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Increase Revenue by Going Cashless

Posted by Lorelei Stephenson on 2/8/21 12:30 PM

Arcade games are timeless. They continue to delight us well into adulthood and they’ve even earned their own permanent exhibit at the National Museum of Play. Games in nearly any location are always a draw, but for Family Entertainment Centers of all kinds, they’re an absolute win. 

For parents, however, they can be a nightmare. 

When parents bring their kids to your FEC, you can be sure they’re walking in with a battleplan. They already know where conflict will arise as their kids become literal pinballs, bouncing from one activity to another. As parents keep an eye on where their kids are while juggling snacks, drinks, potty breaks, shoes, and more, nothing sinks their hearts faster than when the kids ask to play the games. This is where the battle of wills begins.  

It’s not because parents are anti-games. It’s because paying for games can be so difficult. Do they need cash, tokens, tickets? Is there an average cost that gives kids a fair amount of time to play? Where are the token machines? Why isn’t it accepting this dollar? How did the tokens get dropped everywhere? Why are they so heavy? And then suddenly they realize they gave money to one kid and completely forgot about their other kid and now they’re out of cash. 

The power to save these parents is in your hands. Your secret weapon? Cashless cards. 

One Size Fits All

Cashless cards are a game changer. They increase revenue and customer satisfaction.

In fact, studies show that guests spend more when using a cashless card than they do when they're spending actual cash. They also stay at your establishment longer, increasing the odds that more games will be played and more food and merchandise will be purchased. 

If you haven’t already switched to cashless cards, you’ve surely considered it (unless this is big news for you, in which case you might want to sit down).

If you’re thinking of adding games to your FEC for the first time or increasing the number of games you already have available, you’re already making smart choices. Integrating cashless cards into your system takes it to the next level. 

Cashless cards makes the often frantic experience of playing a variety of games simple. All a player needs is one card that can be used on every game. It’s small, light, and easy to fit in a pocket. Best of all, putting money on it is a breeze, giving guests more control over how much they’d like to spend and erasing any confusion that may keep them from enjoying their time at your FEC. 

It’s also important to reduce risk for your guests when they choose to visit your FEC in this pandemic world we live in. Cashless cards allow transactions to be done quickly and without the physical exchange of money, which more people are reluctant to do. It’s a boon to the safety precautions you already have in place as it helps to limit close contact and the spread of germs. 

Simple is always best. The easier it is for guests to access the games, the better. They’re more likely to play a larger variety of games and stay longer. 

How to Earn Cash from Cashless Cards

By choosing to go cashless, you’re saving both time and money. Consider the things you no longer have to pay for or worry about:

  • Maintenance costs for broken games and machines due to coin or ticket blockage
  • Games becoming unavailable after reaching their coin limit and needing to be unloaded
  • Token and ticket vending machines
  • Reduced sales due to transaction wait times 
  • An on-site ATM

The money you save adds up quickly. Additionally, you’re provided with more flexibility regarding the pricing of each game. You can slightly adjust costs based on the time of day or year. 

There’s also the “breakage” to consider; the money loaded onto cards that just sits there and is never used. Breakage usually averages at 15% and that’s money you get to keep. And if a guest happens to open their wallet and see their card from your FEC (thank you, free marketing) and decide to use it? That’s a repeat customer walking through your doors again and promptly refilling their card. 

Making the Transition

With the right software system, switching to cashless cards is easy.

While you’ll want to make cashless cards the predominant way to pay for games, you should still provide options for guests who want to pay with cash. In fact, it’s the law

Having one payment option that’s profoundly simple is great, but it’s important to remember that not everyone has that choice. Ensure you can provide for every guest who is there to give you business. Alienating others based on circumstances doesn’t help anyone. 

There are plenty of excellent cashless card systems available and you’ll want to choose one that makes the most sense for you and your goals. If you want to be creative with your cashless card options, find a system that thrives on flexibility. If you’re more focused on reducing contact, see what kiosk or virtual cashless card options a system offers. 

Once you’ve implemented cashless cards, they can play a role in a variety of services.

  • Include them in birthday party packages 
  • Offer a special rate to members of your loyalty program 
  • Create an option based on time, allowing a card to work on all games during a specified hour

The sky’s the limit. Options + ease = very happy customers. 

How Clubspeed Can Help

Clubspeed’s open API and integrations allow you to work with any of the major cashless card systems available. You can choose what’s best for you and your business and easily implement it within your Clubspeed program, maintaining one platform that covers everything.

While you’re focused on making life easier for your guests, Clubspeed is dedicated to making life easier for you. Clubspeed software provides the flexibility you need to make a business model you can be proud of. 

Learn more about how Clubspeed can make your FEC the place to be.  

Topics: Family Entertainment Center, Customer Experience, Arcade Games, cashless cards

     

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