiamondWash]

We shut our changer off for a weekend to see if this idea had feet to stand on, C.C usage doubled!, we watched on the cameras customers going up to the changer only to read the sign to use their credit card to start equipment, from the amount of time they spent in the bay and the money usually $5 in quarters it went over $5 from using their C.C so I almost want to push more customers to using their C.C over quarters.

 

[edredtop]

This is something I think about every day for the the past 6 to 9 months.
My washes are in dangerous areas.
Collecting is stressful, and taking credit cards would eliminate physical (bodily) risk at the wash and going to the bank.
Tokens have greatly reduced break-in attempts for the past 2 decades, and now I have been exploring c/c, but new rules require merchants to get a chip read on the customer's card as swiping isn't as secure (unless I want to eat a bunch of fraudulent c/c uses every day)
Cryptopay is $700 per interface because you need the swipe reader which contains the transmitter, and the tap-to-pay to achieve a chip read making this an expensive endeavor. All said, I'm about the thickness of a cricket wing away from "pulling the trigger" on adding c/c acceptance, and then deleting cash acceptance. I've noticed of the people I talk to, 35 years old and younger don't carry, or don't like to carry cash.
Anecdotal for sure, but an interesting survey.
Will watch this discussion closely.
Thanks!

 

[edredtop]

Cash, Card, Apps, Trade, Swap, whatever, Take it all. Deal with other issues as needed.

Agreed if you're in a good area.

Cash is the variable because it's the only thing you mentioned that will motivate 'people' (I use that word begrudgingly,) to cut, bend, pry, torch, saw, hammer, drill, grind, and Ramset their way through really expensive pieces of metal to get to it.

 

[AnalyticWash]

I've noticed of the people I talk to, 35 years old and younger don't carry, or don't like to carry cash.

This is very accurate. They also like to use modern payment options like Apple Pay or Google Pay via their phone. Numerous times I have seen a young person holding their phone up to the credit card reader in our self serve bays wondering why it doesn't work...