Bill validators in vacs...worth it???

[I.B. Washincars]

I have some Fragramatics combos that I am going to rework. I have Etowah making a conversion door for them and will add CC acceptance for sure. I am contemplating a validator as well. Those of you that have them on vacs, do you think they are worth it? Would you do it again?

I am totally aware that a validator will make them more appealing to crooks. We have never had an issue with "smash & grab" thefts, so I am not letting that be the deciding factor. We have had acceptors in the SS bays for 8 years and not the first break-in attempt. I just want opinions from the income side of the equation.

 

[chaz]

I would go with bill acceptors for sure. All my vacs take quarters, dollar coins, ones and fives. Average about 2 fives per week per vac.
I do not have CC on my vacs. I may add to one or two units at some point, but the Hamilton Dan unit is pricey plus CC fees for a one dollar sale for 4 minutes is hard to justify, About the only way I'd add CC to the vac is to have a $2 vac min?!

 

[MEP001]

If you remove the concern of break-ins, I see no good reason not to add bill acceptors. I'd bet that for each $5 chaz finds in his, that's at least a dollar more spent than they would have with quarters only.

 

[Earl Weiss]

. Those of you that have them on vacs, do you think they are worth it? Would you do it again?

.

When I got my last Coleman's the validator and security upgrade was about $1000.00 I struggled with the decision.

I would never - ever -buy a combo again without bill acceptors unless there was a big concern about vandalism.

Added benefit of course is if a coin jams the bills still work.

The Coleman security bar system at least looks like it might be a PITA for someone to attack which is somewhat of a deterrent as is the location of the unit and lighting etc. Can't speak to the Fragramatics appearnace or efficacy.

 

[Mel(NC)]

Bills validators yes, CC's no. I have had vacs with bill acceptors for about 5 years. Roughly, 40% of the income is bills. I also get a few $5 bills each month. I have one combo vac with a credit card reader. The card reader brings in $10-15/month, which just covers service costs.

 

[Randy]

Never again will we put another bill validator on any equipment other than a bill changer. Too much of a target for those scum bags need a little cash. We never had problem with coin boxes or vacuums being targeted until we put in bill validators. As they go bad or are vandalized we aren’t repairing or replacing them. After watching video of two guy opening up a coin box with a bill validator installed and seeing how easy it is to open I was amazed at how easy it is. Never again

 

[Doug P.]

I have 11 vacs at two different locations with bill acceptors. I have had 9 (combo vacs) of them for 10 years and two (regular vacs) of them for 7 years. About 46% of the vac revenue comes from cash. I don't have credit card acceptance on these vacs and its rare I get a five. I am currently $1 for four minutes. The revenue from these vacs seems no better or worse than my locations that don't have bill acceptors. The vac validators have been much more trouble free than the validators in the self serve bays. If I was ordering a new vac I would definitely get bill acceptors. If I was having trouble with break-ins probably not.

Doug P.

 

[cdreed06]

With no break in problems I would go with the bill validators. I have one on our newest vac and it does well. Any time you can make it easier for someone to pay you, no matter what method it is a good thing!

 

[LisaLyons]

Unless your credit processing fees are really low or you have a high volume was that uses a lot of credit cards I wouldn't do credit cards but I am cheap. Bill acceptors account for about 50% of my fragramatic vac income. The older I get, the better I like hauling cash vs hauling coins. I am in a smash and steal town and haven't had problems with the vacs..pretty secure. Bay's not so much. if you do credit cards just make sure the acceptor isn't near the cash box.

 

[robert roman]

Monetary damage caused by vending machine vandals usually exceeds the amount of money or product they’re able to steal by about five times.

Fraud risk for vending machines is about 0.16 percent.

Also consider compliance issues and technology (i.e. EMV).

Applying these factors against benchmark, cost side of equation for self-serve is roughly $30,000 or more whereas the income side of the equation would be at most $20,000.

Benefit cost is absent for several reasons one being that bill and cashless payment are facilitators of sales transactions (cost of staying relevant is $10,000) and not products.

For example, convenience of multiple payment methods is great for most businesses but the expanding and growing segment of the carwash industry - express format (conveyors and in-bay) - gives vacuum away for free.

Vending in self-serve has dropped 50 percent. Is this because people have less money to spend or is because machines don’t have what people actually want to buy?

Moreover, if you can vend a great fragrance product, why have a fluid dispensing machine?

Performance of most self-serve shampoo units is about the same or less than cheap carpet cleaner you can rent at grocery store.

In other words, if self-serve wants to cover and exceed cost of doing business (relevancy), it has to sell more stuff that motorists actually want to buy.

Trend in per capita carwash spending DIFM is positive and DIY is negative.

Vending machine industry typically addresses this with global solution – sell what customers want to buy and provide onsite management when viable.

For example, if we apply industry best practices for management against self-serve benchmark, we could expect benefit of $50,000 at cost of $20,000 or net benefit of $30,000.

$30,000 - $10,000 (relevancy) = $20,000 benefit

Hope this helps.

 

[JMMUSTANG]

Robert again I'm not sure I understand your methodology but you got me thinking.
Because my ss customers have the ability to use quarters, bills and credit cards in my bays they have less of a reason to go to my changer thereby not passing my venders so...
I'm going to install electric 5 selection Little Tree venders with dollar bill acceptance and 3 drop venders (back side) on the light pole on my vacuum pads and install Dollar bill acceptors on my vacs.

 

[robert roman]

“I'm not sure I understand your methodology but you got me thinking.”

Thinking is a good thing. If you mull over what I said it will make sense.

For example,

“I'm going to install…..venders with dollar bill acceptance….on the light pole on my vacuum pads and….bill acceptors on my vacs.”

This is best practice in merchandising – visual display and placement that stimulates people to spend.

OEM’s provide this with “detail” island (vacuum, shampoo, fragrance, vending, mat holder, garbage can).

Per capita spending on car-care products that protect has grown faster than products that clean.

So, a logical extension of the detail island would be to sell products that protect (income generation). Bill and card acceptors facilitate these sales (cost of relevancy).

Likewise, attendant should be more than janitor and maintenance person (cost of relevancy).

For example, key ratios for retail stores are revenue generated per employee and average wage.

So, a best practice would be to have employees (i.e. attendant) that sell things (income generation) and provide customer service (customer loyalty).