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When it comes to retail space inside the grocery store, every square foot counts. That's why it's so important when selecting a self-service coin counter to choose high-quality equipment that delivers the greatest return on investment (ROI), advises Cummins Allison, a Mt. Prospect, Ill.-based provider of coin, currency and check handling solutions.
With 80 percent of U.S. households reporting someone in the home saving loose change, according to one survey, grocery stores can capitalize on the need to redeem coin by owning or leasing a high-quality self-service coin machine. Here are three key considerations to keep in mind when seeking high quality self-service coin machines, according to Cummins Allison:
1) Delivers Maximum ROI -- Owning a self-service coin machine can provide a return on investment of more than seven times the original investment. Retailers can take advantage of a highly profitable machine that offers a small footprint, is low risk and adds incremental revenue to the bottom line. Grocers that own a self-service coin counter keep 100 percent of the revenue generated from fees compared to a coin counter placed by a third-party that only delivers an average royalty payment of less than two percent to grocers.
2) Accuracy Equals Uptime -- A quality self-service coin machine uses high-speed sorting technology that employs on-the-fly coin discrimination to perform fast, uninterrupted coin sorting and automatic rejection of debris and foreign coins for increased throughput without stops or jams. High-speed sorting technology positively impacts the user experience, enabling patrons to quickly redeem coins and obtain the cash payout right at the machine for potential spending in store. Simultaneously, greater uptime means machines are available when users need them, increasing profit potential and ROI.
3) Backed by Dependable Service -- A dependable, quality-made self-service coin machine will need fewer repairs, which means lower costs and less downtime. Look for coin redemption machines that are manufactured in the U.S. and backed by local service technicians trained by the manufacturer. With the ability to tap local parts inventories and manage any repair quickly, service technicians are able to keep machines up and running, preventing downtime and helping you maximize ROI.