You will collect more often as soon as you have somebody break in and steal your coins. We collect twice a week regardless of the amount. Posting videos Showing people that you let your money accumulate to that amount in your self serve bays is just inviting someone to break in and steal from you. Trust me I’ve been doing this for over 30 years..
The reason people count the quarters, is to get an accurate gross income on your wash. Like you said some people bring quarters to the wash and others you sell quarters to via the change machine. Not all the quarters you sell get spent at your business. So when you count the quarters collected you know 100% what your revenue is. Just like your credit cards. When you get your statement it will say $ XYZ.. minus your transactions fees.
Yeah maybe I am being lazy but I dont need to calculate my exact gross revenue every month. I just keep the quarters circulating until I have way too much excess and then I cash them in like I did in the video and count that as income for that month only even though I know it was an accumulation over months.
@@therevestor In my shop, I have a comprehensive POS system. However I do my accounts by what gets deposited into my bank for CCards and I pull out excess cash once a week and bank what ever I have. That's my accounting. I'm the only one with access to the money, so I have no need to count it. The POS system tells me what sales etc are with fancy graphs, so I still keep track, but why bother counting 🤷🏼♂️
We count weekly and generally deposit 5-700 in excess qtrs. We love qtr count day. We use the weight method also. We have a small container that we fill to a certain weight and we know that's $100. We get those loose coin bags from our bank and do a declared value deposit then they just deposit what the actual count is. We are usually within a dollar of our declaration. We are always amazed at how many "outside qtrs" we get.
Dude - love your content. Between we use our local credit union bank to deposit coins, it is very quick and free. We deposit $500 every week, so finding this bank has been very help and made out life easy.
I saw you threw all the corroded quarters into your own machines, thats going to ruin your machines. You also left the bucket full of corrosion in your bay, that will spread to the new quarters you collect. You REALLY need to clean them with vinegar and water for 30 mins and then dry them off properly.
Awesome video. I own two storage facilities and what I love is that I don't take any cash and all rent is paid online. I never have to go by the facility and only my employee does to turnover units. I like the car wash business potentially, but always was turned off about having to constantly go to collect coins. However, your implementation of credit card system looks like it reduces this aspect. What's the longest you can go without changing out the machines? At the end of the day, that's not something I'd trust an employee with so you have to be close by a car wash. Seems like the demographic that uses self service dictates that you must accept coins too? I'm curious if you were all credit card how much that'd reduce your rev. I know a lot use coins now, but if only option was CC, who doesn't have a CC? 10% of pop? Do you have an employee go buy to pick up trash, check equipment, empty trash bins, etc? Would you mind if I DMed you to ask some rev related questions?
I collect my coin boxes every day, then I read my bay meters every day and compare the coins to the meter to see if the meter is giving my customers what they pay for. I have had my change machine strung twice, loosing $1200 the first time and $800 the second time. After that I modified the bill stacker to prevent that. So far the modification has been successful. I can't believe you would put all those dirty coins back in your change machine let alone take them to the bank and mess up their machine too. That is just ridiculous, and mean. Those coins are going to cause jambs in your coin mechanisms, maybe not immediately but will add to dirt accumulation and will cause jambs. Why would you want to put all that dirt in a $300 coin mechanism. I'll agree with other comments, Showing that kind of buildup of coins in your vaults just invites thieves. Not only for you but for every other coin operated business owner. Don't show that!!! Thieves don't care about your equipment they will do whatever is quick and easy to get to your money, and now with battery operated tools it has become easier than ever! Also I'll bet you have found that the opening between the coin acceptor and the vault has gotten plugged with coins so that the coin mechanism becomes jambed because the coins have nowhere to go because the vault is full.
I know Chris Atkins @CarWashChronicles had to put locks on the area that collects the dirt for the vacuums because people (possibly homeless as you suggested) were leaving them open and the vacuum suction drops when those door are open.
With WellsFargo you can register your business acct to take quarter deposit bags. They send to Brinks, who counts it for less than a couple of dollars. Your receipt shows that you paid almost a 10% fee to count your quarters?
Watching your video on the collection of bill changer after you collected your left hand bill validator it had two blinks meaning something is stuck in the path.😮
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You will collect more often as soon as you have somebody break in and steal your coins. We collect twice a week regardless of the amount. Posting videos Showing people that you let your money accumulate to that amount in your self serve bays is just inviting someone to break in and steal from you. Trust me I’ve been doing this for over 30 years..
Yeah, the Lockpick Lawyer could open these machines pretty easy 😀
So true, we collect every 2 days Sometimes every day
Smart young man. Collect them quarters weekly. Make sure you test those bays each week. Such a handsome guy!
The reason people count the quarters, is to get an accurate gross income on your wash. Like you said some people bring quarters to the wash and others you sell quarters to via the change machine. Not all the quarters you sell get spent at your business. So when you count the quarters collected you know 100% what your revenue is. Just like your credit cards. When you get your statement it will say $ XYZ.. minus your transactions fees.
Yeah maybe I am being lazy but I dont need to calculate my exact gross revenue every month. I just keep the quarters circulating until I have way too much excess and then I cash them in like I did in the video and count that as income for that month only even though I know it was an accumulation over months.
@@therevestor In my shop, I have a comprehensive POS system. However I do my accounts by what gets deposited into my bank for CCards and I pull out excess cash once a week and bank what ever I have. That's my accounting.
I'm the only one with access to the money, so I have no need to count it.
The POS system tells me what sales etc are with fancy graphs, so I still keep track, but why bother counting 🤷🏼♂️
Love the down to earth mentality of operating, keep it up
Thank you!
We count weekly and generally deposit 5-700 in excess qtrs. We love qtr count day. We use the weight method also. We have a small container that we fill to a certain weight and we know that's $100. We get those loose coin bags from our bank and do a declared value deposit then they just deposit what the actual count is. We are usually within a dollar of our declaration. We are always amazed at how many "outside qtrs" we get.
Thats great. Most owners I talk to run at a deficit
Real content with no hype. Awesome
Get an ice scooper to fill your hoppers
We have $1000 per week in excess quarters. Use Wells Fargo money bags. Weigh out 50 lbs. Brinks picks up and verifies. Fun video.
Dude. You need to secure those bays dude. Multiple locks
Dude - love your content. Between we use our local credit union bank to deposit coins, it is very quick and free. We deposit $500 every week, so finding this bank has been very help and made out life easy.
Thats great. I also had these counted at a credit union but I dont need to go very often.
Awesome good to see the place doing good
@1:30 the reason people count quarters is because the irs has specific guidelines on how to report income for car washes and laundromats
I saw you threw all the corroded quarters into your own machines, thats going to ruin your machines. You also left the bucket full of corrosion in your bay, that will spread to the new quarters you collect.
You REALLY need to clean them with vinegar and water for 30 mins and then dry them off properly.
The quarters will get mixed in with the rest of the batch through circulation. I am not concerned enough to take time to clean them.
Awesome video. I own two storage facilities and what I love is that I don't take any cash and all rent is paid online. I never have to go by the facility and only my employee does to turnover units.
I like the car wash business potentially, but always was turned off about having to constantly go to collect coins. However, your implementation of credit card system looks like it reduces this aspect. What's the longest you can go without changing out the machines? At the end of the day, that's not something I'd trust an employee with so you have to be close by a car wash. Seems like the demographic that uses self service dictates that you must accept coins too? I'm curious if you were all credit card how much that'd reduce your rev. I know a lot use coins now, but if only option was CC, who doesn't have a CC? 10% of pop?
Do you have an employee go buy to pick up trash, check equipment, empty trash bins, etc?
Would you mind if I DMed you to ask some rev related questions?
I collect my coin boxes every day, then I read my bay meters every day and compare the coins to the meter to see if the meter is giving my customers what they pay for.
I have had my change machine strung twice, loosing $1200 the first time and $800 the second time. After that I modified the bill stacker to prevent that. So far the modification has been successful.
I can't believe you would put all those dirty coins back in your change machine let alone take them to the bank and mess up their machine too. That is just ridiculous, and mean.
Those coins are going to cause jambs in your coin mechanisms, maybe not immediately but will add to dirt accumulation and will cause jambs. Why would you want to put all that dirt in a $300 coin mechanism.
I'll agree with other comments, Showing that kind of buildup of coins in your vaults just invites thieves. Not only for you but for every other coin operated business owner. Don't show that!!!
Thieves don't care about your equipment they will do whatever is quick and easy to get to your money, and now with battery operated tools it has become easier than ever!
Also I'll bet you have found that the opening between the coin acceptor and the vault has gotten plugged with coins so that the coin mechanism becomes jambed because the coins have nowhere to go because the vault is full.
I know Chris Atkins @CarWashChronicles had to put locks on the area that collects the dirt for the vacuums because people (possibly homeless as you suggested) were leaving them open and the vacuum suction drops when those door are open.
Yeah thats good practice
With WellsFargo you can register your business acct to take quarter deposit bags. They send to Brinks, who counts it for less than a couple of dollars. Your receipt shows that you paid almost a 10% fee to count your quarters?
Yeah your right they charge an exorbitant fee. I am an account holder though so I did not have to pay the fee.
Also, you brought the metal bucket to so we could hear the quarters, but you fast-forward through dumping the container 😟
Tokens prevent quarter hoarders
@14:18 the $ per pound is $20 a pound
how often you collect change?
Where did you get the metal garbage can covers?
You could use whiping cream tub for 4 bay
So many uses for those containers. Im going to use your idea.
for Quarters each Pound of quarters is $20
I will have to remember that one
@@therevestor when I start to add claw machines to my business I will get a scale to count my quarters
@3:22 wow
Did you add air dryers to your bays?
Nope. I did add triple foam though
@@therevestor Have you seen air shammees before? They seem like they would be a good way to keep people in bays longer.
The tax man watching this video carefully, expect an audit.
I will be ready
I think people count quarters to know they aren't running at a deficit of quarters
"Coin Vaults Emptied Daily" on the car wash coin collectors. Liar Liar Pants On Fire! :)
Hey. The. Revestor. Coins. For. Car. Wash. Business. Places. Can. Also. Use. Vacuum. Cleaners
$10 equals a half pound
Watching your video on the collection of bill changer after you collected your left hand bill validator it had two blinks meaning something is stuck in the path.😮
Yup I got it cleared before I left. Good catch